The core questions to ask a crypto wealth manager cover registration, custody, tax coordination, estate planning, fees, conflicts, reporting, and direct experience with digital asset wealth. The answers reveal whether the adviser is a registered fiduciary, where your keys and coins actually sit, and how they handle the tax and succession risks unique to crypto.
A crypto wealth manager is an adviser who helps high-net-worth households hold, protect, and pass on digital assets, usually within a broader plan that spans crypto wealth management, custody, tax, and estate structures. The questions below are a due-diligence checklist; treat the answers as a starting point and confirm specifics against the adviser's own Form ADV and written disclosures.
Questions
Use these to evaluate any prospective adviser. There are no universally "right" answers, what matters is that the responses are specific, documented, and verifiable.
Registration and fiduciary status
- Are you registered as an investment adviser, and what is your CRD number on Investment Adviser Public Disclosure? (Registration alone does not guarantee skill or good outcomes, read the ADV for disciplinary history and conflicts.)
- Do you act as a fiduciary on the full crypto relationship, or only on certain accounts?
Services and scope
- What services do you provide, and do you advise on direct crypto, ETFs, separately managed accounts (SMAs), or all of these? See How to Choose a Crypto Wealth Manager for how scope affects fit.
- Do you support trusts, LLCs, and family offices as account structures?
Custody
- How are assets custodied, and do you use a Cryptocurrency qualified custodians have emerged to serve institutional requirements. Qualified custody may be required for register">qualified custodian under the SEC custody rule rather than holding keys yourself?
- Can you provide the custodian's SOC 1 / SOC 2 reports, and explain cold storage, multi-sig, and insurance limits? The tradeoffs are covered in Qualified Custody vs Self-Custody for Crypto Wealth.
Tax coordination
- How do you handle cost basis and tax records, and how will you reconcile activity for Form 1099-DA?
- How do you coordinate with CPAs and estate attorneys, given that the IRS generally treats digital assets as property?
Fees, conflicts, and reporting
- What fees do you charge, and what conflicts of interest should I understand?
- How do you report performance and holdings, and how often?
Crypto-specific events
- What happens during a token liquidity event, and how do you plan for concentration and tax exposure?
- How do you support estate access planning so heirs can reach the assets, see Private Key Succession Planning, without exposing keys prematurely?
Related Questions
How can I verify a crypto wealth manager is registered?
Search the adviser or firm on the SEC's Investment Adviser Public Disclosure site and read their Form ADV Parts 1 and 2. Registration is generally a baseline requirement, but it confirms disclosure, not competence, review any disciplinary history and stated conflicts before deciding.
What is the most important custody question to ask?
Generally, ask whether your assets sit with a qualified custodian and how the keys are secured (cold storage, multi-sig, segregation, insurance limits). No custody arrangement removes all risk, so request the custodian's SOC reports and confirm what coverage does and does not apply.
Should a crypto wealth manager coordinate with my CPA and estate attorney?
In most cases, yes. Crypto raises cost-basis, reporting, and succession issues that span tax and estate law, and the IRS generally treats digital assets as property. Confirm how the adviser shares records and works alongside your other professionals, and consult those qualified professionals on your specific facts.
Sources
- SEC: Investment Adviser Public Disclosure
- IRS: Digital assets
- SEC: Investor Bulletin, Custody of Your Investment Assets
Compliance Note
This article is educational and does not provide legal, tax, investment, fiduciary, or custody advice. Investors should verify disclosures and professional qualifications.