Recently, Julie Littlechild and her team at Absolute Engagement (also a 3rd Wave collaborative partner), examined the scope and impact of trust between clients and advisors through a survey of more than 1,000 clients of financial advisors across the country. The level of trust, researchers found, was very high. In fact, 90 percent of clients surveyed indicated they trust their advisor, 90 percent said they were loyal, and 89 percent said they were satisfied.
However, this level of trust does not, it turns out, extend to the financial services industry as a whole. Julie's Investor Study shows that only 7 percent of clients rate their level of trust in the industry as a 5 out of 5.