I will go against the grain here a bit.
Here, we put things into VTSAX or whatever equivalent and, much like boggleheads, get caught up on a 0.03% vs 0.04%. Often.
What OP is suggesting, however is a bit of guidance with things like taxes, fees and other management. Yes, to some of us here, it's stupid simple! But then again, there's two sides to this coin.
Many here can claim how easy it is to simply plan for 4% drawdown, for example. Perhaps after spending a few nights discussing Early Retirement Now's award winning 40something part blog on Sequence of Return Risk, we can discuss how little we know.
Further, a lot less of us on this blog are Canadian, so the data is slightly skewed. We're talking about different Capital Gains, Dividends (qualified, unqualified) Margin vs TFSA vs RRSP etc. Dan at CCP is great, but I find something like Canadianportfoliomanagerblog (Justin Bender, his PwC coworker) is much more in depth. After finding Justin, I slashed fees by about 0.25%, because of level I and II foreign witholding taxes, for example.
Now, before we all jump on a bandwagon of "lowest MER" it's that simple, call it done...perhaps we need to hear a bit more from OP. Is there a small business, how was the $1M windfall gained (tax implications?) What are the needs from the portfolio, what's their appetite of risk.
I don't doubt 99% of advisors are junk, 96% in Canada are non-fee based, so personally biased in having Assets Under Management. Otherwise, like any career, you'll have good advisors just like bad ones. But just like a doctor, you probably won't know until they've operated on your emergency surgery. So what's someone to do? Educate as much as possible. I've mentioned a few things, here. Kitces is also fantastic, and there's a lot of bullshit to shift through to find the right answers, so that takes time.
Alternatively, the fee based route is great. Perhaps someone in the community, like Boomer and Echo? Maybe a tax accountant for tax planning purposes? Specific needs, specific answers, for a fee. But overall, it's very true: no one will ever care about your money as much as you do. Ever.
Finally, confidence. Like many have said here, the 7th digit is just that. Many people here have $2-3M+ and they're very succcessful at managing it themselves. Welcome to a community of like minded and local individuals who can help with those tough answers, have rapport with specialists like tax accountants in your area and can help steer you the right way to answers by yourself or with said specialists. We're here to give you confidence, and tell you when you need to level up to someone specialized. No one size fits all, but we should all be happy to help give you specific confidence points to say, hey, we've been there too.
