There is massive potential for wealth managers to offer crypto investing, according to new research from Avaloq, a global leader in digital banking solutions and wealth management technology.
Avaloq’s survey found that 89 per cent of UK investors who either don’t own crypto or who currently invest via an exchange would seek to invest in crypto with their financial provider if they had the option to do so. Underscoring this opportunity gap for traditional financial institutions, 79 per cent of crypto investors buy and sell through an exchange, with less than a quarter (24 per cent) investing via their traditional bank or wealth manager.
The potential for wealth managers to leverage their expertise and inspire investor confidence is highlighted by Avaloq’s finding that 25 per cent of investors don’t invest in crypto due to a lack of trust in crypto exchanges. The most cited reason for not investing in crypto, identified by a third of respondents (33 per cent), is that investors are unsure about how to enter the crypto…
