The investments, pensions and securities market is the least trusted by UK consumers, and thought as honest as the second-hand car industry by Europe.
Only estate agents and second hand car salesmen rank lower in the UK, according to the EU-wide autumn 2010 Consumer Markets Scoreboard.
Financial services, estate agent services and internet service provision are the markets most likely to be failing consumers across the EU.
Among goods markets, second-hand cars scored lowest.
The Scoreboard ranks 50 consumer markets - from food to domestic appliances to car repair - in all EU countries by looking at comparability, consumer trust, consumer satisfaction, problems, complaints, the ease of switching providers and prices.
Investments, pensions and securities and telecoms services (mobile
telephony, internet and fixed telephony) are the services which have reported
a higher level of switching.
The current economic crisis may explain some of consumers' distrust in financial services, say the report's authors.
A lack of transparency and "difference between the advertised offer and the results of the service rendered" could also be factors they say.
The most ‘trusted' markets are either ‘personal' services such as personal care, dental or funeral services, white goods, and ‘fast moving' categories such as bread, rice and cereals or books, magazines and newspapers.
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