Lesser-Experienced FAs More Willing To Recommend Crypto: Survey
Lesser-experienced financial advisors feel more confident about their knowledge of crypto assets and are more likely than their more experienced counterparts to recommend them to clients, according to a recent report from the Certified Financial Analyst Institute. Overall, just 7% of the financial advice firms surveyed allow solicited sales of crypto products, and just 12% allow unsolicited sales. Despite firms' reluctance to venture into crypto, 46% of respondents said they have seen a small increase in investor interest in crypto, while 10% have seen a significant increase, according to the survey. When asked if they would recommend crypto, as long as the “purchase would be in the client’s best interest,” 38% of advisors with less than five years of experience said they would, compared to 14% of advisors overall.
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