Some new players in the wealth management industry are granting themselves the title of investment advisor. The problem is, they don't have the credentials to operate under these terms. With the increased use of the term, the line between who is a real advisor and who isn't has become blurred.
Even though investor trust has actually improved since the global financial crisis and the days when convicted fraudster Bernie Madoff was front-page news, there is still a lot of angst regarding financial professionals.
Look no further than Hollywood and the recent George Clooney movie "Money Monster" as another example that society at large thinks the game is rigged and that retail investors can't get a fair shake, no matter whom they turn to.