To Top

Is It Okay To Get Financial Advice From Your Advisor On Crypto?

It is completely okay to consult your advisor or an industry professional before making any financial moves. If you ask us, it is rather mandatory. According to a report shared by Statista, 54% of Americans hire personal attorneys to look after their finances. Before they make any financial decision, they get the suggestion of their financial advisors. And that is absolutely fine!

Essentially, not everyone is good with finances. You may be good at making money or you might be a whiz at your workplace, but that does not mean that you should be a financial guru. It is a whole different ball game, and that is why it is necessary to hire a personal attorney who will help and guide you with your financial steps.

Kindel / Pexels / Given the complex nature of finances, hiring a personal attorney is always a great idea.

If you are considering hiring an attorney, you have our vote. But there is a catch: Hiring a personal advisor is pretty expensive. Personal attorneys do not work for free. Rather, they charge a decent amount of money. So, if you think you are in a position to pay the monthly salary of a personal advisor, why not? Opt for it. Simultaneously, you also need to be pristinely clear that you feel the need for a personal financial advisor.

Once you are clear on that, you may wonder about the exact job of the advisor. You may have questions like:

  • What does a financial advisor do exactly and precisely?
  • How can a personal attorney be handy for you or your business?
  • Do you really need a financial advisor?

Andrea / Pexels / your personal attorney can be handy for you in making sensible financial decisions.

The answer is simple: Your financial advisor will give you ‘professional’ advice on every single aspect of finances. Be it an investment, saving money, or any other form of finances. Everything you can imagine about money will be covered by your personal financial advisor.

Then comes the big question:

Can A Financial Advisor Give Advice on Crypto?

This is a tricky one. Cryptocurrency is pretty technical stuff. This means that not every mere financial advisor specializes in crypto. Does that mean that you should not get crypto advice from your advisor? No, not at all! You CAN get advice on crypto advice from your advisor.

Marta / Pexels / Every financial advisor is not qualified to advise on crypto.

But there is a catch: What is that, you ask? Well, prior to getting any advice, you must make sure that your advisor has the know-how of crypto. That is why it is important to know where your advisor stands.

Given the technicality of crypto, you can not trust every advisor. Instead, you should see if the advisor knows anything about crypto.

Once you are pristinely clear that your advisor specializes in crypto, you are good to ask him for advice. This way, you will not end up making any wrong decisions.

More inFinancial Advisor

You must be logged in to post a comment Login