Who do investors trust? A new survey by John Hancock Financial found that investors place greater trust in financial advisors than in Federal Reserve Chief Ben Bernanke, President Barack Obama, the financial news media or the U.S. Congress.
Of the investors surveyed, 82 percent said that have a high level of trust in advisors. Only 5 percent of investors said they distrust advisors (13 percent were "neutral"), while 40 percent said they distrust Mr. Bernanke, 54 percent distrust President Obama, and 68 percent distrust Congress.
The findings on financial advisors echo those of similar studies, including a NAIFA poll that found 73% of consumers who have worked with a financial advisor say the advisor provides valuable service and 75% say their financial advisor works in their best interest.