The survey by market research firm InsightExpress found that a quarter of respondents don’t believe financial data unless they have gathered it themselves.
Asked who else they would trust:
- 20% named their financial advisor,
- 11% mentioned banks,
- 9% said friends or family,
- 5% named their accountant,
- 5% named their brokerage firm, and
- 4% said televised financial news
Finally, one in ten investors said they don’t trust anyone – a feeling that is highest among respondents planning to retire in the next year.
The study was conducted in early March 2002 among 300 investors.