By Hal M. Bundrick NEW YORK ( MainStreet)--Wall Street needs either a public relations makeover or intense therapy. Perhaps both. In another blow to investor confidence, a new report says that nearly one-quarter (23%) of financial services professionals have observed or had firsthand knowledge of wrongdoing at their firm. And worse yet, 29% of respondents believed that financial services professionals may need to engage in unethical or illegal activity in order to be successful. The findings come from the second annual U.S. Financial Services Industry Survey by the law firm of Labaton Sucharow.
The research was compiled from 250 respondents age 18 or older who work in the financial services industry, including traders, portfolio managers, investment bankers, hedge fund professionals, financial analysts, investment advisors, asset managers and stock brokers. --Written by Hal M. Bundrick for MainStreet