Weekend Reading: The Evolution of Financial Advice

This article appears as part of Casey Weade's Weekend Reading for Retirees series. Every Friday, Casey highlights four hand-picked articles on trending retirement topics and delivers them straight to your email inbox. Get on the list here.
Weekend reading evolution of financial advice Weekend reading evolution of financial advice
Weekend Reading

You don’t need to do countless hours of research to become a successful investor, but it's helpful to be familiar with financial market history, including booms and busts.


The beginning of investing: In the early 1900s, stock ownership and investing knowledge was limited. Merrill Lynch then created the first advertisement for the stock market in 1948, which attracted millions of investors. The 1950s then saw a significant bull market, and more people began to invest as they had disposable income.

The 1970s marked the rise of mutual funds, and the 1980s saw the introduction of defined contribution retirement plans, such as IRAs and 401(k)s, leading to a greater need for financial advice. In the 90s, a stock market boom fueled by the dot-com bubble further increased market participation. However, the 2000s were challenging, as the market experienced losses amidst the Great Financial Crisis of 2008.

Where we are now: While the 2010s introduced investment automation through robo-advisors, what truly became emphasized is the importance of comprehensive financial planning. Now, technological innovations, lower fees and easier access to data have revolutionized the investment landscape on all fronts.

You deserve a confident financial future, and that begins with comprehensive financial guidance. In a world with abundant choices and information, it’s never been more vital to stick to your plan and filter out the noise.