Posted December 11, 2020SAN FRANCISCO and MIAMI, Dec. 8, 2020 /PRNewswire/ -- Blockchange Inc. and IRA Financial are partnering to enable IRA funds & select 401(k) plans to be invested in cryptocurrencies and digital assets, under the management of a financial advisor. The arrangement allows investors to leverage the tax-advantaged status of their IRA or 401(k) funds as they diversify into a range of cryptocurrencies.
Investors have previously been able to work with IRA Financial to invest in cryptocurrencies on an individual basis. Financial advisors have been able to expose their client's IRAs to crypto assets through digital trusts or funds that don't offer the benefits of owning the underlying assets. The new partnership means that the expertise of a financial advisor can be leveraged to manage a comprehensive crypto portfolio for the investor, while maintaining the tax advantages of a qualified IRA and owning the underlying assets.
"Many investors are realizing the diversification benefits cryptocurrencies offer and want to participate with their IRAs, but until now firms haven't had an efficient way to offer exposure for retirement accounts," commented Mathew Kolesky, President of Arbor Capital Management, one of the first RIA firms to adopt the Blockchange-IRA Financial solution. "The new partnership is a game changer that enables firms to expand their portfolio offering as they bring the benefits of crypto assets to their clients' IRAs and 401(k) plans."