In a survey carried out recently by Opinium, it was revealed that the participants who were British based financial consultants will not affirm a crypto oriented business for their customers. Over 90% of the 200 Independent Financial Advisers(IFA) in the U.K who made up the survey population have an antipathetic attitude to cryptocurrencies though over one third of them agreed that there had been a rise in cryptocurrency connected queries from their clientele since 2021.
Reuters Wednesday report which was based on data from the study stated that 93% of IFAs will not advise their patrons to invest in crypto assets. In like manner, meme stocks evoked the same unenthusiastic response. The survey results also revealed that 95% of the IFA respondents would not encourage their customers to acquire meme stock as an investment asset. Data from the study also indicated that 90% to 95% of the survey participants said that their clients with portfolio ranging from $140,000 to $280,000 and higher would turn on their worry button if those same clients opted for crypto related enterprise.
The Opnium head of research in an interactive session with IFA Magazine reiterated that the financial consultants’ aversion to crypto stressed the precariousness of the crypto industry. He however noted that crypto investment were becoming conventional and declared that it would be fascinating to watch how advisers will handle the situation in time to come. The aforementioned survey has however re-echoed the heart cries of other financial authorities in the country.
Cryptocurrencies have continued to gain acceptance in the country with a recent study revealing that there were more investments in electronic money than stocks last year. Even though a greater percentage of the financial advisers were crypto aversive, over one third of them concurred that crypto could be a legal asset in time to come. 24% of them forecasted the same future for meme stocks.
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