When it comes to choosing a financial adviser and a financial
services firm, investors give themselves high marks. More than three out of
four investors feel confident in their ability to assess financial advisers
(76%), while 74% feel they are capable of finding a trustworthy adviser.
Financial strength ratings are the most important to investors (84%) in deciding whether to trust a financial services company. Almost two-thirds (61%) of investors say that being in business for a long time is an important factor in determining trustworthiness.
When assessing the trustworthiness of a financial company, six out of 10 investors say that the recommendation of their financial adviser is important. Half of investors report that the opinion of peers and other customers is important in evaluating whether to trust a financial company, and nearly as many (48%) feel it is important to seek recommendations from friends and family.
“Our survey found that investors respect their financial advisers and look to them for guidance in making financial choices and decisions. Despite ongoing uncertainty in financial markets, this bond is an enduring one,” said David Longfritz, chief marketing officer for John Hancock.
Members of Congress, on the other hand, are seen as untrustworthy by more than two-thirds of investors (68%). The Occupy Wall Street movement is not far behind, with nearly six in 10 (57%) saying they do not trust this group.
Thirty-one percent of investors say they have a lot of trust in
Federal Reserve Chairman Ben Bernanke. More than a quarter of investors (28%)
say they find President Barack Obama trustworthy. More than a quarter of
investors surveyed (28%) say they trust the financial news media.
John Hancock’s Trust Survey is an online survey conducted by independent research firm Mathew Greenwald & Associates. A total of 1,001 investors were surveyed between November 28 and December 6, 2011.