According to a recent survey by John Hancock investors trust their financial advisor more than any other institutional professional.  Of the 1,005 investors surveyed 85% “strongly trust” their financial advisor.  Primary doctors and accountants received 79% and 74% scores respectively.  Further down the list are contractors (52%) and real estate agents (43%).

It’s interesting to note the level of “strong trust” seemingly declines as the level of commoditization increases.  What does it say about the future of the advice business as more and more people rush into the growing field – as technology drives down the cost?  Are veteran advisors any less trustworthy because more people join our ranks?  Is the value we add any less because of the DIY crowd and their ‘there are so many of you so it can’t be that hard’ perception?

In a related survey John Hancock asked investors to rank several high profile people and institutions.  The results are similarly interesting.  Ben Bernanke receives “a lot of trust” from 31% of investors while 28% look favorably upon President Obama – the same rank given to the financial news media.  Poor Congress…a whopping 68% of investors view the House and Senate as “untrustworthy.”  The Occupy Wall Street movement isn’t far behind as 57% view it unfavorably.