AICPA Personal Financial Planning (PFP) Why you need to take Bitcoin seriously - part 3 {PFP Section}
If you believe it is a good idea to hold even a small amount of Bitcoin, the next step is to educate your clients and decide on the strategy that will have the best chance for success. In this episode of the PFP Section podcast, David Oransky, CPA/PFS, shares how he approaches this with his clients. Mark Astrinos, CPA/PFS, poses the following questions to David:
- How to you respond to criticism of Bitcoin from other advisors?
- What is your approach with clients to include Bitcoin in their portfolio?
- How do you explain that Bitcoin is money versus a traditional investment that produces cashflow?
- Why are retirees most at risk if Bitcoin is successful long term (and they haven’t allocated a portion of their portfolio to Bitcoin)?
- How do you assuage fears given the volatility of Bitcoin?
- Should advisors be worried about compliance regulation or lack thereof?
- Where can listeners go to learn more?
For more resources related to this episode:
- Tune in to the first episode and second episode in this series.
- Listen to David’s in-depth webcast on Bitcoin and access the related slides.
- Check out the various books to learn more that David mentions at the end of this episode.
This episode is brought to you by the AICPA’s Personal Financial Planning Section, the premier provider of information, tools, advocacy, and guidance for professionals who specialize in providing tax, estate, retirement, risk management and investment planning advice. Also, by the CPA/PFS credential program, which allows CPAs to demonstrate competence and confidence in providing these services to their clients. Visit us online to join our community, gain access to valuable member-only benefits or learn about our PFP certificate program.
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