Investors most frequently ranked cryptocurrency as the least important of 16 possible features in a retirement plan, according to a survey by Morningstar.
“While advisers might find it worthwhile to gauge clients' interest in cryptocurrency, particularly Millennial and Gen Z clients — who were approximately five times as likely to prefer cryptocurrency in their retirement plan as Baby Boomers — it shouldn't be a primary factor in decision-making," Morningstar said in a commentary about the survey results. “People still tend to desire traditionally attractive features such as good employer matches and the availability of professional advice.”
Among the 16 plan features that investors ranked were quarterly performance statements, availability of professional advice, the number of investment alternatives, a mobile app and auto-escalation.
Although younger investors appear to find cryptocurrency more appealing than older investors, Morningstar said even younger investors generally remain hesitant about adding it to their retirement portfolios.
“They may be five times as likely to be interested in cryptocurrency, but that still adds up to less than 5% of the broader population of younger investors,” Morningstar said.
RIAs need to find universities that offer financial planning programs and sponsor or host events, advisor suggests.
The leading wealth tech provider is helping more advisors access active ETF models through its exclusive partnership.
Case of once-wealthy family highlights risks, raises questions on firms' duties to sophisticated investors suffering cognitive decline.
“The evidence in this case was overwhelming,” says an attorney.
The move marks the culmination of a decade-long journey for the new leader at the Ohio-based RIA and Natixis affiliate firm.
Uncover the key initiatives behind Destiny Wealth Partners’ success and how it became one of the fastest growing fee-only RIAs.
Key insights from Gabriel Garcia on adapting to demographic shifts and enhancing client experience in a changing market
