We wanted to get a measure of how much confidence Kiwi's have in those organisations with whom they entrust their financial wellbeing (wealth creation and insurance), so we developed and launched the RaboPlus Financial Confidence Index.
The index gives us a very clear measure of how much trust people have, and by measuring it every six months we are able to see how people's attitudes and opinions change, and what may be driving those changes.
There were no major surprises – people trust banks the most (reflects the flight to safety we have seen in the past 18 months) and have the least amount of confidence in finance companies. However, we also asked people if they are “better off” today than they were six months ago; do they think will they be “better off” in six months time; plus what they plan to invest in over the next six months … all of which produced interesting results, including the regional differences e.g. Christchurch felt more positive across the board and the continued focus on investment property.
And finally, we wanted to see how many people, who rated their relationship with the product/service provider as being good, would be willing to recommend that company to a member of their family – not always a 1:1 correlation. Does that mean people try to save face by saying they have a good relationship (why would I want to keep a bad relationship?) but would still not want to be responsible for referring a family member should they not have a good experience themselves?
We are really excited about bringing this index to the market because there is nothing similar like it that captures the opinion and sentiment of Kiwi investors.
Take a look at the:
- RaboPlus Financial Confidence Index
- What the media had to say
- Our own guest columnist Diana Clements' out-take: