“It was an almost continuous dive.” My accounts are down 13% this year, but my financial advisor hasn’t made a single adjustment and is still taking his 1%. Do I still need him?

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Request: I’ve heard it thousands of times: “People make more money with a financial advisor, don’t stop losses, stay invested,” etc. So I started as a financial advisor at a national firm in March. He has recommended a 50/50 balance with short-term bond funds and mutual funds.

It’s been an almost continuous decline in my savings, with a 13% loss in my portfolio, yet no adjustment has occurred. And the company gets a 1% annual charge to my wallet, prorated monthly. They also said they were unable to calculate an RMD on an inherited IRA due to liability reasons. So does it have value to the financial advisor when he gets paid despite my personal losses and fails to minimize further losses? Help! (Also looking for a new financial advisor? This tool can help match you with an advisor who might meet your needs.)

Reply: We have some good (more or less) news and some bad news. Let’s start with the good (more or less) news. If you have a portfolio that’s 50 percent stocks and 50 percent bonds and you’re only 13 percent down, that means you’ve done pretty well, explains Joe Favorito, a certified financial planner at Landmark Wealth Management. “The average 50/50 portfolio is down closer to 17% for the year since the first week of November. While we never want to lose money, you have lost less than most,” says Favorito.

And the fact that the consultant didn’t make any changes might not be a bad thing, the pros say. “Financial advisors are often paid a 1% fee for doing something people are often not capable of: holding investments for a long time. Because selling during a market downturn often locks in your losses, advisors can hold onto assets even when it looks hurtful,” says Alana Benson, investment spokeswoman for NerdWallet. In this situation, an advisor could still be on hold because she believes that things will be fine in the long run.As legendary investment expert Warren Buffett once said, “Our favorite stock holding period is forever.”

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That said, it sounds like your advisor might not be worth the 1% you pay them, some professionals say. Indeed, if your advisor charges 1% to strictly raise the funds, provides no financial or tax advice, no financial planning, no ongoing communications, and is unable to calculate an RMD, you are overpaying, says the certified financial planner Eric Presogna of OneUp Financial.”

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Also, while it might be best to do nothing now, “if maintaining the status quo is the optimal strategy, it should be communicated early and often to the client,” says Presogna. In fact, communication with your advisor seems to be poor, which is a problem. Not only do you not know why they aren’t trading, you also don’t know what’s going on with their RMD reluctance. “Usually, a financial advisor has no problem doing an RMD calculation, so you should discuss it with them to make sure you’re not misinterpreting anything,” says Favorito.

This means that the first step for you may be to reach out to your advisor and get clarity on all of this. Remember: “Two things your advisor should do are communicate during market volatility and restate their message and look for silver linings or small payoffs even if making wholesale changes is usually not prudent,” says Tracy Burke, financial planner certificate by Conrad Siegel.

You might ask the advisor about things like “collecting capital losses if a taxable account has unrealized losses, rebalancing the portfolio, and gradually increasing equity exposure in a down market so you buy more shares when they’re on sale,” says Burke . And Town Capital’s certified financial planner Ryan Townsley says it might even be worth asking for a “Roth conversion down,” which “could add a lot more value than a rebalancing right now,” Townsley says.

That said, Townsley notes that: “You’ve only been with the advisor since March and advisors should really be judged on full market cycles. I feel there hasn’t been enough time yet to make an assessment,” Townsley says. That said, it was enough time for conversation as sitting and watching is probably not the answer.

Also, you may not need a consultant. Or you can choose to be a robo-advisor. With advances in technology and the rise of robo-advisors, investment management has become commoditized, says certified financial planner Eric Presogna of OneUp Financial. “Depending on the size of the account, an investor can obtain a low-cost, globally diversified portfolio from a robo-advisor such as Betterment or Wealthfront based on his or her risk tolerance, including ongoing rebalancing and tax loss collection for 0.25% to .30%”, says Presogna.

Have a problem with your financial advisor or are you looking for a new one? Email picks@marketwatch.com.

Questions edited for brevity and clarity.

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