One of the most striking changes in the more than 30 years I have been involved in professional investing is the evolution of investment advice and products.
It used to be that a stockbroker's value came from having something unavailable to the average citizen: access to and knowledge about financial information. Stock prices could only be found on the ticker tape in brokerage offices or the next day in the newspaper. The only sources of company financial information were Value Line and the S&P tear sheets. Today, most financial advisors are asset allocators often using sophisticated software that did not exist 30 years ago.
There are now three full-time networks devoted solely to business and financial news, and stock quotes are ubiquitous. They were on the video in my taxi today, along with up-to-the-minute business news.