Consumers do not believe that financial services company chief executives and directors care about the value for money they deliver, new research suggests.
In a survey of 2,000 UK adults, just 2 per cent said they though senior management at financial services companies cared “to a great extent” about delivering value for money.
36 per cent thought they cared “to a poor extent.”
Investment firms fared slightly better than banks, but 63 per cent still thought they cared to a little or poor extent about value for money.
That figure was 70 per cent for insurers, the 3R Insights survey says.
Value for money is one of the key theme’s in the FCA’s ongoing review of the asset management sector.
Attitudes towards quality of customer service were also criticised by consumers in the survey, more than half of whom thought financial services bosses only cared about service to a little or poor extent.
The 3R report adds: “We gave respondents free rein to offer personal views on which aspects of their experience of financial services they liked most. By far the biggest response was a single word: ‘Nothing’.
“When it came to what consumers like least about their experience as customers of financial services companies they were extremely forthcoming.”