Wealthstack podcast: Rick Edelman on advisors’ ‘crypto knowledge gap’
Are investors leaving advisors behind in their understanding of cryptocurrencies and digital assets? Sixteen percent of advisors say they recommend bitcoin and other digital assets, yet 24% of American adults own cryptocurrencies. It is important for financial advisors to bridge this gap as the number of digital assets in the market continues to grow and the asset class continues to grow in popularity.
Mark Bruno, Managing Director of Wealth Management at Informa, joined Rick Edelman, founder, Digital Asset Council of Professionals and Funding Our Future Coalition, to discuss the development of cryptocurrency and the “professionalization” of digital assets.
Hear as Rick and Mark explore:
- How to educate financial advisors and broaden the knowledge base regarding digital assets.
- As innovation in digital assets continues, what does this mean for those adopting this technology by hedge funds, billionaires, endowments, pension funds, insurance companies.
- What is the government’s response to the rise of digital currency and how much truth is there in the prediction that by the end of the decade every government around the world will have a digital currency.
- To what extent does the lack of knowledge in digital assets result from a lack of technology, a lack of regulation or a lack of infrastructure?
- As these digital assets grow, the ideal allocation for your client’s portfolio.