Bitcoin Financial Services Firm Unchained Looks to Attract Wealthy Clients With New Advisory Service
Sound Advisory will offer a network of "bitcoin-competent" financial planners to help HNWIs build distribution and utilization strategies and address potential tax and inheritance issues.
Oct 18, 2023 at 1:55 p.m. UTC:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/S5YBO3APMNCVNOZATPCT45EAVY.jpg)
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Unchained, a bitcoin (BTC) financial services provider, has formed an advisory service catering to high-net-worth individuals (HNWIs).
Sound Advisory is designed to address the lack of bitcoin-native registered investment advisors (RIAs), said Unchained in an announcement shared with CoinDesk on Wednesday.
The service will offer a network of "bitcoin-competent" financial planners to help HNWIs build distribution and utilization strategies and address potential tax and inheritance issues, Unchained said.
In attempting to attract the deep pockets of HNWIs and other institutional investors, crypto firms are looking to craft offerings providing services that they would expect in traditional finance, advisory being one of them.
The formation of Sound Advisory follows Unchained teaming up with crypto protection and insurance firm Coincover earlier this month to enhance the custody of its $2 billion of bitcoin in assets under management.
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Jamie Crawley is a CoinDesk news reporter based in London.