As I've mentioned in other threads, I had Fidelity running a managed account for me at one point. They were always trading the account and had about 10 mutual funds plus they were charging me a fee. They underperformed in good time and bad times and I finally got rid of them. I have it down to about 3 funds now, an S&P 500, Fidelity Contrafund and Janus 40. Last time I talked to my Fidelity rep, he didn't even try to sell me on their managed portfolio as my unmanaged one did way better. Technically they're all managed, the S&P picks the 500 stocks (wish they hadn't done Tesla) and the other two have their own fund managers with decent track records.My wife had her retirement actively managed by a firm and mine was on auto pilot with low cost index funds... She was getting nickel and dime with fees and charges and mine was still out performing hers by a country mile. She switched to target date index fund when she transferred to a new employer and never looked back. Not saying all actively managed accounts are bad by any means just saying it didn’t work out for us.