Rebuilding Trust: A Critical Opportunity in Financial Services
Trust is the currency of modern banking—and it’s in short supply. Only 40% of American consumers say they find brands trustworthy, despite 80% considering trust vital in financial decision-making. This gap is especially pronounced among multicultural consumers, who are poised to drive the future of financial services.
The question isn’t whether trust matters—it’s how brands can earn it back, particularly from diverse, fast-growing consumer segments that expect more than one-size-fits-all messaging.
-
66%of hispanic consumers
prefer Spanish-speaking financial advisors
-
only
40%
of American consumers think brands are trustworthy.
Multicultural Consumers Are Watching—and Waiting
Multicultural segments—including Hispanic, Black, Asian, and White Americans—each bring distinct expectations around communication, representation, and transparency. For instance:
- 66% of Hispanic consumers prefer financial advisors who speak Spanish.
- Black consumers prioritize representation and empathy, especially from advisors who share their identity.
- Asian Americans lead in digital banking but want expert guidance and tailored financial platforms.
- White consumers place the highest emphasis on consistency and transparency in service.
These nuances are more than preferences—they’re signals of intent. Hispanic and Black consumers, in particular, are actively exploring new financial relationships, making now a pivotal time for brands to reintroduce themselves through a culturally intelligent lens.
Get your excerpt of our latest Financial Services Industry Guide today.
One-Size-Fits-All Won’t Cut It Anymore
The financial services sector must move beyond surface-level inclusion efforts. Rebuilding trust requires bold, authentic, and segment-specific strategies such as:
- Providing multilingual tools and culturally relevant content.
- Representing diverse communities in your advisor teams and marketing.
- Addressing generational wealth gaps through empathy-driven storytelling.
These actions not only demonstrate respect but also signal that your brand understands—and is ready to serve—the real needs of today’s consumers.
Download the Industry Guide
The gap in trust is real—and so is the opportunity. Dive deeper into how your brand can rebuild trust and drive long-term growth with multicultural consumers. Get your excerpt of our latest Financial Services Industry Guide today.