26% Plan to Recommend Cryptocurrencies Over Next 12 Months – Bitcoin News

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A recent survey of financial advisors and their investment strategies shows a “significant shift toward the expansion of cryptocurrencies.” More than 26% indicated that they plan to increase their recommendation on cryptocurrencies over the next 12 months. In addition, 49% of advisors said clients have asked them about investing in cryptocurrencies in the last six months.

Financial Advisors show Significant Change to Surrounding Cryptocurrencies

The 2021 Investment Trends Survey, conducted by the Journal of Financial Planning and the Association of Financial Planning (FPA), and supported by Onramp Invest, was published earlier this month.

The Financial Planning Association is the leading membership organization for certified financial planners, professionals, educators, and financial services professionals. Onramp Invest is a technology company providing access to crypto assets for registered investment advisors.

The survey received 529 responses from financial advisors from various backgrounds and business models. It found:

Advisors are showing a significant shift towards the expansion of cryptocurrencies.

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Cryptocurrencies were first added to the survey in 2018 when 1.4% of advisors indicated that they currently use or recommend them to clients. That percentage fell below 1% in 2019 and 2020 but increased to 14% in 2021.

According to the survey results:

More than a quarter (26%) of advisors indicated in the 2021 survey that they plan to increase their use / recommendation of cryptocurrencies over the next 12 months. And 49% of advisors indicated that in the last six months customers have asked them about investing in cryptocurrencies, up from 17% in 2020.

Tyrone Ross, CEO of Onramp Invest, commented: “From these results it is clear that we have reached a turning point in the wealth management space. Advisors now face a clientele that requires knowledge, access and advice from their cryptocurrency advisor.”

What do you think of this survey? Let us know in the comments section below.

Image Credits: Shutterstock, Pixabay, Wiki Commons

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