Money Matters - Financially Motivated Advice

 Americans are losing trust in professional advice—and referral fees are a big reason why.

A new report from financial services company IPX1031 reveals how financial incentives are undermining consumer confidence across industries:

• 40% say referral fees make it harder to trust professional recommendations
• 88% want referral fees to be clearly disclosed
• 2 in 3 are less likely to act on advice if it's financially motivated
• 86% prefer professionals who disclose all referral arrangements

Industries drawing the most skepticism: healthcare, financial services, and social media/influencers.

With 68% saying disclosure of referral fees is very important to them, 72% believe hiding referral fees should be illegal.