Big banks and fund managers have the budgets to spend millions protecting their reputations. But what can your average IFA do to build trust in a hostile environment? Laura Miller finds out...
Trust is a tricky thing, hard to gain, easy to lose, difficult to quantify. It's also the most vital facet of the financial services industry. Banks need customers to trust that they will safeguard their assets in an account until needed; insurers, that they will pay out in the event of a crisis; advisers, that they will guide decisions about what to do with hard-earned money that can make or break a future. However, some participants in each of these markets of the financial sector have broken the circle of trust they have with consumers; Northern Rock, payment protection insurance, ...
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