Trust & Confidence Index 2021

Trust is not something that can be taken for granted; it must be earned. It requires consistent delivery on promises, providing valuable support and advice, and building a relationship with clients over a long period of time. We cannot simply expect people to have confidence in the industry without demonstrating our expertise and commitment to their best interests.

Despite our efforts to engage members and encourage saving, lack of trust can act as a barrier preventing any message from getting through.

Our research has raised a red flag for the industry, as people have identified their lack of trust as a key factor negatively impacting their approach to saving. It is a wake-up call for the industry to acknowledge the importance of building trust with clients, and to create a service that is fit for the modern member in 2021 and beyond. We need to be transparent, supportive and encouraging, so that members know that we have their best interests at heart.