Perception bias is a problem in almost every industry, but I would argue that it can be especially difficult for advisors.
Starting with the antics of Charles Ponzi and rolling all the way through Bernie Madoff and beyond, a few high-profile instances of negative behavior can make some prospects assume that all advisors are only in it for themselves and have no real interest in doing good for their clients.
|Impact on business growth
How we manage perception bias, both when its directed toward us and when we direct it toward others, can have a powerful impact on business growth.
Michael Lewis — the author of many books that have attracted Hollywood's attention, such as Moneyball and The Big Short — has a new book called the The Undoing Project. The book itself covers a wide range of stories, some small and some big, but much of the writing has to do with how we make decisions and the factors that might influence those decisions.
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