Post by Whitney Heckathorne, Public Relations Research
While Laura is out on vacation for the next two weeks, my colleague Kathy Steinberg and I will be
dominating managing the blog. So please feel free to comment/email/message either of us and we will be happy to get back to you.
Now… on to today’s entry...
Compared to the entertainment news of this past week, the Bernie Madoff trial barely even made a blip on the radar. But, alas, Mr. Madoff was tried and given the maximum sentence of 150 years in prison—so hopefully we can all rest easier at night, and our trust in financial institutions (not to mention our judicial system) may gradually start to increase.
But, as of right now, how honest and trustworthy do we really believe these institutions to be? According to a recent Harris Poll, the overarching theme is: NOT AT ALL. Gulp.
Below are the percentages of U.S. adults who believe the following types of companies are generally honest and trustworthy (i.e., you would normally believe a statement by someone who works for one of these types of companies):
- Accounting firms—14%
- Life insurance companies—13%
- Financial planning firms—13%
- Health insurance companies—12%
- Investment firms—7%
- Mortgage compaies—6%
- Wall Street—4%
- Credit card companies—3%
Can we note that 4 of these types of companies have fewer than one in ten U.S. adults believing they are honest and trustworthy? And it should also be noted that nearly 6 in 10 (58%!) do not believe ANY of these types of companies are honest and trustworthy.
What can these institutions do to regain our trust? Specifically, what can they do to regain YOUR trust? Assuming you ever trusted them to begin with…