Mr Mullins, managing director of IFP Accredited Financial Planning Firm TM Fiscal Engineers, has launched a new campaign to regain trust in the financial services sector.

The campaign ‘A Question Of Trust’ hopes to address the lack of public trust and form a trust index for firms.

To kick off his campaign, Mr Mullins has written to over 300 business leaders to urge them to support the cause.

He will then write to them again asking for their views, opinions of trust and any necessary improvements.

Mr Mullins said: “To create better outcomes for consumers, we must turn attention to other industries if we are to learn the lessons of service quality and brand loyalty.

“To achieve this objective, the industry will need to think, act and behave differently. We need to collectively recognise that trust is a valuable asset that has a marked effect on people’s willingness to save and invest.”

Co-founding the campaign with Mr Mullins is Nick Cann, chief executive of the IFP.

He said: “This is not about any one individual, company or body. It is an undertaking to benefit the public and all who wish to excel in the financial services industry.”

The campaign is supported by the IFP, consumer group Credit Action and the Financial Services Research Forum at Nottingham University.