Most Singaporeans lack trust in financial planning industry: poll

Singapore

THE lack of trust in the financial planning industry is the key reason why majority of Singaporeans do not engage in financial planning here, even though they are conscious of the need to do so.

A survey conducted by the Financial Planning Standards Board (FPSB) between June and July last year, found that seven in 10 respondents said they did not know who to trust (for financial planning), making it the top barrier to personal financial planning.