Cryptocurrencies
Crypto Demand From Millennials Poses Big Test for Robo-Advisers
- Surging consumer demand collides with fiduciary duty
- Crypto-only robo startups look to gain early mover edge
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Superficially, it should be a perfect match. Interest in cryptocurrencies has surged among the young and tech literate, exactly the same demographic targeted by the big robo-advisers.
Yet even as the finance sector starts to embrace crypto, you won’t find Bitcoin or Ether in model advice portfolios. The dilemma for the industry is that registered investment adviser status is the foundation of its hard-won mainstream acceptance and conveys a legal duty to act in a client’s best interests.