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FPA survey: Financial advisors to increase crypto exposure for clients as demand rises

FPA survey: Financial advisors to increase crypto exposure for clients as demand rises

More financial planners explore options in the cryptocurrency space over the ensuing months as more clients express interest, according to an annual investing survey published by the Financial Planning Association (FPA).

Over a quarter of financial advisors (26%) who had taken part in the review reported their intention to increase the number of recommendations of cryptocurrencies in client portfolios in the subsequent year. This figure is up 14% in the last year.

The queries from clients ranged from investing in cryptocurrencies to seeking knowledge, access, and advice about them from their financial advisors. The demands from the clientele illustrate the growing interest in the market for cryptocurrency.

Advisors face queries 

“It is clear from these results that we’ve reached an inflection point in the wealth management space. Advisers are now faced with a client base that demands knowledge, access, and advice from their advisers on crypto assets,” said Tyrone Ross, CEO of Onramp Invest.

More clients have expressed interest in cryptocurrencies; reports the FPA with the number of clientele inquiring about investing in cryptos increased 17% in the last year alone based on the results indicated by 49% of advisors.

FPA survey data.

The increasing demand is substantiated by 15% of the 529 consultants surveyed recommending cryptos to their clients compared with just 1% a year ago.

It seems consultants’ recommendations in digital assets may be trending upward for the foreseeable future despite a growing number of customers probing how having cryptocurrencies would affect the tax changes on their portfolios.

Investments to increase in the next 12 months

When prompted about what investment vehicles the financial planners use or recommend to clients, in addition to those they expect to increase and decrease in the next 12 months, the investments they expected to grow the most in the next calendar year were Exchange-Traded Funds (ETFs), cryptocurrencies, and ESG funds.

Whereas individual bonds, mutual funds, and individual stocks were at the other end of the spectrum for investments, perhaps suggesting a decrease over time and a shift in market trends as exposure to crypto is ever-growing amongst demanding clients. The market thus may be ready to embrace digital assets and cryptocurrencies despite initial caution.


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