Zabo’s Portfolio Provides Wealth Managers With New Crypto Revenue Stream

News | January 26, 2021 By:

Financial data aggregator Zabo has unveiled a new product designed for Registered Investment Advisors (RIAs) and Financial Advisors to track and manage their client’s bitcoin and cryptocurrency assets via a completely white-labeled portfolio dashboard.

With high-end retail investors pushing their RIAs and wealth managers to join the bull run, many had dismissed bitcoin and other cryptocurrencies as a worthy component of clients’ investment portfolios, mainly because crypto assets have not been necessarily easy to incorporate into traditional investment portfolios. If RIAs and financial advisors are not able to track their clients’ crypto assets or include it with AUM they are essentially leaving money on the table.

One promising approach is to integrate cryptocurrencies into existing portfolio reporting systems, via Zabo’s new white-labelled cryptocurrency Portfolio dashboard that integrates with 50+ leading exchanges and wallets, instantly providing detailed balance and transaction histories for RIAs and advisors to start tracking their client’s crypto assets, and calculate tax burdens just as they do for other asset classes.

“Cryptocurrencies historically have not been tracked by advisors and as a result, are not included in the complete financial picture of clients or overall advisor AUM. This is despite clear data showing that clients both currently hold and are highly interested in the asset class. Both advisors and clients can benefit tremendously from leveraging Portfolio,” said Alex Treece, Co-Founder, and President at Zabo.

Zabo also announced two initial partnerships for Portfolio: the Certified Digital Asset Advisor (CDAA) program, a provider of Digital Asset education for Financial Advisors in the US, and SmartKX, a software platform for helping financial advisors accurately manage client contracts and fee billing.

“We’re thrilled to partner with Zabo and their Portfolio product to give financial advisors real-time insights into client cryptocurrency accounts and holdings. It’s a key, missing piece that will help provide a sustainable path for advisors to support this exploding asset class and grow their AUM,” said Adam Blumberg, CFP, and Board Chairman of CDAA.

“Advisors must review a client’s complete financial picture – including their client’s crypto holdings – in order to give their clients holistic advice and planning services. Zabo’s Portfolio picks up where legacy systems fall short and provides a seamless and compliant way for advisors to view client’s real-time crypto holdings and include that information in the advisor’s analysis, advice and client reporting. RIAs can now serve their clients without tripping up on commonly cited issues preventing RIA-crypto-adoption like custody, valuation, and billing. Our partnership with Zabo allows RIAs to mitigate risk in advising on these assets by properly documenting the relationship and how the RIA will be paid for their work.”