93 per cent of unbiased monetary advisers (IFAs) would by no means think about recommending crypto currencies to their shoppers, even if a 3rd of advisers have seen a rise in crypto enquiries this 12 months.
An extra 95 per cent of IFAs mentioned that they’d by no means suggest meme shares, whereas 91 per cent mentioned that they’d be involved if a shopper mentioned they have been already investing in both crypto currencies or meme shares.
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In line with a brand new survey from Opinium, the responses have been the identical throughout IFAs who advise shoppers of all portfolio sizes, though advisers have been extra more likely to be apprehensive about these shoppers with a bigger funding portfolio.
84 per cent of IFAs with shoppers with portfolios beneath £100,000 can be involved if a shopper was investing in cryptocurrencies, in contrast with 90 per cent of those that had shoppers with portfolios between £101,000 to £200,000, and 95 per cent with shopper portfolios value greater than £200,000.
“With the latest crypto and meme inventory frenzy, it’s no shock that advisers are seeing an growing curiosity in these automobiles from traders,” mentioned Alexa Nightingale, analysis director at Opinium.
“There may be clearly uncertainty and concern within the trade, and advisors with shoppers of all sizes can be cautious if their shoppers have been investing in these merchandise. Nonetheless, these kinds of investments are changing into extra mainstream, so it will likely be attention-grabbing to see how advisers navigate this in future.”
33 per cent of IFAs mentioned that they imagine cryptocurrencies will grow to be a official funding automobile sooner or later, with 24 per cent considering the identical about meme shares.
Learn extra: Engaging with IFAs