Financial planners not so bad in eyes of public
Finally some good news for financial planners – they are better regarded than stockbrokers, insurance brokers and journalists but streets behind accountants in terms of public trust and esteem, according to the latest Roy Morgan Research data.
The data, released this week, reveals that medical professionals remain the most highly regarded people in the eyes of the public, with nurses ranking highest followed by doctors and pharmacists.
Financial planners garnered an approval rating of 25 per cent, ahead of newspaper journalists on 20 per cent but well behind accountants on 50 per cent.
Perhaps surprisingly, given recent adverse publicity around the major banks, bank managers rose in the eyes of survey respondents to record 33 per cent.
But importantly, union leaders, TV reporters, Federal and State MPs, talk-back radio announcers, stockbrokers and insurance brokers all rated much lower with car salesmen ranked lowest of all on just four per cent, slightly behind advertising people on five per cent and real estate agents on seven per cent.
Of the financial services callings, insurance brokers and stockbrokers were held in least regard with 10 per cent and 11 per cent respectively.
Commenting on the results, Roy Morgan Research chief executive, Michele Levine noted that 12 professions had increased their ratings for ‘ethics and honesty’ compared to a year ago, while 16 professions decreased and two professions were unchanged.
“For the 23rd survey in a row Nurses 94 per cent (up 2 per cent from 2016) have retained top spot ahead of several other medical professions including Doctors on a new record high of 89 per cent (up 3 per cent) and Pharmacists on 84 per cent (down 2 per cent).
“The recent improvements of the rating of Police – now at a record high 76 per cent(up 4 per cent), and up 11 per cent over the past decade since 2007 – a larger long-term increase than any other profession may reflect the increasing importance of the profession in an age of heightened worries about terrorism,” she said.
“Views of Bank Managers also improved over the past year with 33 per cent (up 3 per cent) of Australians rating them ‘very high’ or ‘high’ for ‘ethics and honesty. The improvement for Bank Managers came despite the Government’s decision to impose a new tax on banks in this year’s Federal Budget delivered in early May,” Levy said.
She said the biggest losers in 2017 were Talk-back Radio Announcers on 14 per cent (down 5 per cent) and at their equal record low rating first achieved in 2000, Stockbrokers on 11 per cent (down 3 per cent) and hitting a new record low and Advertising people on 5 per cent (down 4 per cent). Only Car Salesmen on 4 per cent (unchanged) – a position they have held for over 30 years unchallenged as Australia’s least trusted profession – were lower.
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