Happy Thursday, advisors!
In today’s newsletter, Jennifer Rosenthal of the DeFi Education Fund shares new survey data pointing to an opportunity for advisors as clients look beyond traditional finance.
Then, in “Ask an Expert,” DJ Windle of Windle Wealth explains why younger investors are more open to alternative financial systems.
Happy reading.
– Sarah Morton
Fading trust in banks is an opening for financial advisors
Most Americans rely on large financial institutions to keep their money safe, but fewer than half of Americans actually have high levels of trust in these legacy institutions. In a few days, Americans will vote in the midterm elections, which will help decide how the next generation of financial products gets built and regulated.
In a new national, longitudinal study, we at the DeFi Education Foundation surveyed Americans to hear their perspective on the state of the current financial institutions and their openness to frontier technologies. We used Ipsos on KnowledgePanel, the same gold-standard methodology used for the Federal Reserve’s Survey of Household Economics and Decision Making. The data shows how wide the gap has grown between the financial system and the people it serves.
Some relevant findings for financial advisors:
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