"So Are Professional Investment Managers Going Away?1" Actually the answer is both yes and no. Yes, there most likely will be fewer firms. No,
in that there will always be a segment of the population that requires assistance and/or is willing to pay for it. Be it trust or estate planning or simply not wanting to deal with the time it requires to manage a portfolio.

Indexing as a core, in my opinion, is a balanced approach to long term growth.
Placing a percentage of assets in well researched managed funds gives you the exposure to do better than just average, albeit at a slightly higher cost..