Financial advisors provide perspectives
about the role of digital assets in client portfolios
GREAT
FALLS, Va., March 19,
2024 /PRNewswire/ -- Nearly three in five (59%)
financial advisors say they recommend that clients allocate a
portion of their assets to crypto, according to a
December 2023 survey conducted by the
Digital Assets Council of Financial Professionals and
sponsored by Franklin Templeton Digital Assets.
"For more than a decade, financial advisors have largely been
omitting bitcoin and other digital assets from their
portfolio recommendations. That has now changed, and based on our
research, we expect independent RIAs to move $150 billion of client assets into spot
bitcoin ETFs over the next two years," said DACFP
Founder Ric Edelman, CBDA, author of
the #1 Amazon best-seller, The Truth About
Crypto. "It is essential that all advisors
increase their knowledge of this new asset class so they can
properly serve their clients."
Among advisors who recommend an allocation to
crypto, 7% have suggested it to all their clients and
another 29% have recommended it to at least half. Overall,
two-thirds of advisors who recommend crypto to clients
(67%) recommend allocations of 1% to 3% of assets.
"Driving awareness and education around this asset class is
critical for advisors and investors, and we're very pleased to have
worked alongside DACFP in furnishing this survey," said
Sandy Kaul, Head of Digital Asset
& Industry Advisory Services at Franklin Templeton. "We remain
in the early stages of adoption, and it's encouraging to see the
robust interest from advisors seeking to allocate to digital
assets."
Among advisors who have not been recommending
crypto, two in five (41%) expressed that they intend
to do so at some point in the future.
Survey respondents consisted of financial advisors from
independent RIA firms, regional and independent broker/dealers, and
major wirehouses. They primarily serve high-net-worth clients.
To learn more about the survey and its findings, please click
here.
About Franklin Templeton Digital Assets
Franklin
Templeton Digital Assets has been active in the digital asset
ecosystem since 2018, building blockchain-based technology
solutions, developing a range of investment strategies, and running
node validators. Franklin Templeton Digital Assets' dedicated
digital assets research team leverages fundamental "tokenomic"
analysis, insights from an imbedded data science team, and deep
industry connections to help inform product development and
investment decisions. For more information, please visit Franklin
Templeton Digital Assets and follow the team on Twitter.
Franklin Templeton Digital Assets is a part of Franklin
Resources, Inc. [NYSE: BEN], a global investment management
organization with subsidiaries operating as Franklin Templeton and
serving clients in over 150 countries. Through its specialist
investment managers, the company offers specialization on a global
scale, bringing extensive capabilities in fixed income, equity,
alternatives and multi-asset solutions. With more than 1,400
investment professionals, and offices in major financial markets
around the world, the California-based company has over 75 years of
investment experience and approximately $1.6
trillion in assets under management as of February 29, 2024. For more information, please
visit franklintempleton.com and follow us
on LinkedIn, Twitter and Facebook.
Contact for Franklin Templeton:
Travis Fishstein, 917-822-1857
travis.fishstein@franklintempleton.com
About DACFP
Founded by Ric
Edelman, the Digital Assets Council of Financial
Professionals is the leading provider of crypto
education. DACFP connects the financial services industry and
digital assets communities with leading experts via live and online
events, webinars, blogs and other educational content. Its flagship
program, the Certified in Blockchain and Digital
AssetsSM, is the first and largest certification program
of its kind—an online self-study program featuring a world-class
faculty and 18 Continuing Education credits. Thousands of financial
professionals from 37 countries have enrolled.
Contact for DACFP:
Sara
Steptoe, 810-772-4270
sara@dacfp.com
TN24-16
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SOURCE Digital Assets Council of Financial Professionals
(DACFP)