cryptoknowmics.com
Flourish, a Fintech platform aimed at Financial Advisors has launched a digital asset project dubbed "Flourish Crypto." The portal is offering RIAs with easy-to-access Bitcoin investment options as well as advisor-specific compliance materials.
Flourish Is Now Offering Bitcoin Investment Options to RIAs
According to a GlobeNewswire press release, Flourish Crypto will give access to direct Bitcoin ownership. Clients will be able to exchange Bitcoin online at any time for a minimum of $100.
At the moment, it looks that the organization's greatest digital asset will be the only choice available.
Meanwhile, the BTC purchased via the platform’s account will be held in custody by a licensed cryptocurrency custodian, Paxos Trust Company.
Paxos recently announced a similar collaboration with interactive Brokers Group (Nasdaq: IBKR) to provide cryptocurrency trading and custody services to their clients.
Flourish Crypto will be intimately intertwined with the company’s existing RIA environment. Integration with eMoney Advisor, Orion, Envestnet | Tamarac is among those included.
Crypto assets may thus be billed and reported on in the same way that any other asset can.
Advisors In Search Of Cryptocurrency Expertise
The new project, according to Ben Cruikshank, Head of Flourish will assist fulfill the advisor's rising need for Bitcoin investment knowledge.
“We’ve heard from countless advisors that they are fielding questions about crypto daily - and that they don’t have the right solutions to meet this growing client demand or to compete with offerings from retail trading platforms and wirehouses”.
Cruikshank believes that the Flourish Crypto will enable advisors to retain crypto-assets “inside their circle” and deliver customized digital asset solutions to individual customers.
According to 2020 research, 80% of financial advisers had received cryptocurrency-related queries from their clients. Almost 10% of advisers purchased cryptocurrency for their clients.
iCapital and Grayscale collaborated earlier last month to develop a service similar to Flourish Crypto. This was also in response to increased client demand for cryptocurrency solutions and guidance.
The CEO of iCapital Network, Lawrence Calcano, noted an “increasing desire for uncorrelated return possibilities in client's portfolios,” with digital assets at the forefront.