A recent survey reveals that a majority of financial advisors are reluctant to recommend cryptocurrency investments to clients due to regulatory uncertainty and risk concerns. While some advisors utilize ETFs as a potential entry point, many advise caution and suggest limiting exposure to cryptocurrency to funds not critical for long-term financial goals.
Many financial advisors are reluctant to recommend crypto. A July survey found 59% of advisors don't use cryptocurrency nor planned to use it in the future.
To be sure, regulatory uncertainty remains a clear area of concern for financial advisors when it comes to recommending crypto investments to clients. Meanwhile, about 12% of advisors said they use cryptocurrencies based on clients' requests, according to the Cerulli report, and less than 3% of advisors said they use crypto based on their own recommendations.If investors are interested in crypto, CFP Ashton Lawrence at Mariner Wealth Advisors in Greenville, South Carolina, advises many clients to use exchange-traded funds.
Cryptocurrency Financial Advisors Risk Tolerance Etfs Regulations
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