Advisers beat banks and fundies on ethics
Financial advisers can take heart – they are no longer down the bottom of the ethics and trust charts.
In fact, the latest Governance Institute of Australia Thetic Index 2022, reveals that while fund managers and mortgage brokers have a problem, financial advisers are not badly regarded and at least one representative organisation, the Financial Planning Association (FPA) rates reasonably well, just behind the accounting bodies and the Law Society.
Where occupations in the banking, finance and insurance sector, accountants and tax agents are seen as the most ethical, followed by financial planners, while fund managers have a problem.
Where organisations are concerned with respect to ethics, industry superannuation funds rank highly while life insurers and pay day lenders have an image problem.
Financial advisers will not be surprised that politicians ranked poorly with respect to ethics. Asked to rank the ethical behaviour of people with whom they had personal contact, doctors topped the list, but financial advisers ranked in the middle ahead of banks and just behind lawyers.
Politicians and local councillors were regarded as the least ethical
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