As discount platforms, apps and algorithms continue to take over the traditional roles of brokers and stock pickers, financial advisors' role may shift to more digital asset eduction. Opinion by Interaxis8
Financial professionals seem to always evolve their value proposition.
I think the next wave of value for advisors to provide to their clients is in preparation for the financial future. We have seen inflation growth at near wartime rates. Interest rates had the fastest rise on record and caused banks to have negative equity,and the need for the FDIC and the Fed to promise deposit guarantees above the $250,000 FDIC standard.
How will individual and business financial models change with instant settlement, whether via crypto or a centralized service like FedNow?For years the people that discussed crypto were talking about financial and political occurrences that were more theoretical. However, in the past year, those theories have become realities – so maybe more people will start listening and taking crypto more seriously.
Advisors preparing themselves and their clients for the future will probably involve some advanced thought about the economy and capital markets – as well as an open mind. It will involve geographic and custodial diversification – holding my assets in multiple jurisdictions and technologies . The future financial plan will regularly include discussions of multiple income streams, as well as the possibility of living abroad for some time.
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