Question of Trust campaign steps up formally
“This is not a self interest campaign: we are seriously interested in arresting the problem. We have a crisis on our hands and the consumer doesn’t know where to turn.”
These were the words of Shane Mullins, chief executive of advisory firm Fiscal Engineers and professor Christine Ennew of Nottingham University’s Financial Services Research Forum, some of the founding members of the Question of Trust campaign.
In a video interview for FTAdviser, Mr Mullins and Ms Ennew talked about their campaign to restore trust in a financial services industry that has been rocked by scandal in recent years.
Ms Ennew said: “There is increasing evidence there is an issue around consumer levels of trust which are not as high as they should be and not as high as they need to be for financial services markets to work effectively.
“We have systematic, independent and academic evidence about this, and The Question of Trust takes six to eight years’ work and transform it into something that has the potential to make the difference to both consumers and to the industry.”
Mr Mullins said: “We have had good positive initial response and broad support from the industry, at least verbally if not in terms of financial support.
“Also we had Dr Rowan Williams, outgoing Archbishop of Canterbury, give his thoughts on this and so it is clearly a wider, central issue.
“It is important to restore trust in an industry that has built its strength on a future promise. That said, we need more engagement around the industry on this issue.”
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