Unchained Financial Advisors Control $5 Trillion in Investor Wealth. Are They Buying Bitcoin? - Ep.222
Mar 23, 2021
Ric Edelman, founder of Edelman Financial Engines, and Matthew Kolesky, president of Arbor Capital, dive into the rapidly evolving world of Bitcoin in the financial advisory space. They discuss the challenges advisors face when integrating digital assets, revealing that many are hesitant due to safety concerns. The guests share insights on investment vehicles like GBTC and the potential of a Bitcoin ETF. They also talk about effective methods for educating advisors about crypto and the ideal percentage of client portfolios that should include these assets, emphasizing the need for a balanced approach.
AI Snips
Chapters
Transcript
Episode notes
Ric Edelman's Crypto Journey
- Ric Edelman, a financial advisor for 36 years, learned about Bitcoin in 2012 at Singularity University.
- He started investing in 2014 as an experiment and realized advisors needed education on digital assets, leading him to create RIADAC.
Advisor Perceptions
- Financial advisors prioritize reputation and regulatory compliance, often dismissing Bitcoin due to past experiences with volatile assets.
- However, Bitcoin's underlying technology requires deeper examination beyond superficial comparisons to past fads.
Fiduciary Duty and Bitcoin
- Financial advisors should learn about Bitcoin and digital assets to fulfill their fiduciary duty.
- Don't dismiss Bitcoin without a valid reason beyond surface-level comparisons.