The Wealth Management Trap is the culmination and conclusion of many years spent reviewing poorly performing portfolios put together by conflicted brokers and advisors, too many of whom hold themselves out to be financial and wealth “professionals” yet are trained more in sales and pushing products than in investing fundamentals.

In the first half of the book, Pretsch breaks down what the financial industry is, and does, and does not. For Pretsch, it’s important for us to be more attuned to the falsehoods and subtle sales pitches that underlie too many of the industry’s lofty claims. Most importantly, we need to attain a higher level of financial literacy than what is commonly conveyed by the term, and we need to know how to find an advisor who is right for us.

In the second, more prescriptive half of the book, Pretsch suggests some simple solutions. He guides the reader through a rational step-by-step process on a journey that ideally culminates in a strong working, collaborative relationship with an advisor who is held accountable for performance over the long haul, not the current quarter.