Your Financial Advisor Speak Crypto?

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When it comes to digital assets such as cryptocurrencies and non-fungible tokens (NFTs), finding advisors with relevant credentials and knowledge can be challenging.

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Before engaging with a financial advisor, it’s worth drawing up a few open-ended questions that will help you get a feel of whether there will be a fit between yourself and the advisor.

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An advisor interested in the crypto space is one thing, but it could be a red flag if they’re unwilling to put their own money at risk.

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What crypto credentials have you earned?

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If you’re one of a few crypto clients with a seasoned financial advisor, many of the detailed, technical questions you have, are likely to have already been asked.

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Should I invest directly in cryptocurrencies or use investment vehicles like an ETF or IRA for exposure?

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What are the tax implications of holding cryptocurrency directly?

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Your Financial Advisor Speak Crypto?

When it comes to digital assets such as cryptocurrencies and non-fungible tokens (NFTs), finding advisors with relevant credentials and knowledge can be challenging.

Before engaging with a financial advisor, it’s worth drawing up a few open-ended questions that will help you get a feel of whether there will be a fit between yourself and the advisor.

An advisor interested in the crypto space is one thing, but it could be a red flag if they’re unwilling to put their own money at risk.

Do you have any cryptocurrency holdings in your portfolio?

What crypto credentials have you earned?

Two credentials to look for in an advisor are the Certified Digital Asset Advisor (CDAA) and Certificate in Blockchain and Digital Assets (CBDA).

If you’re one of a few crypto clients with a seasoned financial advisor, many of the detailed, technical questions you have, are likely to have already been asked.

Are you helping any other clients with their crypto investments?

Should I invest directly in cryptocurrencies or use investment vehicles like an ETF or IRA for exposure?

And a financial advisor who knows the ins and outs of cryptocurrencies can also help ensure you don’t fall victim to crypto scams.

What are the tax implications of holding cryptocurrency directly?

Working with a financial advisor has the advantage of providing you with the benefits and drawbacks of each investment option and how they will affect your taxes.

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