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Michael Derbin, head of Fidelity Institutional, thinks that many wealth managers and financial advisors still lack the requisite in-depth knowledge when it comes to digital assets.
Whereas some wealth managers are by now “sophisticated” and “comfortable” with cryptocurrencies and their underlying technology, he said, many others lag behind. In an interview at Reuters Digital Asset Week, Derbin noted: “They know what they are doing, and more importantly their end investor base also knows what they are doing — but the vast majority are still in the education mode.”
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