Less than half of consumers trust the financial services industry and one in five have had a bad experience with a financial company, according to research by Which?
The survey of 528 people who were either working or seeking work reveals 47% trust the financial services industry as a whole and 21% have had a bad experience with a financial company in the past. It also suggests more than two in five (43%) consumers do not have any personal pension provision. Doug Taylor, personal finance campaigner for Which?, says the industry’s past actions and mis-selling scandals have “scarred” British consumers. He states: “The industry could not be trusted to deliver on the government’s flagship stakeholder pensions policy a couple of years ago and it can’t ...
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