The number of financial advisors adding crypto assets to their clients’ portfolios has grown significantly

In relation to a survey, Financial advisors are recommending their clients to invest in Bitcoin and crypto assets more than ever.

A report by the Financial Planning Association published on June 1 analyzed the change in attitudes towards crypto assets. The Investing Trends Survey in 2021 has shown that more financial advisors than ever are recommending their clients to have cryptocurrencies in their portfolios.

The survey was conducted in March and received 529 responses online from professional financial advisers offer their clients investment advice and recommendations.

The number of financial advisors adding crypto assets to their clients’ portfolios has grown significantly
The number of financial advisors adding crypto assets to their clients’ portfolios has grown significantly

14% of financial advisors have already added or recommended crypto assets to their clients’ portfolios. More are planning for the coming year.

“More than a quarter (26%) of the consultants stated in the 2021 survey that they plan to increase their use / recommendation of cryptocurrencies in the next 12 months.”

The survey found that the number has increased significantly compared to the previous yearif less than 1% of advisors recommended exposure to cryptocurrencies.

Likewise, 49% of finance professionals said customers have asked them about investing in cryptocurrencies in the past six months, a number that almost tripled from just 17% in 2020.

48% of financial advisors said they occasionally read crypto news and feel comfortable talking about them, and a third of the consultants actively train on digital assets.

Customers seem less concerned about market volatility this year than they were last year, according to the survey. More than half (or 52%) of financial advisors said their clients asked about market volatility in the past six months, compared to 76% last year.

Investors could pull in crypto assets as a hedge against inflation, which was tightened during the pandemic and current stimulus packages.. US inflation is hovering at 13-year highs.

In early May, Cointelegraph reported that Financial advisors have led an institutional push to adopt crypto assets.

Grayscale CEO Michael Sonnenshein told Cointelegraph that “Curiosity and customer demand drive financial advisors’ interest in cryptocurrenciesHis observations come from a survey commissioned by the investment firm that shows that More than half of the consultants receive questions about cryptocurrencies from their customers.

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