Consumers don’t trust the financial services industry: survey
Announcement posted by Yell Creative 19 Sep 2017
Fin services ranked last from five key sectors by 1,500 consumers
Australian consumers rank financial services as the least trusted industry, behind pharmaceutical, technology, telecommunication companies, and the Federal Government, a survey has revealed.
The survey of over 1,500 Australian consumers, conducted by Yell Creative in partnership with YouGov, asked participants to rank the industries from most-trusted to least-trusted, over 33% indicated they do not trust the financial services industry at all, contributing to the overall ranking of last behind four other key industry sectors.
When Yell Creative asked the same question of over 250 senior financial services marketers, the result was almost the direct opposite with financial services ranking second behind technology companies.
In verbatim comments, consumers said financial services firms put the business's needs ahead of the best interests of the consumer, and highlighted a lack of transparency around fees and charges.
The survey also looked at how much consumers trust different sectors within the financial services industry, providing some interesting insights into how the length and nature of a relationship with a financial services provider affects the level of consumer trust.
For the full survey results go to: www.yellcreative.com/survey
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For more information, please contact Yell Creative:
02 9310 1444
info@yellcreative.com
The survey of over 1,500 Australian consumers, conducted by Yell Creative in partnership with YouGov, asked participants to rank the industries from most-trusted to least-trusted, over 33% indicated they do not trust the financial services industry at all, contributing to the overall ranking of last behind four other key industry sectors.
When Yell Creative asked the same question of over 250 senior financial services marketers, the result was almost the direct opposite with financial services ranking second behind technology companies.
In verbatim comments, consumers said financial services firms put the business's needs ahead of the best interests of the consumer, and highlighted a lack of transparency around fees and charges.
The survey also looked at how much consumers trust different sectors within the financial services industry, providing some interesting insights into how the length and nature of a relationship with a financial services provider affects the level of consumer trust.
For the full survey results go to: www.yellcreative.com/survey
*****************
For more information, please contact Yell Creative:
02 9310 1444
info@yellcreative.com