, Columnist
Crypto Fever Could Put Financial Advisers in a Bind
Clients can be counted on to exert pressure to include digital currencies in their portfolios but then look to place blame for any losses.
Will the cryptocurrency craze just be a rehash of the dot-com era?
Photographer: Tiffany Hagler-Geard/Bloomberg
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For financial advisers, cryptocurrencies just might be internet 2.0.
Many advisers I know who were active during the dot-com mania in the 1990s have described the experience this way: “Clients wanted internet stocks and tech IPOs. If I gave them what they wanted, they could lose money. If I didn’t, I could lose a client.”