The financial services sector is still profoundly unloved, with consumers saving their affection for brands in the technology, fast food and food retail sectors.

That’s the headline finding from the inaugural BrandLove Index, a study by branding agency Uffindell and Morar Consulting, which surveyed 2,000 members of the public about their relationships with brands to determine their degree of passion, intimacy and commitment – the three components of love that have been empirically shown to predict the stability of a relationship.

The first BrandLove Index concentrated on brands in the financial services (FS) sector. Of the 53 brands featured, 29 were FS brands with the remainder selected from other sectors to serve as a benchmark.

Among FS companies, retail banks rank surprisingly well. For all the talk of the banking crisis, First Direct, Nationwide, NatWest, Lloyds TSB and HSBC all made the Top 10 of the FS Index and each displayed high intimacy scores, showing that consumers regard them as an essential part of their everyday lives.

But insurance and pensions giants are unloved. Brands such as Legal & General, Admiral, AXA, Standard Life, Aviva and Scottish Widows, sit at the bottom of the index, suggesting the insurance industry has its work cut out if it’s to build meaningful customer relationships. The FS brands we love least are Go Compare, Legal & General and Admiral.

The top three performing brands out of the 53 in the index were Apple, Starbucks and Marks & Spencer. The highest ranked FS brand, First Direct, appeared 12th in the BrandLove overall index. The worst performing overall brand was BP.

The research shows customers that love their brands are more likely to be loyal and also be good brand advocates. It also reveals that brands with high advertising expenditure don’t necessarily achieve brand love.

The best and worst loved FS brands:

1. First Direct

2. PayPal

3. Nationwide

4. NatWest

5. Tesco

25. Barclaycard

26. XA

27. Admiral

28. Legal & General

29. Go Compare