Today we launched the new RaboPlus Financial Confidence Index, where we measure public confidence in the financial system and ask Kiwi's what they think of:
- Finance Companies
- Credit Unions & Building Societies
Investment Managers and Advisors
- Fund Managers
- Share Brokers
- Financial Advisors
We covered the key items that contribute to their levels of trust and confidence:
- Providing good products and services
- Financial strength
- Integrity and fairness
- Quality information
Overall there was a net negative score of 56% in terms of feeling confident about investing in the financial sector, and actually more people were more confident in investing in housing. The survey has shown the institutions consumers have the least confidence in are finance companies. It also seems that relative to insurance companies and banks, advisors have borne the brunt of the blame for the financial crisis with share brokers relatively poorly perceived.
We also asked if people would recommend their bank, insurance company etc and for those that felt they had a good relationship with their service provider, they were more likely to recommend them to friends and family.
For full details of the survey please refer to the media release and presentation below: