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DACFP and Franklin Templeton Digital Assets Advisor Pulse Survey Finds 70% Change in Number of Financial Advisors Planning to Recommend Cryptocurrencies in the Next Six Months
Franklin Templeton Launches Online Digital Asset Training Course for Financial Professionals in Partnership with DACFP
GREAT FALLS, Va. , May 13, 2024 /PRNewswire/ — More than a third (35%) of financial advisors surveyed say they plan to recommend digital assets to their clients within the next six months, according to a March 2024 survey conducted by the Digital Assets Council of Financial Professionals (DACFP) and sponsored by Franklin Templeton Digital Assets. This represents a 70% change from more than a fifth (21%) of financial advisors who, surveyed in December 2023, said they would recommend cryptocurrencies within six months.
“The availability of new bitcoin spot ETFs, combined with a roughly 50% increase in the price of bitcoin this year, is driving advisors to engage with cryptocurrencies more than ever,” said DACFP founder Ric Edelman, CBDA, author of Amazon’s #1 best-seller, The Truth About Cryptocurrencies. “Advisors are racing to gain the knowledge they need to properly serve their clients.”
Among advisors who recommend an allocation to cryptocurrencies, nearly nine in 10 (87%) advise clients to allocate between 1% and 5% of their assets. The most recommended allocation is 2%, indicated by three out of 10 respondents (31%). Advisors are also recommending clients make larger allocations to cryptocurrencies following the launch of spot bitcoin ETFs, with 85% of advisors suggesting allocations above 1% in March 2024 compared to just 74% in December 2023.
“Advisers are increasingly expressing interest in allocating to digital assets as a means to better diversify their clients’ portfolios and capture the investment opportunities presented by the growing protocol-based network economy,” said Sandy Kaul, Head of Advisory Services for digital assets and industry at Franklin Templeton. “As advisors and their clients advance on their respective digital asset journeys, it is important that they choose a partner who can conduct research, development and training across the entire digital asset ecosystem.”
Educational resources
Franklin Templeton Digital Assets recently partnered with DACFP to launch a new online platform Discovering digital assets: Blockchain, Bitcoin and beyond course, which provides financial professionals with practical, actionable advice to effectively incorporate digital assets into their businesses. The 60-minute course consists of videos covering various topics including blockchain, bitcoin, Ethereum, tokenization, non-fungible tokens (NFTs), decentralized finance (DeFi), staking, lending, and cryptocurrency investing. Content is eligible for CE credit for CFP®, CIMA®, RMA®, and CPWA® designations.
Additionally, the DACFP reports a sharp increase in the number of advisors signing up to its online service Certified in Blockchain and Digital Assets program (CBDA). The program is available online DACFP Educational Center which hosts CE courses and content designed to educate financial professionals about blockchain and digital assets. Program participants are eligible to receive the CBDA designation upon completion.
Methodology
272 financial advisors participated in the March 2024 iteration of the survey. Of these, 71% are financial advisors at independent RIA firms, and the remainder work for regional or independent brokerage firms (19%), wirehouses (2%), or other types of companies in the financial services industry, such as trust companies and corporations. family run. offices (8%). This segmentation follows the file very closely December 2023 survey released early 2024.
To learn more about the survey and its results, click Here.
About Franklin Templeton’s digital assets
Franklin Templeton Digital Assets has been active in the digital asset ecosystem since 2018, building blockchain-based technology solutions, developing a range of investment strategies and running node validators. Franklin Templeton Digital Assets’ dedicated digital asset research team leverages fundamental “tokenomics” analysis, insights from an integrated data science team, and deep industry connections to help inform product development and investment decisions . For more information, visit Franklin Templeton Digital Assets and follow the team on Twitter.
Franklin Templeton Digital Assets is part of Franklin Resources, Inc., a global investment management organization with subsidiaries doing business as Franklin Templeton and serving clients in more than 150 countries. Through its specialist investment managers, the company offers specialization on a global scale, bringing broad capabilities across fixed income, equity, alternatives and multi-asset solutions. With more than 1,500 investment professionals and offices in major financial markets around the world, the California-based firm has more than 75 years of investment experience and more than $1.6 trillion in assets under management as of March 31, 2024. For more information, visit franklintempleton.com and follow us on LinkedIn, Twitter and Facebook.
About the DACFP
Founded by Ric Edelman, the Digital Assets Council of Financial Professionals is the leading provider of cryptography education. DACFP connects the financial services industry and digital asset communities with leading experts through live and online events, webinars, blogs and other educational content. Its flagship program, Certified in Blockchain and Digital AssetsSM, is the first and largest certification program of its kind: an online self-study program with world-class faculty and 18 continuing education credits. Thousands of financial professionals from 37 countries signed up.
SOURCE Financial Professionals Council for Digital Assets