Ric Edelman, a heavyweight in wealth management, now says not having crypto in a portfolio is the riskier bet.
He recommends allocating 10–40% based on comfort with volatility. His argument hinges on longer lifespans, technological evolution, and crypto becoming mainstream and regulated. He frames omitting crypto now as possibly failing one’s fiduciary duty.
He may be right, obviously, but I wouldn’t myself want to be taking financial advice from someone (however good his record) who states publicly that owning crypto “isn’t a speculative position“.
“Aggressive clients should allocate 40% of their investments to crypto”?! 
I don’t understand. Who pays him to say this? Just people with a lot of bitcoin? Or he just has a lot of bitcoin himself? 
Here’s a video of why Edelman believes financial advisors need to get serious about bitcoin.
So you wouldn’t consider financial advice from someone who literally runs a financial advisory firm?
Barron’s ranked Edelman the #1 Independent Financial Advisor in the past. And has been added to its Financial Advisors Hall of Fame.
Why would he risk his reputation?
Not what I said at all. But a pretty entertaining way of going from one specific example to a broadly sweeping overgeneralization, so thanks for that. 
I’m sure his firm will set high net worth individuals with custody services. So… he gets paid! Ha!
Didn’t you?
Long term he’s probably right. Short term… if anything like the last 10 years, it’s a bumpy ride up!
