With this year's punishing stock market, soaring prices and rampant inflation, nothing could be more important to consumers today than trust in their financial service providers. Investor's Business Daily is once again leading the way in polling consumers to find out whom they trust and why.
IBD has just begun Phase 2 of our research for this year's Most Trusted Financial Companies special report, which will be our third. In this phase, we're surveying more than 5,000 consumers about their relationships with companies in eight business categories: auto insurance, banks, credit card issuers, home insurance, online brokers, wealth management, life insurance, and mutual funds and ETFs. You can click on the link further below or take the survey here.
IBD and MarketWatch To Report On 2022 Results
This year IBD is partnering with sister publication MarketWatch in the Most Trusted Financial Companies project.
We completed the first phase of our comprehensive study earlier this month. As in the past, the surveys are being conducted by our trusted partner TechnoMetrica Market Intelligence. In Phase 1, we determined the attributes consumers care about most.
Trust Attributes
The first five attributes were part of last year's survey and the last three (in bold) are new.
Here's the breakdown:
- Quality of products and services
- Ethical business practices and values
- Commitment to protecting the privacy and security of personal data
- Company's service/treatment of others
- Fair prices/fees for products and services
- Sensitivity to customer needs in the current economic and financial climate (inflation, stock market, etc.)
- Innovation of processes and offerings
- Treatment of employees
Clearly, this year consumers are demanding innovation and consumer-centric practices from the financial companies with which they do business. They're also interested in how those companies treat their employees, which impacts customer service.
Do Consumers Trust Brands?
Companies in the eight business categories that score the highest customer trust ratings in the Phase 2 survey will be highlighted in our report.
Most Trusted Financial Companies — Take A Survey And Win A $50 Amazon Gift Card
On Aug. 29, we'll release a complete package of stories based on the survey results, including a methodology report, company profiles and much more.
Kathleen Doler is IBD's Special Reports Editor
