Wealthy folks develop into cryptocurrency followers, need higher recommendation: survey


ZURICH (Reuters) – Solely round half of millionaires are in tune with their wealth managers and the very wealthy are more and more eager about crytocurrency investments, a survey launched on Tuesday discovered.

FILE PHOTO: A cryptocurrency mining laptop is seen in entrance of bitcoin emblem in the course of the annual Computex laptop exhibition in Taipei, Taiwan, June 5, 2018. REUTERS/Tyrone Siu/File Picture

Excessive internet value people (HNWIs)- outlined within the Capgemini ballot as having not less than $1 million to take a position excluding their essential houses and issues reminiscent of artwork collections and vehicles — noticed funding returns above 20 % in 2017 for the second yr in a row.

That helped take their collective wealth above $70 trillion for the primary time and put them on observe to have amassed $100 trillion by 2025, the Capgemini World Wealth Report 2018 discovered.

But it surely didn’t enhance their satisfaction with the folks managing their fortunes.

Solely round 56 % of millionaires say they’re linked “very properly” with their wealth managers, in need of the 70 % stage the French enterprise consulting group calls a passing grade.

Wealthy folks’s enthusiasm for digital currencies swelled final yr, with 29 % of millionaires expressing a excessive diploma of curiosity in shopping for or holding cryptocurrencies and practically 27 % considerably , the survey discovered.

Nonetheless, solely round a 3rd mentioned they’d bought details about cryptocurrencies from their wealth managers.

“Though regulatory uncertainty and agency warning have prevented cryptocurrencies from penetrating the wealth administration business, the robust demand for data on cryptocurrencies from youthful HNWIs is more likely to drive wealth administration corporations to not less than develop and provide a standpoint in the course of the months forward,” it mentioned.

Reporting by Michael Shields; Enhancing by Alison Williams


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