The Fantasy Cycle
Why group think and poor industry axioms influence our outcomes as Advisors.
Our industry breeds a certain abundance of arrogance that is uncommon in other places. While it may be seen by some as a necessary factor for success, is arrogance really a vital element for success, I’d argue that it’s not.
When the layers are pealed back a bit, I’ve realized that arrogance is rooted by an idea that success in our industry is related to achieving wealth and status - the image of the stereotypical Wall Street broker, with the fast cars, cigar collection, big personality…
Is this really what success is like or isn’t this the cliché image that actually sets in motion the fantasy cycle for many Advisors.