Whistlestop Tour of Trust
What’s the algorithm of trust? If we dissect the logic which we use from the time at which ‘stranger danger’ is the subject of talks to our 5 year old selves at school, what does this look like?
Trust is one of the major barriers we face when it comes to our customers. This is why over 20% of people say they would invest more if they found a brand that they trusted. This comes second to the desire for financial firms to stop talking in jargon. Trust is another reason that so many consumers say they turn to friends and family for financial advice, something we may feel is in fact likely to be a very bad idea, likely to generate sub-optimal outcomes.
Consumer responses when asked which, if any, of the factors provided were most relevant when making decisions about which financial services companies to use for any product?
Base: 6,548 British Adults (Customer Acquisition Report, 2017)
Herman Brodie is the author of The Trust Mandate and will be joining us at our annual conference to share his findings on the common ingredients of the most trusted investment brands.
"There are many terms used to describe the sentiment known as #trust, but they are all just combinations of the same two judgements - simply in varying proportions".
We’ll also be discussing value for money and how to measure this, followed by taking a look at risk as described by 900 readers of The Times. How can we tackle these major barriers to participation in our industry?