One emerging trend in the financial advisory business is the lack of licensed financial advisors. It seems that following a major market event (downturn) we see the number of people in the industry drop. With two major market declines in a decade, it is safe to say that the number of people willing to take a stab at a career in financial advice is as daunting as ever. It’s easy to sell an investment that returned 20% last year – not so easy when the markets have been flat for a decade and interest rates near zero. That’s how the novice will see it. The need for solid financial planning and advice has never been greater given the obvious impediments to growth of assets. For professionals who were once feeling threatened by the wide spread adoption of internet trading sites, high profile talking heads extolling the use of indexing and “read my book and you can become your own financial advisor” types it’s a time of validation and new found respect. Investors now realize this stuff gets complicated. And it’s not easy. If it were we’d all be rich! That said, a young person entering the profession today will see the ride of their lives given how many people in this country are in dire need of help. Also adding to the underserved is the fact that advisors with a lot of experience are culling the accounts with less than $250k in assets. Who will fill the gap? On line services like Fidelity’s “dial an advisor” service. You don’t have to see them. You can call in your pajamas. And it’s likely cheaper than a full service advisor in your home town. But how accountable is a guy or gal 1000 miles away that will never run into to you in the super market or suffer the damage of word of mouth slights when they don’t do right by the client? Only time will tell I suppose. It will be interesting to watch.