I would suggest an additional waypoint be placed near the Wizard's Tower in the Underdark. The tower itself, the Festering Cove etc are all isolated.
Couldn't find anything like this on the search function - so at the risk of duplicating the suggestion...
The Beach waypoint is a lot closer than it seems.
Just climb the netting then go to the area with the holes that you can reach into. Make that small jump, and you're right there at the stairs leading up to the arcane tower. I've noticed a lot of people feel like they have to go the long way around, but the shortcut is quick and easy.