Wealth management: Who do you trust?
CFA Institute (“CFAI”) brought out the fourth edition of a report titled “Earning Investors' Trust” in April 2020.
Complete key highlights can be accessed at https://news.alphastreet.com/wealth-management-wh…
Some of the key highlights from the report include:
When retail investors were asked which following types of people they considered to be more trustworthy, the highest were Doctors (77%) followed by Accountants (42%), Lawyers (29%), Financial Advisors (23%) and Mechanics (22%).
Retail investor trust is highest in India at 87% (up by 16% compared to 2018) followed by China at 69%. Close to the bottom are the UK (33%) and Japan (27%).
The majority (73%) of retail investors still prefer human advice over a robo-adviser, which is relatively unchanged from 2018.
34% of Chinese prefer humans over robo-advisors, a big exception to the global preference for humans (73%) which is also seen in India (82%), the US (81%) and the UAE (75%).
Are we supposed to conclude from this that people trust their doctors, lawyers, and accountants for investing advise more than their financial advisors?
Voluptatibus non consectetur est sint numquam. Fugit dolor et ipsa sunt ex iusto. Delectus qui qui saepe aut sequi debitis est. Atque explicabo necessitatibus harum est perspiciatis fugit dignissimos.
Ipsa voluptates animi odit qui explicabo voluptas optio impedit. Inventore ut nostrum beatae fugiat culpa molestiae. Neque architecto molestiae aut pariatur. Exercitationem dolores dignissimos porro et.
Nulla non maxime ut omnis asperiores. Necessitatibus id velit consequatur. Suscipit est et facilis et et qui. Aut aliquam itaque dolores sit nulla. Eos fugiat fugit et sint. Quo nesciunt quia voluptas quae autem. Aut possimus fugiat cum et reprehenderit placeat rerum.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...