Insights | 06.02.21
More Advisors Are Planning to Use Crypto: FPA
According to a survey from the Journal of Financial Planning, 26 percent of advisors plan to increase their use of recommendation of cryptocurrencies over the next 12 months. That is an increase from last year when zero survey respondents said they would consider their use of recommendation of crypto assets. The survey found that client demand for crypto assets is driving this trend. Forty-nine percent said clients asked them about investing in cryptocurrencies over the past six months. Despite this increase in popularity, some advisors believe crypto investments are risky. In fact, 28 percent of advisors say they are a "gamble." That is up from 24 percent who held that view in 2018. On the topic of crypto education, 48 percent of respondents said they read news articles on crypto investments and are somewhat comfortable discussing the topic. Only 33 percent actively educate themselves on the topic and are comfortable discussing it.
Read the full article on InvestmentNews.