Financial Advisors - clients asking about crypto?
for all the financial advisors out there - curious as to how many clients have been asking about crypto investing the past few months / how these conversations go? any companies offering advisors ways to get clients crypto exposure?
Haven’t heard
We've had an increasing number ask about crypto currencies - this is at the institutional level - in varying ways. I'd generally lump it like this, keeping in mind that in most cases the client base I'm talking about is almost never going to actually take a position (and in most cases, can't due to investment policies or just practical investment sense for the types of funds):
- Most of it is curiosity as they have heard about bitcoin (or even Ethereum now as it's on the news) and simply want to understand what it is and whether it matters or not. This often leads to a conversation about the amount of risk or frothiness in the markets, is this a sign of the top, etc.
- Less will ask about it as an allocation within a portfolio... and this is again limited more to 'will this be considered' or 'is it even a viable option within an allocation' or 'how do you even think about using this alongside other asset classes'. With variations from there.
- One or two might ask something more around blockchain and investment implications - what does the future hold, is it here to stay, long term implications of decentralization, etc. etc.
Anyway - I'd guess, with no real conviction - that it's much the same on the retail side or private wealth side, probably with more realistic questions about 'should I buy this' or 'why the heck don't I have any' - but hopefully someone else can chime in.
Been having a few calls regarding crypto come my teams way. Unfortunately its not something we've been able to offer with our firm so we typically direct them to some platforms they can use on their own (Robinhood, coinbase, etc.) Not ideal but until firms start to be more adaptive, its all we can do really.
Nice. Good for you guys
Perspiciatis reiciendis autem cupiditate dolores iure ipsam excepturi. Quas quisquam praesentium quos consequatur laudantium officia et.
Numquam necessitatibus ut officiis laudantium sequi. Unde aperiam consequatur similique iusto voluptatem unde et.
Quae aspernatur officiis animi aut voluptatem nihil ipsa. Dolorem sit sint maiores explicabo non dolor aut.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...