With regard to the fixed interest component - you can place funds into fixed interest where you want just as easy as any advisor but for no cost at all - Not much point paying anyone a % of funds under management if they're not doing anything
1% is not cheap
A fund worth say 500k with a mix of shares, managed funds and fixed interest can easily be administered competently for 2k - 3k (mind you, that charge should be the same if the fund was worth 2m - ie costs are generally governed by complexity and or number of investments / transactions)
