Once lost, a reputation is hard to regain, and it’s costing financial services companies hundreds of millions in sales.

Even with a rebounding economy and a surging stock market, 44% of marketing and communications managers at financial firms say that their companies have lost at least 5% of their business over the last year because of reputation issues, according to the Makovsky Wall Street Reputation Study released Wednesday. All told, those surveyed reported an average sales loss of 9% over the last 12 months.

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