A retired client, Hiroshi Tanaka, separates his $3.2 million portfolio into four buckets: 'emergency fund' ($500K in cash), 'income' ($1.2M in bonds), 'growth' ($1M in equities), and 'legacy' ($500K in gold). When his advisor suggests rebalancing to a holistic 50/40/10 stock/bond/alternative portfolio with equivalent risk, Tanaka refuses because it would 'expose my emergency fund to stocks.' Which bias is the advisor most likely dealing with, and what is the primary portfolio consequence?