In the 1950s, the US Air Force faced a significant problem. Despite advances in aircraft technology, accident rates were stubbornly high.
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Investigations eventually revealed that the issue was not the aircraft or the pilots themselves. It was the assumption on which the cockpit had been designed: that a cockpit built for the ‘average’ would fit most pilots.
After measuring over 4000 pilots for 140 physical dimensions, the Air Force discovered that while many shared certain characteristics, no pilots matched the average across all key dimensions. No one would fit the cockpits perfectly and this was introducing risk. The solution was not to build bespoke aircraft for every pilot. Instead, manufacturers introduced adjustable seats, controls and pedals. In other words, they created optionality and adaptability within a governed framework.
The analogy remains highly relevant for advisers today. Clients have different objectives, time horizons, risk tolerances, capacity for loss, sustainability preferences and income needs. This is where optionality and adaptability become important.
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