Financial planners have not done well when it comes to the general public's perception of their ethics and honesty, according to a survey conducted by Roy Morgan.
Roy Morgan's Image of Professions 2016 survey asked people to rate 30 professions in regards to ethics and honesty as either 'Very high', 'High', 'Average', 'Low' or 'Very Low'.
It found that only 27 per cent of those surveyed rated financial planners as 'High' or 'Very high' for ethics and honesty, up 3 percentage points from a year ago.
In other finance-related occupations, accountants rated at 51 per cent (up 6 percentage points), bank managers at 30 per cent (down 4 percentage points), and stockbrokers at 14 per cent (up 2 percentage points).
Of all 30 professions surveyed, 23 increased in regards to ethics and honesty while four professions decreased and only three professions were unchanged.
Nurses rated the highest for the 22nd year in a row, with 92 per cent rating them 'High' or 'Very high' for ethics and honesty, while car salesmen rated the lowest at only 4 per cent.
The survey was conducted by telephone with 655 Australian men and women aged 14 and over.
SUBSCRIBE TO THE IFA DAILY BULLETIN
- 14 Dec 2018ASIC clarifies RG 146 requirements for advisersBy Adrian Flores
- 14 Dec 2018Sargon Capital acquires listed robo adviserBy James Mitchell
- 14 Dec 2018Industry body flags CPD burden under FASEA proposalBy Adrian Flores
- 14 Dec 2018Adviser exodus creating ‘enormous opportunity’ for accountantsBy Jotham Lian
- 14 Dec 2018Advisers embracing ESG investing, says surveyBy Adrian Flores
- 13 Dec 2018AFA picks apart CPD policy from FASEABy Adrian Flores
- view all