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Most UK Financial Advisers Would Steer Clear of Crypto and Meme Stocks: Poll
Also, 95% would not recommend so-called meme stocks, such as GameStop.
Updated Sep 14, 2021, 1:12 p.m. Published Jun 16, 2021, 2:23 p.m.
More than 90% of U.K. independent financial advisers (IFAs) say they would never recommend crypto or meme stocks as investments to their clients, according to a poll by Opinium.
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- Of the 200 IFAs surveyed by Opinium, 93% would not recommend investing in crypto, according to reports Wednesday.
- Meanwhile, 95% would not recommend so-called meme stocks, such as GameStop. The video-game retailer's shares surged from $18 to $483 in January, driven by Reddit forum WallStreetBets.
- Furthermore, 91% would be concerned if a client said they were investing in such assets.
- Only a third of respondents reported witnessing an increase in interest from clients in crypto in 2021, while 14% have seen increased interest around meme stocks.
Read more: UK Regulator FCA Extends Registration Deadline for Crypto Businesses
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