Fee based investment fees are just the latest scam.  Advisors tell you that your getting a custom made portfolio that meets the clients unique needs.  When in fact, it's the same portfolio that they place all their clients into.  So basically, it's a mutual fund.  And to make matters worse, their mutual fund will contain other mutual funds, so you're paying fees on top of fees.

It always amazes me that people who are so competent in their fields of endeavour, would make so little effort to learn how to manage their own finances.