Big rise in financial advisers adding crypto assets to client portfolios

According to a survey, financial advisers are recommending investments in Bitcoin and crypto assets to their purchasers greater than ever earlier than.

A report by the Financial Planning Association launched on June 1 has taken a have a look at the altering attitudes in direction of crypto assets. The ‘2021 Trends in Investing Survey’ revealed that extra financial advisers than ever are recommending their purchasers have some crypto in their portfolios.

The survey was performed in March and obtained 529 on-line responses from skilled financial advisers who provide purchasers funding recommendation and suggestions.

It said that 14% of financial advisers have already added crypto assets to their purchasers’ portfolios or are recommending it to them. Even extra are planning to achieve this over the following yr.

“More than a quarter (26 percent) of advisers indicated in the 2021 survey that they plan to increase their use/recommendation of cryptocurrencies over the next 12 months.”

The survey revealed that the determine is up considerably from the earlier yr when lower than 1% of advisers have been recommending publicity to cryptocurrencies.

Furthermore, 49% of finance professionals indicated that, in the final six months, purchasers have requested them about investing in cryptocurrencies, a determine that has virtually trebled from simply 17% in 2020.

Just beneath half, or 48% of financial advisers, claimed to learn occasional news tales on cryptocurrencies and are considerably comfy conversing about them, with a 3rd of advisers actively educating themselves on digital assets.

Clients seem to be much less involved with market volatility this yr in contrast to final, the survey discovered. More than half, or 52%, of financial advisers, said that their purchasers inquired about market volatility over the previous six months, in contrast to 76% for the earlier yr.

Investors could also be drawn to crypto assets as a hedge against inflation which has been exacerbated in the course of the pandemic and ongoing fiscal stimulus packages. Inflation in the U.S. is hovering round a 13 yr excessive.

In early May, Cointelegraph reported that financial advisers have been leading an institutional push toward crypto asset adoption.

Grayscale CEO Michael Sonnenshein informed Cointelegraph that, “Curiosity and demand from clients are driving financial adviser interest in crypto.
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” His observations have been derived from a survey commissioned by the funding agency exhibiting that greater than half of advisers are receiving questions from their purchasers about cryptocurrencies.

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