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Message If you are a complete novice with money and investing and the choices are use a financial advisor or deposit your money in a high yield savings account or a CD, then yes, I believe using a financial advisor is the right choice. Also, if you're comfortable with investments but you have no willpower to stick to a plan and you know that you'll end up buying high and selling low then by all means, use a financial advisor.
Otherwise take a look at the 2020 SPIVA report:
https://www.spglobal.com/spdji/en/documents/spiva/spiva-us-year-end-2020.pdf>
More specifically page 9 where it shows the percentage of US equity funds that outperform their indexes over the course of years. 2nd row states that the percentage of large cap funds that underperform their S&P 500 index over the course of 20 years is 94%. In other words, you have roughly a 6% chance to pick a large cap equity fund that will make you more money rather than just investing in a basic S&P 500 index fund, many of which have an almost zero expense ratio and are available in almost every 401k plan.
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