Who would sell them 27 mutual funds? someone is sure making profit at their expense unfortunately.

They also need to look at increased insurance- Life for both, more disability insurance for both, maybe critical illness insurance if they don't have this

their biggest investment is their current earning power and it needs to be protected.

They need a financial plan and maybe a fee for service option to get a plan would be good then a DIY approach with what is suggested.   Lots on on line resources like canadiancouchpotato. for one.  

With better financial advice, they can continue to do well.