That's a hard question to answer, as "it depends". But I had experience with "financial advisors" for some 40 years, and I'm retired now.
I used them out of necessity. I was fortunate enough early on in the 80's to first to have a finance job, systems analysis job, then and IT job where I was given a computer with internet, where most people wasn't. Problem was I got the bug and spent hours on company time, researching and trading. I decided to have financial advisors so I can finally do the work I was paid to do.
My first episode was I had $25,000 put aside for purchasing my first home, which I planned to do after I'm more settled. My Merrill Lynch financial advisor said I can't go wrong with Ginnie Mae unit trusts. Says they're safer than bonds, pays a good interest rate, so I put the whole $25,000 into it.
A year went by and I'm ready to buy my home, and to my horror, my portfolio dropped from $25,000 to $20,000. Asked the financial advisor what happened, and his answer was, interest rates went up, so the value of the Ginni unit trusts goes down. Yes, you can buy bonds, Ginnie Maes, and hold them to maturity, collect interest, and not lose money. But I clearly told him the money would be used in a year or so when I'm ready to buy a home. And yes, I had my MBA in Finance then and I know when interest rates rise, bond values go down, and it was my fault that when he gave me the sales pitch, I completely forgot. My mother in law bought Ginnie Maes, has no MBA, but held it to maturity, collecting interest, and made money on it
From that day on, I always had my portfolios held by at least two firms, served by two advisors. Nowadays, one is held by Chase, with it's financial advisor, I pay fees, and they invests in a whole array of ETF's, bond funds. They had it for several years, and we stressed that our goal is safety, preservation, not looking for spectacular returns, so far, they done that.
The other major portfolio, I self manage, never turned it over to a financial advisor. Rather than diversification, I invested into high tech stocks. I speculated with options at one point, and made over $200,000 with an initial investment of $40,000. When the market turned, I didn't lose big, my gain was reduced to $100,000 so I decided to quit while I'm ahead. I only owned a handful of high tech stocks, turned out to be the right ones, chief among them Microsoft. Years ago, I bought a handful of shares, with splits, turned to 1,000, so this past year, when the stock went from $80 to $130, I was shocked, but pleased.
And then my wife had a portfolio once, had a fund advisor manage, after a year, we weren't wasn't pleased. We found out it was invested in funds that charged a penalty if we cash out. Finally, we decided to take the loss, moved it to another manager who did better.
Just to say, these are our experiences. But the main thing with us, with high pressure corporate jobs, a real estate portfolio to run, can't afford to spend time trading on the job, hence the need for financial advisors.