Financial advisors who manage $ 110 trillion can now offer their customers crypto trading via Interactive Brokers-
Financial advisors who manage $ 110 trillion can now offer their customers crypto trading via Interactive Brokers-
registered investment consultants (RIAS) With an assets of around $ 110 trillion, their customers can now offer their customers' trade in cryptocurrencies via Interactive Brokers. Rias manage portfolios of almost 61 million customers.
registered asset consultants can now offer their customers cryptocurrencies
The global investment company Interactive Brokers Group (Nasdaq: IBKR) announced the start of the cryptocurrency trade for registered investment consultants (RIAS) in the USA
This offer will enable Rias to "act and keep Bitcoin ( btc ), ether ( eth ), litecoin ( ltc ) and bitcoin-bargeld ( BCH ) About the Paxos Trust Company on behalf of customers. " You will be able to manage your customers' crypto stocks alongside traditional investments, including stocks, options, futures, bonds, investment funds and Exchange Traded Funds (ETFS).
Almost 14,000 investment advisors registered with the US stock exchange supervisory authority (SEC) reported almost 61 million customers in 2020, according to a joint study by the Investment Adviser Association and National Regulatory Services. Both numbers are new highs for the industry. In addition, the industry manages total assets of around $ 110 trillion.
The Interactive Brokers platform has around 1.33 million customer accounts and $ 330.6 billion in customer capital in the first quarter. Customers from over 200 countries and territories invest worldwide over a single integrated account in stocks, options, futures, currencies, bonds and funds.
Steve Sanders, Executive Vice President of Marketing and Product Development at Interactive Brokers, commented:
The assignment of a small percentage of assets in cryptocurrency as part of a well -diversified portfolio has become increasingly common, and consultants want to recommend cryptocurrency to their customers.
The cryptocurrency trade with Paxos on the RIA platform from Interactive Brokers has commissions between 0.12% and 0.18% of the commercial value, depending on the monthly volume, the company said. In addition, it is added to the message that no additional spreads, serves or custody accounts are incurred.
The company found that the offer was initially only available for Rias in the USA, but it is planning to "introduce the service for financial advisors in other parts of the world in the future".
What do you think that RiaS can offer your customers crypto trade via Interactive Brokers? Let us know in the comment area below.
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