I've been following exactly this advice for 20 years and got very disappointing results.

When I discovered bitcoin all that changed. Bitcoin is risky but when you look at the risk/return ratio, the opportunity cost and the potential of the technology, is probably the least risky asset out there.

Cash, bonds, and stock market laggards are way riskier for two reasons: inflation and opportunity cost.

I've written an article about this here -How to Invest $1000 in Crypto and Prepare For the Future.

I would argue those advisors that don't recommend bitcoin have not invest the time to understand the technology. Many of those were advising against investing in Apple, Google or Amazon when these were cheap.

Everything is risky but inaction is often the riskiest option.