The Intersection of Trust, Financial Services and the Family Business

According to the 2018 Edelman Trust Barometer, people’s trust in business, government, NGOs and media has yet to recover, revealing growing levels of mistrust globally. However, positive regulatory steps, a renewed focus on client satisfaction and data security, and a clearly communicated social purpose have helped the financial services industry reestablish some of the trust lost during the financial crisis. Yet, only about half of the public view the industry favorably. Contrast this with family businesses, the most trusted form of business globally, and it’s apparent there’s still much work to be done. In this session, we’ll discuss the role of trust in financial services, the connection between wealth and skepticism, and best practices the financial services industry can adopt to continue to build trust.