“Companies like Tetra and the other companies presenting next week are essentially there to help Canadian wealth advisors and wealth professionals invest in digital assets,” he said. “We are providing the key pieces of the infrastructure to enable them to do that, and it’s important for them to be aware of these companies’ technology solutions, so they can help their clients with this journey because this asset class isn’t going anywhere. Yes, there’s volatility in it, and it’s a risk asset, but large financial institutions continue to commit to the asset class, irrespective of what’s happened to the price.”
Having safe storage for the assets is critical as the class continues to grow, especially since many have heard about people losing digital assets on old computers or by forgetting their passwords.
Read More: Cryptocurrency is speculation not an investment, advisors warned | Wealth Professional
Lavallee said that this year’s market shakedown of digital assets was predictable and has flushed out some of the bad actors, which makes the whole ecosystem stronger. So, advisors should consider allocating a small part of their clients’ portfolios in this asset class, particularly since Bitcoin has been a great performer. He suggested they follow what the big organizations and brands are doing as even JP Morgan is working with BlackRock.
“Digital assets are here now and will remain, so it’s important for wealth advisors to understand,” said Lavallee. “So, they can talk to their clients about how to get involved and what the best strategies are. There are a lot of exciting things happening.”
