The wealth management industry is in transition and individual investors face a confusing array of choices. When we started our firm over 28 years ago, local bank trust departments and local brokerage firms were our primary competitors. Almost all of the trust departments have been merged and purged but many of the brokers still are there despite a poor record in terms of rendering client centered advice. The attached chart provides a brief description of the differences between what we do and what brokers (and others) do. While they often use names like financial consultant, they are first and foremost salespeople.  It is not uncommon for brokers to recommend investment products with annual charges of 2-3%.  These expenses are sometimes hidden by the structure of the investments so that customers have difficulty determining the actual charges.
 
The difficult economic environment and market conditions investors have experienced over the past few years have further shaken up the investment landscape. There have been a number of bank failures and several large brokerage firms were forced to merge with larger global financial institutions. Living through a volatile market period has led to some investors second guessing their investment approach. Many do-it-yourself investors are now considering hiring a professional advisor.
 
There are over 300 million people in the U.S. and it is safe to say that very few individuals have a reasonable chance of achieving financial independence without professional financial advice. The problem is most of those holding out as advisors are not advisors plain and simple. Every financial need is not solved by the new fangled product on the shelf at the local brokerage firm. 

 
The emergence and increasing popularity of independent fee-only advisory firms like J.E. Wilson Advisors provides an alternative approach to addressing increasingly intertwined and complex wealth management needs. Selecting the right financial advisor dramatically increases your likelihood of achieving great results along with a great experience.