Bitcoin (BTC) financial services company Unchained (no relation to this news website) announced on Wednesday the unveiling of Sound Advisory, an affiliate registered investment advisory firm.
The launch comes as the prolonged crypto winter has put pressure on cryptocurrency prices. BTC has recovered more than 70 percent this year to $28,292, but is still trading far below the record high of $69,044 in Nov. 2021.
Sound Advisory is a separate company, so the Certified Financial Planners are free to recommend the right solution for customers even if that solution isn’t Unchained. The advisors can integrate bitcoin into personalized financial plans for BTC holders who don’t currently have a broader investment plan and for wealthy individuals looking to add BTC to their portfolio.
“By blending expertise in both bitcoin and traditional finance, Sound Advisory bridges the divide between legacy financial advisors and the needs of today’s bitcoiners. It represents the future of financial advice in a world where bitcoin is here to stay,” wrote Phil Geiger, Unchained’s head of product marketing, in the announcement post.
Unchained offers custodial services and users can then use the stored bitcoin for trading, loans and IRAs. The company raised $60 million in April in a Series B funding round.