Survey: Essentially no IFA would recommend cryptocurrencies or meme stocks

A survey taken by Opinium finds effectively no IFA will recommend cryptocurrency or meme stocks to their clients. 93% of IFAs wouldn’t recommend cryptocurrencies and 95% wouldn’t recommend meme stocks, and 91% of IFAs would be concerned if a client was investing in crypto or meme stocks. 

The research, conducted among 200 UK IFAs, finds a third (34%) of IFAs have seen an increase in clients asking about cryptocurrencies this year, while 14% have had more requests about meme stocks compared to last year.

Alexa Nightingale, research director at Opinium commented, “There is clearly uncertainty and concern in the industry, and advisors with clients of all sizes would be wary if their clients were investing in these products. However, these sorts of investments are becoming more mainstream, so it will be interesting to see how advisers navigate this in future.”

Adviser concerns are mirrored across those who advise clients of all portfolio sizes:

  • 84% of IFAs with clients with portfolios under £100,000 would be concerned if a client was investing in cryptocurrencies
  • 90% of IFAs with clients with portfolios between £101,000 to £200,000 would be concerned if a client was investing in cryptocurrencies
  • 95% of IFAs with clients with portfolios over £200,000 would be concerned if a client was investing in cryptocurrencies


Despite these doubts, a third (33%) believe cryptocurrencies will become a legitimate investment vehicle in the future, with 24% thinking the same about meme stocks.

IFA Magazine did its small survey regarding Trading apps and the gamification of investing earlier this year, check it out here.

This Week’s Most Read

  • Baronsmead VCTs exit first sterling unicorn after Ideagen sale

    Gresham House’s Baronsmead VCTs have exited their stake in compliance software business Ideagen following its sale to private equity firm Hg Capital. The deal values

  • Fund Research Governance: is ‘fine’ good enough?

    Written by Laura Bampfylde, Director, Global Assets – Wealth, at Redington One of the most enlightening books I’ve read was written by husband-and-wife psychologists, Alan

  • ONS: Repossessions by county court bailiffs increase from 45 to 770 (1,611%)

    Following the latest Mortgage and landlord possession statistics published this morning, which reveal repossessions by county court bailiffs increased from 45 to 770 (1,611%) between

  • PIMCO: US CPI Preview

    By Tiffany Wilding, North American Economist, and Allison Boxer, Economist at PIMCO  This week focus turns to inflation, where recent commodity price weakness will become

  • Creating a profitable HNW/LNW advice service in specialist markets

    By Simon Binney, Business Development Director, Wealth Wizards For financial planning firms targeting new clients, often the problem is not attracting clients to their business,

  • #Podcast episode 7: JM Finn’s Sir John Royden on his superhuman swim for The Brain Tumour Charity

    This week’s podcast episode is something a bit different for IFA Talk…but certainly not an episode to be missed! Sue and Bex talk to Sir

  • FCA issues letter to alternative investment firms’ CEOs – experts comment

    The FCA has today issued a six page letter to CEOs of alternative investment firms about their supervisory strategy for such firms. David Newman, chief

  • Tackling Burnout in Financial Services

    Financial services professionals are increasingly suffering with stress which can often lead to burnout – a state of physical and emotional exhaustion. Latest research tells

  • PIMCO’s Tiffany Wilding: The Era of Kinder, Gentler Central Banks Is Over

    By Tiffany Wilding, PIMCO’s North American Economist Last week, the Bank of England (BoE) was the first major central bank to admit that it is

  • Advisers concerned clients are risking HMRC fines over trusts

    Advisers are concerned about their clients risking HMRC fines, by failing to register trusts with the Trust Registration Service (TRS) by 1st September, according to

Latest IFA Magazine Podcast Episodes

Keep updated on the most important financial events 

Make sure you are an informed

wealth professional..

Adblock Blocker

We have detected that you are using

adblocking plugin in your browser. 

IFA Magazine