Trust, in some form, is at the center of all financial transactions. Investors must have confidence in the financial system overall, and trust is especially important for investment management, since client outcomes manifest only over a future horizon. This report is the fifth in a biennial series examining how trust in the industry has evolved, while the essential characteristics of trust endure.

CFA Institute defines the three themes affecting investor trust today: a divided trust landscape, technology as a trust multiplier, and the additive factors of values and personal connection. The trust divide highlights differences in investor cohorts to dissect how age, geography, and the presence of a financial adviser all act as modifiers of investor trust. Technology acts as a trust multiplier; investors expect access to technology and believe technology enhances trust. The plus factors of values and personal connection are additives to trust that allow advisers to better understand and support clients with product offerings and advice aligned with client beliefs.

The report was compiled using survey data from 3,588 retail investors and 976 institutional investors from 15 global markets.