To date, researchers investigating the influence of social networks on trust perceptions have focused on the actual network. Yet, individuals vary in their perception of surrounding ties and these differences may influence their judgments of trust. This study uses a cognitive social structure (CSS) approach to conceptually and empirically investigate whether perceived or actual network perceptions influence perceptions of trustworthiness when we account for both. Focusing upon the advice network, this study investigates whether a trustor’s perceptions of dyadic advice-seeking, mutual shared advisees (i.e., third parties that go to both the trustor and trustee for advice) and trustee advice-giving centrality influence perceptions of a trustee’s trustworthiness when controlling for the actual advice ties and configurations. The results indicate that trustors’ perceptions of dyadic advice seeking ties, and trustee advice-giving centrality predict their perceptions of a trustee’s trustworthiness above and beyond their actual network counterpart. Moreover, when exploring how the actual and perceived advice networks interact, we find a supplementary relationship which results in trust rising when individuals perceive too many ties when actual ties don’t’ exist, but not dropping when they perceive too few ties, when actual ties do exist.