The idea of bringing on a "Superstar Advisor" is usually a total sham.
This isn't because the advisors themselves are a sham (they may be), but more so because our expectations of what these superstar advisors can do are way out of line.
The cost to this notion is giving away valuable equity or creating lob-sided revenue deals without really thinking through what these folks can realistically contribute. It's so easy for Advisors to make bold claims about what's possible, but like the rest of us, it's incredibly hard to back them up consistently.
But again, this normally isn't the fault of the advisors — it's our fault. We lull ourselves into expectations of these heroes that are totally unrealistic, and in many cases, not even what these ...