{"id":5604,"date":"2026-01-14T09:45:33","date_gmt":"2026-01-14T09:45:33","guid":{"rendered":"https:\/\/cryptonews.uk.com\/?p=5604"},"modified":"2026-01-14T09:45:33","modified_gmt":"2026-01-14T09:45:33","slug":"australian-advisers-face-growing-pressure-as-crypto-demand-outpaces-advice","status":"publish","type":"post","link":"https:\/\/cryptonews.uk.com\/?p=5604","title":{"rendered":"Australian Advisers Face Growing Pressure as Crypto Demand Outpaces Advice"},"content":{"rendered":"

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  • While large financial institutions globally, such as Bank of America, move to allow their advisers to recommend crypto products, Aussie financial advisers remain poorly informed and reluctant to engage with crypto, according to Andrew McPhee from Swyftx.<\/span><\/li>\n
  • McPhee said many Aussie advisers continue to hold \u201coutdated misconceptions about digital assets,\u201d and mistakenly believe their clients aren\u2019t interested in crypto, when they should be ramping up efforts to engage clients on crypto.<\/span><\/li>\n<\/ul>\n<\/div>\n<\/div>\n

    On January 5, Bank of America moved to allow its financial advisers to recommend crypto exchange-traded fund (ETF) products to their customers, reflecting an emerging global trend towards professional financial advisers becoming more comfortable with digital assets.<\/p>\n

    However, in Australia, many financial advisers still lack rudimentary knowledge of digital assets and are reluctant to even speak about them with customers, let alone recommend them as investments, according to financial services industry lead at Brisbane-based crypto exchange Swyftx, Andrew McPhee.<\/p>\n

    Speaking to Independent Financial Adviser<\/em>, McPhee said that many Aussie financial advisers continue to hold \u201coutdated misconceptions about digital assets.\u201d<\/p>\n

    \u201cThe most common misconceptions I hear from the industry are crypto is a speculative bubble (often compared to tulips or pet rocks),\u201d McPhee explained. Many advisers still believe crypto is \u201conly used by criminals and money-launderers,\u201d and that \u201cthere\u2019s no real value being generated by crypto and that clients aren\u2019t interested in crypto,\u201d he said.<\/p>\n

    McPhee said the idea that Aussie investors aren\u2019t interested in crypto is particularly misaligned with the facts \u2014 with a recent Swyftx\/YouGov report finding that 21% of Australians already own crypto. He believes advisers\u2019 perception of a lack of interest may be something of a self-fulfilling prophecy, with advisers\u2019 reluctance to talk about crypto giving them the false impression their clients aren\u2019t interested.<\/p>\n

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    We know that advised investors are much less likely to hold digital assets, yet are very interested in investing in them.<\/em><\/p>\n<\/div>\n

    \n Andrew McPhee, Financial Services Industry Lead at Swyftx <\/div>\n<\/div>\n

    \u201cMy belief is that older investors are at least partially less likely to invest in digital assets due to them having a much higher chance of being in an advised relationship.\u201d<\/p>\n

    According to McPhee, the time has come for Aussie financial advisers to shift from a \u201cshould we engage,\u201d mindset around crypto to a \u201chow will we engage,\u201d mindset.<\/p>\n

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    The question is no longer when digital assets will become mainstream \u2013 it is who will move first to give their clients what they want.<\/em><\/p>\n<\/div>\n

    \n Andrew McPhee, Financial Services Industry Lead at Swyftx <\/div>\n<\/div>\n

    Related:<\/strong> Bank of America Opens the Door to Crypto Allocations for Wealth Clients<\/p>\n

    Time for the Aussie Financial Advice Industry to Level-up on Crypto: McPhee<\/h2>\n

    McPhee believes now is the time for Australian financial advisers to begin to level-up their approach to digital assets, developing a more nuanced and informed strategy around crypto recommendations.<\/p>\n

    \u201cYou don\u2019t need to recommend bitcoin today. But education must come first, across advisers, investment committees, and compliance teams,\u201d he explained.\u00a0\u00a0<\/p>\n

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    If the internal position is still binary or dismissive, the gap between client expectations and adviser readiness will continue to widen.<\/em><\/p>\n<\/div>\n

    \n Andrew McPhee, Financial Services Industry Lead at Swyftx <\/div>\n<\/div>\n

    McPhee said client access to crypto through professional financial advisers should be standardised across the industry, explaining that \u201cad-hoc exceptions are where advice risk lives.\u201d\u00a0<\/p>\n

    \u201cStandardised, compliant access with full transparency is how new asset classes are integrated without breaking advice models.\u201d\u00a0<\/p>\n

    Related<\/strong>: Crypto Overtakes Property: Australians Swap Bricks for Bitcoin<\/p>\n

    McPhee said that while each financial advice business\u2019s approach to crypto is ultimately its own decision, he encourages all financial advisers to get educated on digital assets rather than rely on outdated misconceptions.\u00a0<\/p>\n

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    Just make sure you are making an informed decision, not one anchored in fear, laziness or misconceptions. You\u202fowe your clients that.<\/em><\/p>\n<\/div>\n

    \n Andrew McPhee, Financial Services Industry Lead at Swyftx <\/div>\n<\/div><\/div>\n

    Australia,Cryptocurrency#Australian #Advisers #Face #Growing #Pressure #Crypto #Demand #Outpaces #Advice1768383933<\/p>\n","protected":false},"excerpt":{"rendered":"

    While large financial institutions globally, such as Bank of America, move to allow their advisers to recommend crypto products, Aussie financial advisers remain poorly informed and reluctant to engage with crypto, according to Andrew McPhee from Swyftx. McPhee said many Aussie advisers continue to hold \u201coutdated misconceptions about digital assets,\u201d and mistakenly believe their clients<\/p>\n","protected":false},"author":1,"featured_media":5605,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[1231,853,141,62,693,1229,1230,811,534],"class_list":{"0":"post-5604","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-bitcoin","8":"tag-advice","9":"tag-advisers","10":"tag-australian","11":"tag-crypto","12":"tag-demand","13":"tag-face","14":"tag-growing","15":"tag-outpaces","16":"tag-pressure"},"yoast_head":"\nAustralian Advisers Face Growing Pressure as Crypto Demand Outpaces Advice - Crypto News: Latest Cryptocurrency News and Analysis<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptonews.uk.com\/?p=5604\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Australian Advisers Face Growing Pressure as Crypto Demand Outpaces Advice\" \/>\n<meta property=\"og:description\" content=\"While large financial institutions globally, such as Bank of America, move to allow their advisers to recommend crypto products, Aussie financial advisers remain poorly informed and reluctant to engage with crypto, according to Andrew McPhee from Swyftx. 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