Planning Discovery - Bitcoin in a Plan

We Launched a Community!

We’ve found that learning the basics of bitcoin, crypto, and blockchain is just the beginning. You then need to keep up to date, ask questions, and add it to your practice.

We have the group for you!

The Future of Financial Services Community.

• Conversations with other advisors

• Expert webinars

• Resources and tools

• Educational courses

Hit the button below to check it out. You get a 14-day free trial, followed by $25 per month or $250 per year to join us.

🗣️ Part of the Plan

Navigating the Rebalancing Rodeo

Alright, picture this: you've got a little Bitcoin action going on in your portfolio—let’s say around 3%, either directly or through an ETF. Now, imagine Bitcoin goes on one of its trademark joyrides and suddenly your modest slice of the crypto pie is now a full-blown feast. Here's the big question: Do you stick to the original plan and trim it back down to 3%, or do you just go with the flow? This is the kind of pow-wow you’ll want to have with your clients, especially when tax time comes knocking if your bitcoin's been lounging in a taxable account.

And speaking of taxes, that opens up a whole can of worms: Where's the best spot to stash your clients’ bitcoin stash? In a taxable account where Uncle Sam can get his hands on it, or something more like an IRA to shield it from taxes?

These decisions are taking place with advisor-client relationships now, as more advisors understand bitcoin and crypto technology, investment theses, and investments, and as we move from FOMO to real allocation.

Surfing the Volatility Tsunami

Now, let's chat about the big V—volatility. Bitcoin's rollercoaster can be a bit much, especially if you're eyeing retirement and need your investments to be on their best behavior.

Here’s a strategy we’ve seen: balance out your bitcoin with some steady earners to keep the cash flowing even when bitcoin decides to take a dip.

Clients who need to protect purchasing power can hold bitcoin, but have income-generating products to pay their bills so they don’t have to worry about bitcoin volatility.

Handing Over the Crypto Keys

Heading into the homestretch, let’s tackle estate planning. If you’re dabbling in ETFs, you’re in the clear since they’re pretty straightforward. But if you're holding bitcoin the old-fashioned way, it’s a bit trickier. Who’s going to inherit your clients’ digital goldmine, and how do you make sure they can actually get to it?

It’s more than just handing over a piece of paper; it’s about making sure the next in line is savvy about what to do with those private keys or maybe setting up a multi-sig wallet. It’s like a digital passing of the torch, ensuring your crypto legacy is in good hands.

The Big Picture

Diving into the crypto pool is one thing; knowing how to swim in it is another. It’s all about understanding enough to have those deep conversations with your clients, touching on everything from rebalancing to the nitty-gritty of tax planning, and yes, even giving their kids a crash course in crypto.

As bitcoin and other crypto assets find their footing in our investment portfolios, embracing this full-spectrum strategy is crucial for smart, and hopefully profitable, navigation.

We Launched a Community!

We’ve found that learning the basics of bitcoin, crypto, and blockchain is just the beginning. You then need to keep up to date, ask questions, and add it to your practice.

We have the group for you!

The Future of Financial Services Community.

• Conversations with other advisors

• Expert webinars

• Resources and tools

• Educational courses

Hit the button below to check it out. You get a 14-day free trial, followed by $25 per month or $250 per year to join us.