FACT: It’s hard to see what we can’t see…
One of the hardest truths to accept — in finance, relationships, and life — is that our thinking isn’t always as clear as we believe it is. We all have blind spots. Not because we’re foolish, but because we’re human. And, we don’t know… what we don’t know.
Biases are the invisible forces that shape our decisions and filter our perceptions. They form from lived experience, the communities we belong to, and the stories we’ve been told. And, they often do their work in silence.
You don’t notice them until you actively go looking. And even then, it takes courage to admit they might be holding you back.
In financial planning, these blind spots can derail even the most innovative strategy. A well-diversified portfolio means little if it’s being second-guessed by internal narratives you’ve never examined. This first blog explores six of the more common biases we see, especially when people are navigating life transitions or trying to plan responsibly for the future.
Let’s unpack a few:
Confirmation bias
We tend to believe what aligns with what we already know. When we encounter new data, we measure it against our existing assumptions — not necessarily against the facts. This is why some investors keep holding underperforming assets, or why clients dismiss opportunities that “just don’t feel right” even if they’re aligned to the plan.
When working through change, this bias can make us cling tightly to the past, rather than opening up to possibility. The antidote is curiosity — and a financial planner who can offer a new lens, not just more information.
Complexity bias
We assume complex problems need complex solutions. Sometimes, a simple and effective financial strategy is rejected because it doesn’t “sound clever enough.” But simplicity is often a marker of wisdom, not a lack of intelligence.
This is where our relationship can offer tremendous value — not by dazzling you with jargon, but by simplifying the noise into something you can confidently act on.
Community bias
It’s hard to question what everyone around you accepts as normal. If your peers are investing in property, starting a side hustle, or avoiding certain decisions, it can feel uncomfortable to choose a different path — even when that path is better aligned with your goals.
The goal isn’t to follow the herd, but to tune into your own definition of success.
Competency bias
We all have blind spots about how much we know (and how much we don’t). Some people overestimate their expertise and avoid professional advice. Others underestimate their understanding and feel too intimidated to ask questions.
The role of a financial planner isn’t to judge either. It’s to walk with you — to help you make confident, informed decisions, no matter your starting point.
Comfort (familiarity) bias
Let’s face it — change is hard. Our brains are wired to favour what feels familiar, even if it’s not working. We avoid the discomfort of revisiting old plans, challenging bad habits, or having difficult conversations.
That’s why small, manageable changes matter. A planner can help you take the first step toward a better outcome, without demanding a complete overhaul.
Confidence bias
We often trust the loudest voice in the room. Confident people, bold strategies, and market hype can sway even the most rational thinker. But confidence isn’t always competence.
That’s why part of financial planning is learning to trust your own process — not the noise. True confidence comes from clarity, not charisma.
In the next blog, we’ll explore biases that show up in our emotional and political identities — including our reactions to risk, fairness, fear, and control. Because when it comes to money, it’s never just about numbers.
It’s about what shapes us.