A study released in the first half of June by consultancy Capgemini showed that most high-income individuals invest in crypto and digital assets – no less than 71%. However, despite this high percentage, investors allocate only 14% of their capital to crypto on average. The rest is invested in commodities, traditional currencies, private equity, and hedge funds.
To produce the 2022 World Wealth Report, Capgemini surveyed 2,973 investors who fit this definition, with 54% falling within a wealth range of US$1 million to US$30 million and 46% with assets above US$30 million. Younger individuals (under 40) are the most interested in crypto assets, with 9 out of 10 investing in the sector.
Wealth managers will lose market share if they don’t move forward into crypto
The survey also showed that wealth management firms are starting to take an interest in the crypto asset market, with projects to launch investment products aimed at their target audience, and that this brings a greater demand for education.
“Large wealth managers should prioritize educational actions on this trend to be able to retain their clients”, said Nilesh Vaidya, head of retail wealth management at Capgemini.
Released just before Capgemini’s report, a survey by Accenture, which considered only investors in the Asian market, also showed that wealth managers need to advance in the area of crypto assets.
The study pointed out that 67% of these firms have no plans to offer products or services related to digital assets. According to the consultancy’s assessment, this leads investors to seek opportunities and knowledge in other channels.
Thus, according to Accenture, if wealth management firms do not move forward in the digital asset market, they risk being left behind.