An index stock fund could certainly beat a broker, advisor, planner, etc. during a given time period on a gross return basis. But it might not either.
One note: If you are interested in working with a planner, I would suggest seeking out a fee-only planner, as opposed to a "broker." A fee-only financial planner is going to take stock of your overall financial situation and help you craft a plan that will help you reach your goals. Investment management is only one part of that plan - you also have insurance, estate planning, tax planning, financial planning, etc.
Without getting into the discussion of risk adjusted returns or why you can't compare an entire, well-diversified portfolio that a planner would (or at least, should) put together for you to a single index of any kind, a huge part of the value that a financial planner brings to the table is behavioral coaching. For example, with a lot of individual investors, they end up being invested too aggressively in the sense that when the market goes down they see their portfolio decline strongly as well. Often, they will wait until the pain and/or fear gets to be too much and they will sell everything to cash. All they have done is locked in those losses (that were formerly losses only on paper) and in many cases, they have done so at, or near, the bottom of the bear market cycle.
Coming back up, they tend to wait, and wait, and wait, until the markets have come far enough off of the lows that they feel confident that we are truly out of the bear market. At this point, they feel comfortable enough to move everything back in. Often though, this happens at, or near, the top of the bull market cycle.
Then they do the same thing over, and over, and over. And what they are effectively doing is buying high and selling low, which as I am sure you can imagine, is a fantastic way to lose money.
A quality advisor will help you determine an appropriate asset allocation that will help you achieve your goals and also be tailored to your risk profile so that you do not panic in bad times or get too greedy in good times. And s/he will serve as an effective sounding board during those times when you are thinking of doing something that is probably not in your best interest.
Vanguard did a study recently that suggests that a financial advisor provides a value add to clients of approximately 3%. It was broken down into different areas with different levels of value attributed to those areas. But 1.5% (fully half of the approximately 3% value add) was attributed to behavioral coaching.
So even if your portfolio doesn't always "beat" the markets or a particular index in a given time period does not mean that your planner is not doing a good (or even great) job. And if they helped you avoid doing something (or several things) that were likely not in your best interest, then their value could be immeasurable.
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