Survey Overview: Majority of UK Wealth Advisors Cannot Manage Client Crypto Assets
According to a recent survey by CoinShares, the European wealth management industry faces a significant blind spot in digital asset services. The survey, covering 261 European wealth management professionals, found that more than half of UK wealth advisors acknowledge that the majority of their clients' digital asset exposure lies outside their oversight. CoinShares defines this 'management gap' as the portion of clients' digital assets not under the advisor's purview — for example, assets held in personal exchange accounts or self-custody wallets. The findings highlight a growing disconnect between traditional wealth management and the rising adoption of cryptocurrencies.
Firm Policy as the Primary Cause: 8.5x Higher Unmanaged Risk at Restrictive Firms
The survey identifies firm-level policies as the sole driver of this blind spot, not knowledge gaps or weak client demand. Advisors working at companies that explicitly restrict digital assets or lack clear internal guidance are 8.5 times more likely to face unmanaged client risk compared to those at firms with explicit support. Approximately 61% of respondents work at firms that either ban digital assets outright or provide no clear internal policies. In such restrictive environments, the rate of actively recommending digital assets drops to just 1%, whereas at supportive firms it reaches 48%.
Inverse Relationship Between Internal Support, Recommendation Rates, and Management Gaps
The management gap shows an opposite trend: advisors at restrictive firms report a 34% active recommendation rate for external digital asset solutions, compared to only 4% at supportive firms. This suggests that restrictive policies inadvertently push advisors to send clients outside the firm, exacerbating the management gap. Additionally, over three-quarters of advisors who self-identify as lacking knowledge about digital assets work at closed firms — these professionals have never received training because their companies never prepared to provide it. About 8% of surveyed advisors note growing client interest, yet the management gap exceeds 50%. CoinShares urges the industry to reassess internal policies to meet the increasing demand for digital asset services.