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Ed Meek
CEO/Investment Advisor

Edge Portfolio Management

City:Winfield

State: IL



BIOGRAPHY:
At Edge, a low client to advisor ratio allows for personal and customized service for each individual.  Our goal is to work as a team for each client to provide not only portfolio management but wealth coordination and financial planning.  We make every effort to have frequent communication with our clients and to provide timely response to calls and emails.  I also enjoy spending time with my wife and three kids, playing and following basketball, playing golf, and participating as an advisory board member for Breakthrough Urban Ministries.

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Americans Do Not Trust Companies Who Have Their Credit Card Data

Banks are considered the safest best for credit card information security, but there is not a huge amount of trust with them.

| BY Kent McDill

When it comes to matters of the wallet, trust is an attitude that must be earned.

Today, there is not much trust between American consumers and the companies who have their personal information available in order to extend credit.

Following a year of massive credit card and online information hacks from Target to eBay to Nieman-Marcus, less than half of Americans can even register a modicum of trust for American businesses.

In a Gallup poll of approximately 1,000 adults, only 21 percent said they had “a lot of trust in the businesses or companies that you regularly do business with to keep your personal information secure?’ The next choice on the list was “some trust’’ and 47 percent of Americans responded in that manner.

That left over 30 percent who said they had little or no trust in companies to keep their personal information secure.

However, this level of un-trust is not necessarily new. Fifty-two percent of the respondents said their level of trust remained the same from the previous year, while 37 percent said their level of trust had decreased “a little” (24 percent) or “a lot” (13 percent).

RELATED: Have You Been Hacked?

In a 2014 survey of affluent investors, Spectrem’s Millionaire Corner found that 44 percent said the cyber-attacks had not changed their habits towards using credit or debit cards for shopping purposes. That was especially true of younger investors, with 62 percent of those under the age of 40 saying they had made no changes in their credit card habits.

Only 10 percent said they no longer shop at stores that have been hacked, and 2 percent said they shop exclusively with cash now.

The trust factor is different depending on what kind of business is involved, but no particular branch of the American economy is considered overwhelming trustworthy when it comes to keeping person information safe. Only 39 percent of Americans have “a lot of trust’’ in banks and credit card companies, and that segment was the one that received the most trust.

Health insurance companies got 26 percent approval, cellphone carriers got 19 percent, email providers were selected by 16 percent, while the state government and retail stores were both given a positive nod by 14 percent.

Only 12 percent said they had “a lot of trust’’ in the federal government, and only 6 percent of online retailers were given the nod.

 



About the Author


Kent McDill

kmcdill@spectrem.com

Kent McDill is a staff writer for Millionaire Corner. McDill spent 30 years as a sports writer, working for United Press International and the Daily Herald of Arlington Heights, Ill. From 1988-1999, he covered the Chicago Bulls for the Daily Herald, traveling with them every day through the nine-month season. He also covered the Bulls for UPI from 1985-88, and currently covers the team for www.nba.com. He has written two books on the Bulls, including the new title “100 Things Bulls Fans Should Know And Do Before They Die’, published by Triumph Books. In August 2013, his new book “100 Things Bears Fans Should Know And Do Before They Die” gets published.

In 2008, he resigned from the Herald and became a freelance writer. The Herald hired him to write business features and speeches for the Daily Herald Business Conferences and Awards presentations.

McDill also writes a monthly parenting column for the Herald’s Suburban Parent magazine.

McDill is the father of four children, and an active fan of soccer, Jimmy  Buffett and all things Disney.