Whew. You need to make some changes immediately — while she is capable of acting!
For starters, you need an estate plan and powers of attorney. Do you live in the Chicago area? If so, I recommend you contact Kerry Peck at Peck Ritchie — (855) 328-5787. Do not delay on that.
If you do not live in the Chicago area, go to www.Naela.org — that’s the website of the National Academy of Elder Law Attorneys.
I will reach out to you privately about the investment account and steps to be taken. It’s not only the fees, but the issue of WHAT she owns at this stage, and who gets the money (since she can’t possibly spend it all), and how it is to be distributed.