Post Enron, Investors Still Leery

March 12, 2002 (PLANSPONSOR.com) - As the Enron scandal continues, a third of investors are skeptical of advice they might get from a professional advisor, a new survey found.

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.

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