Rich Investors Want Crypto Advice, but Many Find Their Wealth Managers Too Cautious

Affluent investors in 7 major markets trust wealth managers most for crypto information, a CoinShares survey published October 5 shows. Yet roughly 4 in 10 respondents with an adviser in 4 markets call theirs overly cautious.

The report polled 2,230 investors in the US, UK, France, Germany, Italy, Sweden, and Switzerland. Each held at least $500,000 in investable assets outside real estate.

Firm Policy Keeps Advisers on the Sidelines

The new data lines up with an adviser-side picture CoinShares published in June. That earlier survey covered 261 wealth professionals in France, Germany, Italy, Switzerland, and the UK.

It found that 61% of advisers work at firms that restrict digital assets or lack clear internal guidance. Active recommendation ranged from 48% at supportive firms to just 1% at restrictive ones.

Meanwhile, 25% of advisers said more than half of their clients’ crypto holdings are beyond their view. Among UK advisers, that figure reached 52%, as BeInCrypto reported at the time.

The October report adds detail from the poll. Advisers cited volatility (56%) and crypto’s speculative character (52%) as the top reasons they believe clients hold back.

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Investors Admit Knowledge Gaps and Look for Expert Help

The investor survey paints a more committed picture. Depending on the market, between 54% and 70% of respondents already hold digital assets, according to the new report.

Across the 7 markets, 71% to 91% of current holders also plan to add exposure this year. However, 88% concede they lack the knowledge to invest with complete confidence.

Alongside that gap, 69% would consider working with a crypto-savvy wealth manager. Among current holders open to advice, 98% are prepared to pay for it. In the US and UK, wealth managers lead most other sources on trust by 25 to 30 points.

When the June survey came out, CoinShares CEO Jean-Marie Mognetti framed the adviser gap as a commercial risk for firms.

“Clients did not wait for permission. Every month a firm remains silent, more of its clients’ wealth migrates beyond its advice, its visibility and ultimately its economics,” Mognetti said.

In that poll, advisers said regulatory recognition (45%) and exchange-traded product access (43%) would most boost their confidence

In the 5 markets both surveys cover, investor demand now meets the policy barrier the June survey identified.

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