Terminal length is determined by how quickly your beard grows & how long the hairs naturally stay attached to your face. As your longest & oldest hairs fall out the beard length reaches an equilibrium where it appears to not get longer. Few hairs manage to get to that length & so you get a tapered point to your beard where it gets thinner down the bottom.
The wooliness can be tamed with a brush, hairdryer & some beard wax. This will straighten out the hairs & bring them into line.
This 'styling' takes about 5 mins when you get out of the shower. Finding a decent beard wax is the hardest part.