Well, I'm in the asset management industry and I share the opinion of many here. But just to clear up a couple things...
It's true that becoming an "advisor" takes very little effort, knowledge, or skill. A quick course to pass a $75 test. History
indicates that there is little added value there as most people who use this type of advisor typically underperform the broader market equivalent to the 1/2-2% management fee.
A step up from that is the CFP. More schooling and harder to get this cert. They can add value as 'planners' for those who don't manage finances well, but still typically have little to offer in the form of investment analysis and selection. Most still just hook up with an insurance underwriter and mutual fund company and sell those products to their clients for a commission in addition to the management fee.
Then there are those of us in the pooled fund and alternative managed account space. The best of us have spent many years developing the analysis models to consistently generate "alpha" (excess non-correlated returns) for our clients. Many of us aren't interested in management fees
and instead charge a percentage of profits. Typically, fees
are 15-30% of net new profits with a high water
mark. IOW, if my clients' account balance this quarter isn't higher than the highest previous quarter, they don't pay me any fees.
We don't sell a product. We don't prepare budgets. Any joker can do that. My job is to generate high positive returns regardless of market conditions. No excuses! Unlike financial advisors who can use the excuse of a down market, I operate in the realm of absolute returns. Up, down, or sideways market doesn't matter, my clients expect good returns in all conditions.
BTW, the Monte Carlo is prob the most misunderstood and misused tool in all of finance. To use it to stress test a financial plan based on historical market returns is just silly. It is appropriately used in our more complex statistical algorithms along with kernel density estimation in cases where simple arithmetic averages are useless. As such, it is incredibly useful and in fact the only way to accomplish what we do. Used otherwise, it really is just 'the most complex averaging method ever'.