I got frustrated with advisers a while ago when I started learning how to read a balance sheet. What advisers say is usually true but not the whole story. They omit important things like where the money came from. They also don't analyse both sides of the medal. OB's link is a good example. Companies will also be optimistic about their forecasts. Have you ever seen the opposite? (Because of bad management, we'll lose a lot of money)
I'll admit that reading balance sheets can take a long time and some practice (And it can get boring). That's why I only have a look at new companies when I get a reason to (OB's post)
Advisors remain important because they can set the context of certain industry and competitors. This is something that's hard to research and analyse when you don't do it full time. There is also so many US DRIPs available that it's impossible to check them all out. It is in this context that I'll appreciate advisor comments.
I added Jason Zweig's website as I loved his comments of Benjamin Graham's Intelligent Investor. The book is a great introduction to investments with modern examples. Zweig's thought of the day give a lot to think about.