By The Wealth Advisor | May 30, 2021
Ask any financial advisor about their most valuable asset, and every single one would probably tell you—it’s trust. But according to recent data issued by the CFA Institute, some advisors may be struggling in this area.
Establishing Trust in a Skeptical, Virtual World. In their latest Trust Report, the CFA Institute says only 59% of retail investors feel their advisor is the most trusted source of investment advice. And only 25% of institutional investors believe their investment firm always puts their interests first.
People today have been conditioned to question their sources of information. In many ways, this is a good thing; in others, it may not be so good. People need to think critically about the information they consume, but they also need to recognize trustworthy guidance when they see it. Either way, trust in these sources can only be established over time if their information is deemed by the recipient to be true.
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