IFA begins bid to restore trust in financial services

An independent financial adviser is spearheading a campaign to revive trust in financial services, which he said has reached "crisis point".

Shane Mullins, chief executive at Nottingham-based Fiscal Engineers, hopes The Question of Trust campaign can help the industry win back the support of the general public after the financial crisis and the unethical actions of some of its largest stakeholders.

The campaign has the backing of the Institute of Financial Planning, among other organisations.

"There has been a damaging run on trust building up in the financial sector over many years," campaign founder Mullins said.

"We are now at crisis point. If we fail to arrest these challenges, I fear we will breed a generation of mistrust and the social consequences, and impact, of this could be profound."

The campaign is seeking to bring together a national and unified professional standards approach across the entire financial services industry.

It also intends to produce a baseline measure of trust by making annual surveys. The results will feed initial and ongoing recommendations as to how trust can be engaged with and improved across the industry.

Find out more about the campaign HERE.