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  1. Wealth
April 19, 2010

WBrief: Trust in wealth managers falls

By Spear's

Well publicised losses of trust in wealth managers by their UK clients has not yet galvanised firms to improve customer satisfaction, at least according to a survey of clients by UK-based Ledbury Research.

Well publicised losses of trust in wealth managers by their UK clients has not yet galvanised firms to improve customer satisfaction, at least according to a survey of clients by UK-based Ledbury Research.

A poll of 500 clients of wealth managers late last year showed that 44 per cent of customers were satisfied with their service, compared with a reading of 49 per cent when the same question was put 12 months ago when the financial crisis was still raging.

The survey, meanwhile, also revealed that 39 per cent of people who suffered a bad experience either did nothing or just moved their funds to another wealth firm. “This ‘silently disappointed’ group represents more than 1 in 9 UK wealth management clients across the industry as a whole,” Ledbury said.

To read the full story, visit wealthbriefing.com

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