BTC India
It’s a question that is interesting for a few reasons.
1. Are people who believe and own bitcoin less likely to have a financial advisor?
2. If people who own bitcoin and also have a financial advisor, is bitcoin included in your financial advisor’s investment plan for your overall portfolio? or do they not know about your bitcoin?
Lastly, should the group who owns Bitcoin and has a financial advisor try to convince their advisor to offer Bitcoin to their full client base? This seems a valuable avenue to create adoption. Convince one financial advisor to offer Bitcoin, and you have created at least some new Bitcoiners from the financial advisors’ client base.
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View Reddit by impliedinsult – View Source
Most financial advisors are owned by the bankers.
Does Michael Saylor count?
I am a FA. Bitcoin is the elephant in the room that they do not want to look at or talk about. FA would never do that because it drives money out of their pocket.
I have a conversation around Bitcoin with all of my clients and their allocation remains up to their risk tolerance. Unfortunately, most average American retail investors remain to have their head in the sand about bitcoin. Especially the older generations. Their understanding of money is ingrained in them and will never change until something breaks!
The very few FA that understand Bitcoin, with bitcoin’s success our job becomes meaningless. Which would be the best thing for the global middle class!
FA are a scam….long term less than 1% can beat the market so why would I pay 2% plus commission on gains when a better return is an ETF that tracks the whole market?
I am a tier one financial guru and believe in Bitcoin.
I have one but I don’t follow everything they say. There are some gindy aspects to investing that a professional can do easier. Plus a second set of eyes on the portfolio is also helpful and if I die before my wife it will help her a lot.
As far as a percentage, who knows.
I don’t have a financial advisor and I see no value in financial advisors. ***Financial advisors are not legally obligated to have your best interests*** at heart when they invest your money, so why would I trust a financial advisor with investing my money?
The internet has made financial advisors inconsequential. It is the great equalizer. Any investment a financial advisor suggests can be found online with legwork/researched via google.
This isn’t the 80s, a lot of financial advisors still think the 60/40 portfolio is good advice. The world/financial paradigms are sifting. I think it’s best to take the time to manage your own finances instead of TRUSTING that someone is smarter than you. The whole point of Bitcoin is to not trust, verify. You can read up on portfolios, investments, and plays online/YT. Yes you need to do a lot more research/vetting, but it was the internet that told me about Bitcoin not a financial advisor. Imo financial advisors have 10 more years before they get replaced by AI.
Bitcoin is totally separate from the fiat system. Most of the trouble posts here are due to the mixing of the two, which cannot be done.
This is the profession of the financial advisor, to do the impossible on your dime.
It’s hard enough to beat inflation without having middle-men skimming off the top of earnings.
I used to work for a FA and really don’t know what value they add in today’s world – maybe back in the day when information wasn’t readily available and people didn’t have ready access to brokers etc…
I’m sure there are some out there that have an edge but probably only worth it if you have serious money that you can’t be arsed to deal with yourself.
Nope. I talked to one before who said to treat “Crypto” (when I specifically said Bitcoin) like cocaine. Only put so much money into it or you have a problem.
Last conversation I ever had with the guy. I’ll do as much damn cocaine as I want. Thanks.