The popularity of cryptocurrency investing could fuel charitable giving, says Fidelity Charitable, which found that 45% of cryptocurrency investors donated $1,000 or more to charity in 2020, compared to 33% of all investors.
Cryptocurrency’s popularity among millennials “makes it increasingly likely that this trend is here to stay,” Fidelity said in a release. It found that 35% of millennials own crypto, versus just 13% of investors overall, and almost half (48%) of millennials see themselves as knowledgeable about digital currency, compared to just 13% of all investors.
What’s more, nearly nine-in-ten millennials say charitable giving is an important part of their lives, compared to 74% of the total population.
But the full financial implications of investing in cryptocurrency are not yet widely understood — even among those who have invested, Fidelity said, noting that 38% of cryptocurrency investors in a survey it conducted over the summer were not aware that selling digital assets is a taxable event and that 55% were not sure that digital assets can be donated to charity.
Chicago-based Mesirow Fiduciary Solutions adds flexPATH's plan-level outsourced fiduciary book, boosting its retirement market reach to $164 billion.
Also, Raymond James's employee advisor channel adds breakaways from Wells Fargo and Stifel, while UBS welcomes an ex-Morgan Stanley duo in Indiana.
It promised guaranteed principal and 10% monthly returns. The SEC says it invested nothing.
Ten years after entering the fee-based annuity market, MassMutual Ascend says nearly half its lifetime sales came in the past two years alone – but barriers remain among fee-only advisors.
Amplify, WealthReach, Zeplyn and Zocks have unveiled partnerships aimed at automating portfolio management, content creation, account opening, and client communication.
Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
