Fund groups are least trusted financial services firms - PwC survey

Just 12% of the general public trust the fund managers, according to a new report by PwC which ranks the industry below retail and investment banks in terms of trustworthiness.

A PwC report entitled How financial services lost its mojo - and how to regain it found that 12% of survey respondents trusted fund groups, compared with 27% for insurance providers, 28% for financial advisers, 32% for retail banks and 13% for investment banks. The group surveyed 2,000 people for the report. When asked for the reasons why they did not trust fund groups, 25% pointed to press coverage, 19% highlighted pricing transparency, a further 19% said personal experience, and 14% conversations with friends and family. More broadly, almost half of those surveyed believed financial...