Arrow Icon
blog header pale blue image blog header abstract shape

Heart of Advice

Insights and best practices for successful financial planning engagement

left arrow Back to All Articles

Cryptocurrency for Financial Planners: How to Talk to Your Clients About Crypto Assets

Sasha Grabenstetter March 30, 2022

cryptocurrency for financial planners

While every few years a new financial concept or product captures the industry’s attention, nothing quite compares to the way cryptocurrency has stormed onto the scene.

Ever since Bitcoin’s historic rise in value1, cryptocurrency has secured its presence. And whether you like it or not, investors seem very interested. Our recent Investor Trends Survey shows that as many as 43 percent of investors own at least some cryptocurrency.2

Amidst the whirlwind of cryptocurrency popularity, investor interest, new regulation (or lack thereof), and uncertainty about the future, how should financial advisors navigate conversations around cryptocurrency with clients?

Going Further with the Crypto Conversation

At this point, you’ve probably been asked about cryptocurrency more than once. While you don’t need to be an expert on the subject, you do need to be able to understand your clients’ motivations when they start asking about crypto assets.

When a client asks about crypto, keep the conversation going with open-ended questions. Use the counseling technique of “tell me more about…” and find out what’s behind their inquiry into crypto. Understanding their motivation for asking about crypto is just as important as then discussing if it’s right for them and their portfolio.

Discussing Risk Tolerance for Cryptocurrency

Depending on your relationship with your client, rehashing their risk tolerance may be the next step of the conversation.

Discussing the client’s current financial and life circumstances is an important part of the risk conversation. For a 70-year-old retired client with an established financial plan, cryptocurrency may not be a wise investment in any regard. For clients with a longer time horizon to retirement, earmarking other non-retirement funds they can use to invest in crypto could be an option with an acceptable risk level.

Cryptocurrency, like Bitcoin, has had a choppy and volatile trading history.1 That’s something that almost any financial expert will agree on. But it may make sense for some clients who are truly interested in it, which means the onus is on the financial professional to have at least a basic understanding of these assets, especially in the context of investment portfolios, the level of risk their clients are willing to take, and long-term financial plans.

What You Need to Know About Crypto Investing, Advising, and Risk

If a client is adamant about getting into crypto, you can’t really stop them, but you can help guide the conversation on how much of their money could go into this asset class.

Give them the advice you feel comfortable giving them. Right now, cryptocurrency changes constantly, as the whole asset class continues to grow exponentially with new coins to invest in. If you feel knowledgeable enough or have a cryptocurrency designation and can give your clients some tools, research, or investing platforms they need know about to successfully invest, then do it!

In the end, if the client is really motivated to get into crypto, they’re going to. But as the planner, you want to be involved in those conversations instead of being left out.

Guiding Clients by Learning More

As with any other specific financial topic, some of us are more knowledgeable than others. Cryptocurrency is still very new, so take some time to get acquainted with it, what your stance on it is, and if you feel like it could be valuable to some of your clients.

If you have a desire to learn more, there are currently two designations available to financial professionals: the Certificate in Blockchain and Digital Assets (CBDA) and the Certified Digital Asset Advisor (CDAA) designations.

After learning more about crypto, you could leverage your knowledge to engage new clients, or even reengage existing clients, by becoming the expert and confidant they need to guide them with this new type of asset.

Take a deeper dive into the conversation about cryptocurrency in our on-demand CE webinar with Tyrone Ross, Jr, Founder of 401 STC. Learn about the basics of investing with these assets, advising clients, and navigating risk. (On-demand version not eligible for CE credits)



1. Edwards, John. “Bitcoin’s Price History.” Investopedia, 2022. February 10.

2. 2021 eMoney Investor Trend Survey, December 2021, n=2,000.

Image of Sasha Grabenstetter
About the Author

Sasha Grabenstetter, AFC®, BFA™ is a Financial Planning Education Consultant at eMoney Advisor. She is an integral part of the internal and external financial planning education programs, as well as financial planning content development. Sasha won the 2020 Outstanding Symposium Practitioners' Forum Award from the Association for Financial Counseling and Planning Education. She previously co-authored “Apple Seed: A Student Guide to Pro Bono Financial Planning” and “All My Money: Change for the Better.” With close to 10 years in financial education, Sasha received her AFC® designation in 2015 and graduated with her master’s degree from Texas Tech University in 2012.

You may also be interested in...

empowered client shopping with mobile client portal

Empowering Financial Wellness: How Client Portals Reduce Financial Anxiety and Transform Client Relationships

Feelings of financial insecurity have surged to an all-time high among Americans, with one-third (33 percent) reporting that they do… Read More

A financial advisor holding a review meeting with clients.

Optimize Client Reviews with Technology and Finpsych

Mid-year and annual reviews are common deliverables in any financial professional’s service calendar. Regular reviews are critical because financial planning… Read More

value of financial planning

How to Illustrate the Value of Financial Planning

Has a prospect ever asked you, “What is the true value of financial planning?” It’s a common question, and it… Read More

eBook: The New Advisor Value Proposition

Download our latest eBook and learn how top advisors are combining Fintech and FinPsych for superior client outcomes.

Download Now

Sign up to have the most popular Heart of Advice posts delivered to your inbox monthly.

Heart of Advice by eMoney Advisors

Welcome to
Heart of Advice

a new source of expert insights for
financial professionals.

Get Started

Tips specific to the eMoney platform can be found in
the eMoney
application, under Help, eMoney Advisor Blog.