According to research by Deloitte, the number of advisers who have added cryptocurrencies to their portfolios has increased by more than 30% in the past year. Deloitte also reported that half of these advisers have increased their client exposure to cryptocurrencies and initial coin offerings, while just a quarter have talked to their clients about investment risks such as volatility and price fluctuations.
The ever-increasing popularity of Bitcoin and other cryptocurrencies has seen a big rise in financial advisers adding crypto assets to clients portfolios- the number of advisers who currently have crypto assets in their portfolios has now hit a new all time high.
Over the past year, the number of registered investment advisers (RIAs) advising clients on crypto assets has increased by 33%, according to new data from the National Association of Personal Financial Advisors (NAPFA). This is a big change from just last year when only 7% of RIAs said they had taken on crypto clients.. Read more about future of cryptocurrency 2021 and let us know what you think.Financial advisors are recommending investments in bitcoin and crypto assets to their clients more often than ever, the survey shows. A Financial Planning Association report published on June 1. examines changing attitudes toward crypto assets. The 2021 Investment Trends Survey shows that more financial advisors than ever are recommending that their clients have cryptocurrencies in their portfolios. The survey was conducted in March and received 529 online responses from professional financial advisors who provide investment advice and guidance to their clients. According to the report, 14% of financial advisors have already included or recommended crypto assets in their clients’ portfolios. Others plan to do so in the coming year. More than a quarter (26%) of advisors in the 2021 survey said they plan to expand their use/recommendation of cryptocurrencies in the next 12 months. According to the study, this is a significant increase from the previous year, when less than 1% of advisors recommended the use of cryptocurrencies. In addition, 49% of financial professionals said their clients had asked them about investing in cryptocurrencies in the past six months – a figure that has nearly tripled from 17% in 2020. Just under half, 48%, of financial advisors said they occasionally read news about cryptocurrencies and feel somewhat comfortable talking about them, while a third of advisors actively engage in self-education about digital assets. According to the survey, clients seem less concerned about market volatility this year than last. More than half, 52%, of financial advisors said their clients were interested in market volatility over the past six months, compared with 76% a year earlier. Investors may be attracted to crypto assets as a hedge against inflation, which has tightened during the pandemic and ongoing stimulus packages. Inflation in the United States remains at its highest level in 13 years. In early May, Cointelegraph reported that financial advisors were leading the institutional push to launch crypto assets. Grayscale CEO Michael Sonnenschein told Cointelegraph that curiosity and customer demand are fueling financial advisors’ interest in cryptocurrencies. His comments are based on a survey commissioned by an investment firm that found that more than half of advisors receive questions about cryptocurrencies from their clients.Over the past year, the number of companies offering products, services and advice relating to cryptocurrencies has grown rapidly. Some brokerages have added an entirely new client category in the form of cryptocurrency traders. And then there are those advisors and financial planners who are offering their clients access to crypto assets as a way to grow their portfolios.. Read more about when to buy bitcoin 2021 and let us know what you think.
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