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Majority of British Financial Advisors Discussed Crypto with Clients: Survey

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Thu, 10/28/2021 - 18:12
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Alex Dovbnya
A third of U.K. advisors don’t see any intrinsic value in cryptocurrencies
Majority of British Financial Advisors Discussed Crypto with Clients: Survey
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According to a poll published by Wisdom Tree, 72% of British financial advisors have had conversations with their clientele about digital currencies.

Forty-eight percent of them are also convinced that digital assets could be used for diversifying one’s portfolio.

Meanwhile, 17 percent of those U.K. advisors who took part in the survey view cryptocurrencies as a substitute for gold

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Yet, more than a third of the poll participants believe that digital assets do not have intrinsic value, which is why they refrain from recommending the new asset class to their clients.

The absence of regulatory clarity was singled out as another major hurdle that hinders the adoption of cryptocurrency assets.

In October, brokerage giant Interactive Brokers announced that registered financial advisors would be able to trade cryptocurrencies on behalf of their clients.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.