Most UK Financial Advisers Would Steer Clear of Crypto and Meme Stocks: Poll

16 June 2021

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.

  • 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.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

Read more