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2022 Annual Conference

May 19–21, 2022

Sheraton Sand Key, Clearwater Beach, FL, US

Proposal authors can use this tool to see where they have been placed in the program agenda for an Oral or Poster Session.

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Confirm your place in the schedule by going to the ACCI Presenter Confirm Google Sheet and marking your session with the name and email address of the author who will be attending and presenting. Each presentation must have a separate paid registraint. Contact the ACCI Office immedicately by email at admin@consumerinterests.org to report a conflict or if you have questions. Please be sure to reference the session title(s), date(s), and time(s) if you contact us.

D1b Crypto Comes to Wall Street: Who's Buying?

Friday, May 20, 2022 at 2:00 PM–3:30 PM EDT
Room 1
Key Words

cryptocurrency, financial advice, financial literacy

Short Description

This study combines practitioner and academic analysis to explore the association between seeking information from financial advisors and investing in cryptocurrency. In addition, we discuss advisor and client sentiment towards cryptocurrency. Our research uses data from the 2018 state-by-state National Financial Capability Study (NFCS) and the 2018 Investor Survey (IS). The NFCS and IS are combined to examine investor literacy, the use of a financial advisor, and which investors buy cryptocurrency. Our findings showed that investors seeking advice from financial advisors had a lower likelihood of investing in cryptocurrency, while those using stockbrokers were more likely to invest in cryptocurrency. In addition, there is an increased interest in cryptocurrency, with a small but growing number of advisors allocating cryptocurrency in client portfolios.

Submitter

Richard Stebbins, University of Alabama

Authors

Richard Stebbins, University of Alabama
Jonathan Millican, Bridgeworth Wealth Management
Kyoung Tae Kim, University of Alabama
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