FCA study: 40% of people trust financial advisers

Less feel financial firms 'honest and transparent'

Four-in-ten people have told the regulator they trust regulated financial advisers, according to the Financial Conduct Authority's (FCA) Financial Lives survey.

The FCA interviewed 13,000 people about their personal finances and found just 39% of people say they trust financial advisers to act in the best interest of their clients, although the figure slightly differs in rural and urban areas. Adults in rural areas are more trusting of advisers, with 44% saying they believe they act in the best interests of their clients, while this figure drops to 38% for those in urban areas. These figures compare to the 40% of respondents who said they were confident in the UK financial services industry. One-third (31%) said they feel financial firms are ...