‘Be willing to hold on’
About half of current cryptocurrency investors have experienced “notable losses,” according to a recent survey of financial advisors with clients that hold crypto.
That might not lead to an uncomfortable conversation between the advisor and a client, because until recently, financial advisors haven’t generally recommended crypto investments such as bitcoin, ethereum, and the rest.
That’s changing.
This week, Bank of America announced that, in January, its Merrill and Private Bank clients will be encouraged to take at least a small bit of exposure — up to 4% at most — in crypto investments. This follows similar moves by most of the major investment firms, including JPMorgan, Morgan Stanley, Charles Schwab, and Fidelity. Even…
