Vast Majority of Financial Advisors Received Questions About Crypto in 2021: Report
A new report details an increase in the rate at which financial advisors receive questions about crypto assets from their clients.
According to research conducted by crypto index fund provider Bitwise, the overwhelming majority of financial advisors were asked at least one question about digital assets last year by their clients.
“During , 94% of advisors received a question about crypto from clients, up from 81% in 2020 and 76% in 2019. The number reinforces a key takeaway: every advisor needs to be armed to answer client questions about crypto.”
The survey, which questioned 619 professional financial advisors from across the United States, reveals that growing interest in crypto assets is not isolated and is coming from multiple parties.
The data reveals that 40% of advisors reported that at least 10% of their clients asked questions about cryptocurrencies last year, which is more than double the rate of 2020 when only 18% of advisors reported the same number.
Bitwise’s research also found that more clients than ever before are taking the plunge and making crypto investments on their own without seeking any guidance from their financial advisors.
“Greater numbers of clients [have] made crypto investments on their own. According to respondents, at least two-thirds of clients (67%) were investing in crypto on their own going into 2022, compared to just 36% and 35% in the previous two years’ surveys”
You can read the full report from Bitwise here.