Psychologists have today released a report that brings a diagnosis to thousands of sufferers. The employed advisers of national advice firms have for years laboured away without diagnosis but now have some comfort in knowing what they face.
From mass observation studies, scientists now believe that many of these advisers are affected by Stockholm syndrome more commonly seen amongst hostages. Whilst it is unclear at this stage whether this will bring relief to those suffering from this condition it is being hailed as a breakthrough by survivor groups.
Symptoms of the condition include an unwavering belief in the superiority of in-house investment solutions without any independent data to verify this, the ability to change ones view depending on the prevailing view of the CEO and general torpor. One insider was quoted as saying “I get paid a fraction of what I generate for the shareholders but on the plus side I have my own desk and don’t have to think for myself”.
We spoke to a survivor who recently escaped who said “I hadn’t looked beyond my new business target for years and then suddenly realised I had aged and hadn’t seen my kids. The constant busyness means that you don’t get any time to stop and consider whether what you are doing is right but I am free now”.
Dr Faustus of the Institute De Fleishlichen who led the study is hoping that the upcoming Cochrane review of all the existing evidence might lead to the government taking action to boost support for this group. Dr Faustus said “We will now be broadening our research to asset management companies to establish whether the same effect explains their irrational belief in their ability to outperform the markets”.