2nd Opinion please.

Sebo027

steampowered said:

I wouldn't start moving money into bank accounts. That would be "throwing out the baby with the bathwater". 

The average return generated by the stock markets over the long term is generally around 6-7% per year. If you are paying a fee of 1%, that's still a return of 5-6% per year, which is still far more than you'd get in a bank account.

I don't think you should be worried by the fact that your pot has dropped from 430k to 405k. That's a natural part of investing. Global stock markets have dropped for obvious reasons. When you are invested over a number of years, some years you will do well and some years will do badly - it's the long term average that counts. If you had put your money into a bank account rather than in investments your 405k pot might only be 200k !

As others have said, the fees you are paying are quite high. You could consider educating yourself on funds / investments and going DIY. Otherwise you could consider negotiating the fees you pay or (a better option) moving to a whole-of-market IFA who is willing to charge a lower fee.

I think this is by far the best advice on this thread. 
You may be able to invest the money on your own (possibly in exactly the same investments) and reduce the 1.6% fee down to 0.25-0..5%, but you owe it to yourself to educate yourself on what you are doing before taking that decision. I found this book to be terrific, perhaps it would help you.