ESTIMATED TIME: 5 MINUTE
History-changing innovations are often met with resistance and come with a steep learning curve — the emerging crypto economy is no different. Blockchain technology, protocols built on blockchains, and decentralized finance projects will undoubtedly revolutionize the way our world operates. From providing access and resources to historically underserved and unbanked populations, to transitioning the world’s financial institutions from that of traditional systems to a decentralized one where trust lies in the community as opposed to a single entity, the possibilities are both enormous and limitless.
As such, the meteoric rise of cryptoassets was accompanied by a corresponding rise in confusion, well meaning or otherwise, which is then further exacerbated by social media. Whether it’s crypto maximalists taunting skeptics to “have fun staying poor,” malware ransoms, or network hacks, cryptoassets have had their fair share of bad PR. In spite of all this, flows into the asset class have skyrocketed. Bulls and bears alike have persisted in their preconceived notions but, in true decentralized fashion, the markets continue to rise and fortunes are being made independent of politics, banter, and sometimes outright mockery.
Cryptoassets and decentralized finance have taken the world and financial markets by storm. What was once responsible reticence in the advisory community has unfortunately evolved into a long overdue conversation that many clients are interested in having. When the tides of change roll in, we can swim in the direction of the water, or we can resist until the waves overwhelm us. Cryptoasset markets are closer to a riptide, and education is the life raft. Many advisors dislike commodities, high yield, and emerging markets, but a base level knowledge of these assets is required to be conversant with clients. Cryptoassets are no different, with the caveat that retail/client interest is far stronger and still growing. Only through thorough due diligence can advisors form educated opinions for themselves. The good news is that many clients are in the same boat. We believe this asset class is a generational opportunity for advisors to reaffirm their value proposition to customers by guiding them through this novel but exciting asset class that is still in its early days of price accretion.
Onramp Invest was created to help financial advisors E.A.T. by providing them with the education, access, and tools necessary to tackle the cryptoasset markets. So when our Cofounders Eric Ervin and Tyrone Ross Jr. mentioned the possibility of creating Onramp Academy, I was overjoyed. I knew the project would take on a life of its own, and I knew I wanted to be a part of it. Why? There is a reason that the acronym is EAT rather than TEA, ATE, or TAE. Education should always come first.
Education is the impetus for change. If there’s one thing I know about the human race, it’s that we resist change at all costs — especially those with the potential to materially impact our lives. Decentralization and the broader implications of the blockchain movement will drive monumental disruption of the financial services industry and beyond. But again, change is hard. Many people would prefer to postpone adoption of new technologies until forced to do so. Specific to the financial advisory space, we knew that hesitant FAs would only be swayed if the path to enter this new asset class was fast, seamless, and easy to understand.
After more than a decade, there is now widespread acceptance of the crypto economy. However, there will not be widespread adoption unless investors are provided with the educational resources required to understand it. The sophisticated nature of the technology can be intimidating to those who built careers on antiquated legacy systems. The more you learn about cryptoassets, the more you realize how little you know. Information is everywhere, but it’s difficult to know where to start, and often even knowing which sources to trust presents an additional challenge in itself. Hence, the need for a tailored solution. Financial advisors require not only cryptoasset education, but also the resources fitted to their specific needs that answer questions like: Why should I care? How do I have conversations with my clients? How do I determine suitability and, if suitable, where do cryptoassets fit within a portfolio? As many clients already own some, how do I advise them on those assets when they come up?
Rather than get lost in the minutia, advisors need a trusted guide in the space — that’s Onramp. We give you the education, access, and tools you need to succeed. Onramp Academy is a safe space for advisors to learn the basics of cryptoassets in familiar language, without judgment, and with the capability to engage with Academy specialists to get answers to questions they may be uncomfortable asking elsewhere. There are no dumb questions here, only a mindful commitment to patient education.
Onramp Academy is an evolving resource on cryptoassets for financial advisors. We understand that education is at the core of the financial advisor-client relationship, and that the most impactful financial advisors educate their clients, empowering them to make sound financial decisions. We created Onramp Academy to expose, educate, and empower financial advisors with the tools to confidently explore and introduce cryptoassets to their clients.
The Academy is supported by traditional legacy brands that advisors know and trust. In partnership with these firms, the Onramp team has curated a wealth of resources to assist advisors in becoming educated on the crypto economy and better serve their clients. The Academy consists of hand-selected written content, videos, podcasts, and other tools to help financial advisors sort through the minutia and get straight to the information that will directly impact their practice.
This material is presented for general information purposes only, and does not constitute an offer to buy or sell securities. This publication does not constitute general or personal investment advice or take into account the individual financial circumstances or investment objectives, or financial conditions of the individuals who receive it. This does not constitute an offer or solicitation to purchase or sell any securities or Funds, nor shall any securities be offered or sold to any person in any jurisdiction in which an offer, solicitation, purchase, or sale would be unlawful under the securities laws of such jurisdiction.