Though five years have passed since the global economic meltdown began, the public remains wary of the financial services sector. More than half of people polled by Harris rated the overall reputation of the financial services industry as negative, and only 46% of respondents identified themselves as trusters of the global financial services industry.
Although these figures are slightly more positive than previous years, they remain a major concern for advisors trying to grow and succeed in this industry. Events like large-scale financial fraud, the severe market downturn, and losses in the housing market caused many investors to lose much of their wealth and retirement savings. This also caused the public to grow more skeptical of investing or entrusting their money to financial professionals.
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