Wealthy increase cryptocurrency exposure
More than two-thirds of high-net-worth individuals will be invested in cryptocurrencies in the next three years, according to a new global poll.
The deVere Group survey showed that 68 per cent of poll participants had already been invested or would invest in cryptocurrencies such as Bitcoin, Ethereum and XRP, by 2022.
The over 700 respondents are clients who resided in the US, UK, Australia, the UAE, Japan, Qatar, Switzerland, Mexico, Hong Kong, Spain, France, Germany and South Africa.
Nigel Green, founder and CEO of deVere Group, said there is universal acceptance that cryptocurrencies would be the future of money.
“High net worth individuals are not prepared to miss out on this and are rebalancing their investment portfolios towards these digital assets,” Green said.
“Crypto is to money what Amazon was to retail. Those surveyed clearly will not want to be the last one on the boat.”
AUTHOR
Chris Dastoor
Recommended for you
Quarterly Wealth Data analysis has uncovered positive improvements in financial adviser numbers compared with losses in the prior corresponding period.
Holding portfolios that are too complex or personalised can be a detractor for acquirers of financial advice firms as they require too much effort to maintain post-acquisition.
As the financial advice profession continues to wait on further DBFO legislation, industry commentators have encouraged advisers to act now in driving practice efficiency.
New Zealand’s financial regulator is following the footsteps of its Tasman neighbours and proposing to conduct a review on improving the accessibility of financial advice and advice business models.
