As public outrage mounts after a series of problems culminating in the revelations last month of the LIBOR rate rigging scandal, confidence in our financial institutions is at an all time low. The campaign was set up in recognition of the falling levels of trust in the financial services industry in the UK and to garner widespread industry support to face up to and address the issues that this presents.
The campaign is the inspiration of Shane Mullins Chief Executive of Fiscal Engineers, the award winning wealth management firm and Nick Cann, CEO of the IFP. The team also includes The Financial Services Research Forum at Nottingham University and Keith Tondeur, Founder and President of Credit Action.
Nick Cann, CEO of IFP comments:
"The consumer must wonder where to look to find professional financial help to build their futures. There has been a series of despicable events and behaviours that need to halt if we are to make progress. This cancer of greed has emerged from too many sources. The people and organisations behind this campaign believe however that there is a chance to change the direction of travel and make a difference to society if more are prepared to join the journey. Good words and intention are all very well but specific action and behavioural change are required now to rebuild trust in a sector which is so crucial to the futures of the people in the UK."
Shane Mullins, Chief Executive of Fiscal Engineers comments:
"At a time where trust, or a lack of it, will almost certainly be seen as a major theme of this year's business and financial news, the question of trust must be addressed. If we do not attempt to reverse the impact of such negative behaviours and actions in all quarters, I fear the repercussions could be profound and have an incredibly negative impact on consumers."
