Financial Advisors Voice Frustrations Amid Bitcoin Surge [Forbes]
Bank of America Corporation (BAC)
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Source: Forbes
In the wake of bitcoin's unprecedented surge past $90,000 following November's U.S. elections, financial advisors – particularly those in the wirehouse channel – are in an increasingly frustrating position, with many finding their hands tied when it comes to one of the most talked-about asset classes of our time. Tyrone Ross, CEO of 401 Financial and Turnqey Labs, spoke to this frustration in a phone interview last week: “There is a frustration that the advisors typically cannot discuss it with clients. They can't bring it up. They're admonished not to say anything at all, and they are embarrassed by that. It just makes them look silly.” Last week, Ross shared a screenshot on X (formerly Twitter) of a message from a seemingly disillusioned wirehouse advisor. In a follow up screenshot posted to X , the advisor wrote, “The fact that we can't even talk about it is a problem. It makes us look so bad.” Client Trust And Relationships At Stake The inability to engage in meaningful
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BAC
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- 11/20/24 - Form FWP
- 11/20/24 - Form 424B2
- BAC's page on the SEC website