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Microsoft Financial Services Industry Survey Results

Explore the results of a 2009 survey on the level of trust among young adults (18-29) in the U.S. financial services industry and government. Discover opinions on various financial institutions and activities, as well as trust sources and future financial concerns.

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Microsoft Financial Services Industry Survey Results

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  1. Microsoft Financial Services Industry Survey Results Survey of Adult “Millenials” 18-29 years old September 2009

  2. Survey Methodology

  3. Detailed Findings

  4. Level of trust in the financial services industry and the government are both down Given the economic and financial problems over the past year in the U.S. and around the world, has your level of trust in the U.S. financial servicesindustry increased, decreased or stayed the same? Given the economic and financial problems over the past year in the U.S. and around the world, has your level of trust in the U.S. government increased, decreased or stayed the same?

  5. Eight in ten have favorable opinions of community banks while less than half have favorable opinions of Wall Street investment banks Please tell us your current opinion of each of the following institutions that are part of the U.S. financial services industry. For each one we would like to know if you have a very favorable, somewhat favorable, somewhat unfavorable, or very unfavorable opinion of them at this time. (RANDOMIZE.) % Favorable opinion 80% 73% 72% 71% 68% 67% 58% 55% 49% 48%

  6. Only half of “Millennials” feel that the financial services industry is in touch with their generation We’re now going to list some statements and after each one we would like you to tell us how well you believe this statement describes the overall U.S. financial services industry that includes banks, capital markets firms, insurance companies, etc. – very well, somewhat well, not too well, or not well at all. (RANDOMIZE.)

  7. Two-thirds are less likely to invest money into the stock market given the economic and financial problems of the past year Given the economic and financial problems over the past year in the U.S. and around the world, please indicate if you are much more likely, somewhat more likely, not too likely or not likely at all do each of the following activities. (RANDOMIZE.) % Not likely to do activities 67% 51% 45% 22%

  8. “Millennials” are more likely to trust their parents and friends when it comes to seeking advice concerning financial planning We’re now going to list people and organizations some people turn to for information and advice about issues related to financial planning. After each one is listed, please tell us how much you would trust financial planning information and advice you would receive from this source – a great deal, some, very little, not at all. (RANDOMIZE.) % Trusts a great deal or some 81% 71% 66% 64% 56% 55% 48% 45% 36% 30%

  9. The vast majority of “Millennials” are concerned about their financial future Given the economic and financial problems over the past year in the U.S. and around the world, please tell us how much you agree or disagree with each of the following statements. (RANDOMIZE.) % Agree with statements 85% 82% 80% 78% 75%

  10. There are many activities financial institutions can adopt to improve trust among “Millennials” Please tell us how important it is to you personally for financial institutions to adopt each of the following activities to improve your trust in this current economy? (RANDOMIZE.) % Find important to improve trust 92% 89% 86% 82% 74% 68% 59%

  11. Three-quarters find monthly emails a useful and valuable communication vehicle Please tell us if you would find it useful and valuable for financial institutions to use the following technologies when communicating with you, explaining your financial risks or rewards, etc.? (RANDOMIZE.) % Find useful and valuable

  12. Appendix

  13. Respondent Profile

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