Forrester: Consumers' Rankings of Financial Institutions Fall to Lowest Levels in Five Years

Fewer consumers think their financial services providers have their best interests at heart, according to Forrester Research, Inc.'s fifth annual customer advocacy scorecard. Based on a survey of 5,000 US consumers, the rankings evaluated 41 leading US banks, brokerages, and insurers. This year, consumers' ratings of financial institutions are down across the board, falling to their lowest levels since Forrester began surveying customer advocacy five years ago. Forrester attributes this year's drop in ratings to a broad decline in consumer confidence due to events like the subprime mortgage crisis. The scorecard was released today at Forrester's 2008 Financial Services Forum For Marketing And Strategy Professionals in New York.

Forrester: Consumers' Rankings of Financial Institutions Fall to Lowest Levels in Five Years
Source: Forbes