What's Stopping Investors Taking Financial Advice?

The advice industry's reputation has taken a battering in recent years, but that's not the only reason that today's investors want to stay in control

Holly Cook 13 May, 2014 | 2:15PM

Is the adviser community facing something of a crisis of trust? Individuals rank trust as by far the most important consideration when choosing a financial adviser and yet as a whole the advice industry is viewed as barely more trustworthy than insurance providers or investment bankers. These results emerged from an April survey* of consumers who use Morningstar.co.uk to research and monitor their investments.

Over half of the 1,000 participants said trust was their primary consideration, followed by the adviser’s reputation and then their cost. Past investment returns came in fourth, while considerations such as the adviser’s tech savviness or locality were of little importance to most consumers.

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About Author

Holly Cook

Holly Cook  is Manager, Morningstar EMEA Websites

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