U.S. financial institutions have a lot of work to do to win back the trust of the American investor, with about half saying they don’t trust banks to put customers’ best interests ahead of corporate goals, a survey by Harris Interactive for Cake Financial found.

In addition, only 10% of adults between the ages of 45 and 54 think mutual fund fees are justified.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.