Twelve and a half percent is a beautiful return. In my retirement planning, I assume 10% and the numbers work beautifully.  I see the future as very bright especially in the technology and communications sector, with revolutionary technologies being brought to the market and lots of money to be made, and 10%+ certainly achievable.    
  My theory is that many advisors look for unsophisticated investors who sold their houses to downsize or are recently widowed, and try to convince them 5% or less is something they should settle for because that is the "new reality".  I say, it's your money, find yourself a different advisor.