Ric Edelman on Bitcoin: Breaking Down the Barriers to Entry

Real Vision: Finance & Investing

Real Vision

Investing, Business News, News, Business

4.1 • 1.1K Ratings

🗓️ 13 December 2020

⏱️ 47 minutes

🔗️ Recording | iTunes | RSS

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Summary

Acclaimed financial advisor Ric Edelman, founder of the RIA Digital Assets Council (www.riadac.com) and Edelman Financial Engines, the #1 RIA firm in the nation according to Barron’s, talks with Real Vision CEO Raoul Pal about the barriers preventing financial managers and investors from buying bitcoin and how the crypto community can gain mass adoption. Edelman explains the benefits of adding Bitcoin to a diversified portfolio, shares his approach to investing in digital assets, and reveals his expectations for a Bitcoin ETF. All this and more, recorded Nov. 30, 2020. Key Learnings: Due to the slow progress of an official Bitcoin ETF, there are significant barriers to entry for financial managers to give their clients exposure to this asset class. Edelman explains how these barriers will eventually be removed. As Bitcoin provides valuable diversification for portfolios where traditional allocations may no longer generate satisfactory returns and hedge risk in the current market environment, there is an urgent need for investors to become educated about the crypto asset class as it approaches mainstream adoption. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0	Rick, welcome to Real Vision.
0:09.0	It's great to be with you, Ralph, thanks.
0:14.0	So tell people a little about yourself what you do and then we'll also dig into your background a bit and because there's a lot of interesting things I think people are going to enjoy.
0:22.0	I'm a little bit schizophrenic. I'm wearing a couple of different hats these days. I'm probably best known for
0:28.7	being a founder of Edelman Financial Engines which is the largest registered investment
0:33.4	advisory firm in the country. We manage about $230 billion in
0:38.1	assets for more than a million clients. We're also the largest workplace
0:42.2	provider of 401k advice in the country about 130 of the Fortune
0:46.0	500 clients.
0:48.1	And so that's predominantly what I'm known for, but at the same time, I'm also the founder of Reidact the RIA
0:55.4	Digital Assets Council I created Reidact because I've discovered over the past
1:01.7	seven eight years that financial advisors know very little about
1:05.8	Bitcoin and more broadly digital assets as well as blockchain technology and
1:11.6	that's a I believe a really big problem. I was first introduced to this subject back in 2012,
1:18.0	started investing shortly thereafter, and I am convinced that financial advisors are making a big mistake by their lack of knowledge about this space.
1:28.0	Too many advisors dismiss it out of hand too quickly and I think they're doing the disservice to themselves on their clients.
1:34.6	So my activities of RiaDAC are in addition to my being the founder of the element of
1:40.3	challenges.
1:41.3	What I'd love to do because I think you've identified something which is the mindset of many
1:45.6	at the RIA's and things like that. So I'd love you to take us a little bit through the journey of
1:49.7	building this huge business that you've built.
1:53.0	Tell us a bit about that, because that in itself is a great accomplishment.
	...

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