It appears that traditional financial advisors - ”” - are becoming increasingly enthusiastic about digital assets, such as .
In a piece published on accounting firm EisnerAmper LLP’s website by New York-based financial advisor Dara Albright, a number of developments were highlighted to show how traditional finance is in the process of merging with digital assets.
“What about financial advisors and wealth managers,” Albright asked in the article while adding “are they ready to embrace digital assets and start recommending this novel asset class to their clientele?”
She went on to answer her own question:
“Based on the enthusiasm at last week’s National LINC 2020, TD Ameritrade's annual conference for financial advisors, I’d say that the answer is a resounding yes,” Albright said, listing key takeaways from the conference such as:
- “Bitcoin is the fifth-largest holding by millennials.”
- “The benefits of a 1% bitcoin allocation far outweigh having no bitcoin allocation at all.”
(More than 1,800 registered investment advisors reportedly participated in the conference.)
“Bitcoin is making saving and investing sexy again,” Albright quoted Sunayna Tuteja, Head of Digital Assets at major U.S. brokerage TD Ameritrade. (In January, regulated derivatives exchange ErisX, backed by TD Ameritrade, bitcoin futures for small investors).
Also, according to the advisor, , CEO of Morgan Creek Capital Management, reminded attendees of the event last week that “comfort is the enemy of profit, and that the greatest wealth is created when you believe in something before everyone else does.”
