Investment advisory/management fees are deductible as a miscellaneous deduction on Schedule A (Itemized Deductions)
subject to 2% of your adjusted gross income.
In order to get a tax benefit
from this, you need to have more than 2% of your adjusted gross income in
miscellaneous itemized deductions, plus you need to itemize your deductions on
Schedule A. If you owe Alternative Minimum Tax, these miscellaneous
deductions are not deductible.