If they doubt that the firm or its employees are truly interested in making the customer’s money grow, rather than claiming as much of it as possible in the form of fees and bonuses, they will be reluctant to deal with financial firms. These are just two examples of the way in which consumers’ trust in financial firms can break down.
In the last few years we have seen plenty of examples around the world of financial firms that have lost the trust of their customers and have paid a heavy price.