People are paying management fees to be outperformed by Bitcoin
The bullshit jobs are going away
Our latest clip discusses why financial advisors are still ignoring Bitcoin 👇
Discussion
As a financial advisor and CFP I can tell you that not all of us are ignoring it.
At the same time it is very difficult to navigate the ability to get people on board with the thesis of Bitcoin. Everyone experiences this with family and friends.
Aside from that, regulations just kill our industry, but that is shifting and will hopefully get better after this week with congress laying it out.
Unfortunately our financial system is like when Copernicus proposed that the earth revolves around the Sun. People who are trained by the system in the system cannot see outside of the system. That’s how all major changes take place.
Great comment here thanks for sharing that.
Yes it's definitely not ALL, but most.
I work alongside a few and they are very welcome to it and even encourage their clients to take a small amount into self-custody.
It will all change I'm sure but it'll likely be too late for most advisors by then.
Just my opinion here but it doesn't seem like the younger generation will ever have a financial advisor or even a traditional bank account.
That might be true for some, but surprisingly 18-30 year olds have been very willing to pay for financial advice and work with me.
I’ve seen quite a few advisors specializing in that.
It is even worse than lack of interest. They'll discourage you if they find out you're interested in Bitcoin. I was talking to a financial adviser at my bank about setting up retirement savings account, and just asked if ETFs were available in those, like Bitcoin ones. He said, yeah, but he'd stay away from those, as while Bitcoin looks good, it is just a bubble. You want to get into something solid.
Hahaha classic.
We call those people Zero Hour Dipshits
