Investors trust advisors, not Congress: survey
By Paul Wilson
ProWEB Wire (Industry News)
The majority of individuals who work with a financial advisor display a high level of trust in the relationship, according to a survey by John Hancock Financial.
The survey found that 82 percent of investors who work with an advisor have a high level of trust in that advisor.
In comparison, Federal Reserve Chairman Ben Bernanke was highly trusted by 31 percent of respondents and President Barack Obama was considered highly trustworthy by 28 percent of those surveyed.
Members of Congress were considered untrustworthy by 68 percent of investors, the survey said.
When asked to rank the most important factors in their decision to trust a financial services company or advisor, 84 percent of investors cited financial strength ratings as important. Meanwhile, 61 percent said a long track record in the industry was an important factor, according to the survey.
“John Hancock recognizes that the issue of trust in the financial world is of paramount importance to investors, given the global events of the past few years,” according to David Longfritz, the firm’s chief marketing officer.