Buyers who’ve little interest in cryptocurrency in retirement plans
According to a survey by Morningstar, investors most often rated cryptocurrencies as the least important of 16 possible features in a retirement plan.
“While it might be worthwhile for advisors to measure customer interest in cryptocurrency, especially Millennial and Generation Z customers – who are about five times more likely to prefer cryptocurrencies in their retirement plans than baby boomers – this shouldn’t be a major factor in the decision -making, “Morningstar said in a comment on the poll results. “Traditionally, people still want attractive features such as good employer matches and the availability of professional advice.”
The 16 plan characteristics that were rated by investors included quarterly performance statements, the availability of professional advice, the number of investment alternatives, a mobile app, and automatic escalation.
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Although younger investors seem to find cryptocurrency more attractive than older investors, Morningstar says that even younger investors are generally reluctant to add it to their retirement portfolios.
“They are maybe five times more likely to be interested in cryptocurrency, but that still makes up less than 5% of the broader population of younger investors,” Morningstar said.
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