September 5, 2019

The trust index – why do clients trust us?

Who do you trust the most when it comes to doing a good job? Every year, Ipsos MORI publish the Veracity Index – revealing the least and most trusted professions in the UK.

The question asked of those surveyed is ‘Who would you generally trust to tell the truth?’

At the bottom of the pile are advertising executives who (at the time of the survey in November last year) were even less trusted than our good old politicians (16% of those polled trusted MPs to tell the truth).

Not too sure MPs would score as much as 16% these days given recent events at Westminster?!

It’s perhaps no surprise that nurses and doctors are top of the list with 96% and 92% respectively. 

(It is also pretty reassuring given that we place our trust in them when most needed).

However, although buying a house is often the singularly largest investment that most people will make, only 30% of us trust estate agents to tell the truth.

Financial advisers and planners are not listed in the index

But results from an FCA survey published last year show that only 31% of those surveyed feel financial firms are honest and transparent against a back-drop of only 16% regarding themselves as highly knowledgeable about financial matters.*

Compare this with our own client survey conducted earlier this year, where 100% of new clients surveyed felt that the advice, recommendations and fees were clearly explained and were confident their adviser at Sutherland Independent could help secure their financial future.

Nobody likes a show-off, but didn’t we do well?  Why not take a look at the results in more detail.

So what is our big secret, the magical formula to ‘convince’ all those that come before us that we’re not MPs in the making but actually a trustworthy bunch?

Sorry to disappoint, but it is quite straightforward really. Here are a few reasons that immediately spring to mind:

  • We do a lot of listening. Your future financial plan is driven by what you want to achieve – objectives that are often unique to you. Listening so as to understand them completely, is fundamental to our planning process.
  • Communication is key. A lot of effort is made on our part to communicate concepts and plans clearly, avoiding mundane industry jargon. That way not only do we understand what you want to do, but also you understand how to get there.
  • Planning and more planning. Any plan created specifically for you will be based upon a vast number of assumptions made at the time such as intended lifestyle, personal circumstances and health – as well as the less interesting (but just as important) things such as interest rates, inflation and investment returns. This ensures that your plan ebbs and flows with everything that life may throw at you in the future. 

If this sounds like the way you’d like to work then please get in touch, we’d love to hear from you.

You can also see where your own profession ranks in terms of trust by following the link below:

Find out more about trusting Sutherland Independent here:

*Source, The Financial Lives of Consumers Across the UK -Key Findings from the FCA’s Financial Survey 2017 – published June 2018.

September 5, 2019