Research Finds Greg Smith Has A Point: People Don't Trust Financial Companies

Coincidentally, Edelman has released some further detail from its Trust Barometer focused squarely on financial institutions. Given the drubbing that Goldman Sachs took today at the hands of Greg Smith, let’s take a closer look at the findings, shall we.

The Barometer found that 46 percent of respondents don’t trust financial services. And 41 percent don’t trust banks. This is up from 2011 when trust was only at 25 percent. This Goldman article might drive that number back down the toilet.

According to respondents (thousands of adults across 25 countries), among the traits that financial institutions must embody to regain trust are the ability to place clients ahead of profits (73 percent), listening to customers (74 percent), and having ethical business practices (76 percent).

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