Are you a registered investment advisor interested in expanding your knowledge of cryptoassets for investment purposes? You might want to consider registering with Onramp Invest. The company provides registered investment advisors with the access, education, and tools they need to understand and trade in cryptoassets.
Onramp Invest
Onramp Invest is an integration platform as a service (iPaaS) technology firm. Tyrone Ross, Jr., who founded it, is the company’s chief executive officer, and co-founder Eric R. Ervin is its chief strategy officer. Since its establishment, the company has caught the attention of investors from around the world.
On August 3, 2021, the company raised $6 million in seed fundraising. It received funding from the following investors:
Gemini Funds
Ritholtz Wealth Management
Malex Enterprises
Fox Ventures
Galaxy Digital
Silicon Beach Investment Group
Eterna Capital
Coinbase Ventures
WisdomTree
With the money it received, the company plans to offer expanded services to registered investment advisors. It also hopes to get broker and dealer registrations. Additionally, to undertake all the work, it plans to hire more qualified employees to expand the size of its engineering team.
Services offered by Onramp Invest
Onramp Invest offers a cryptoasset management solution for registered investment advisors (RIAs). With this platform, the RIAs can get easy access to cryptoassets. It has made it more convenient for them to provide their clients with the right investment advice for investing in cryptoassets and, at the same time, continue with their current workflows and billing models. They can manage the cryptoassets alongside overseeing more traditional investment options.
By using the Onramp Invest platform, registered investment advisors can access educational resources related to cryptoassets to learn more about them. The Onramp Academy offers extensive resources that registered investment advisors and their clients can use to learn about crypto networks and their frameworks. Registered investment advisors can also get informational materials that they can specifically use to explain crytoassets to their clients. Additionally, they can view held-away cryptoassets and make trading decisions for their clients.
To offer fast and direct access to various cryptoassets for registered investment advisors and enable adviser and client onboarding, Onramo Invest has partnered with the crypto exchange and custodian Gemini and with Prime Trust. After enrolling as advisers, registered investment advisors can check sources at ten different provided links and review held-away assets. They can then get started purchasing Bitcoin and ETH for investment purposes for their clients. There are thousands of other cryptoassets or cryptocurrencies available for investors.
According to Tyrone Ross, the Onramp Invest CEO, a major challenge the company faces in offering its integration platform as a service to RIAs and their clients is that many insurance companies are so far reluctant to provide insurance coverage to the speculators.
Registered investment advisors
Registered investment advisors are financial advisory companies that have official state or federal registration and can legally provide financial advice to clients. They can register with the Securities and Exchange Commission (SEC) or the state securities regulators. As per the regulations established by these entities, registered investment advisors have the legal obligation to look out for client interests. They can only offer them financial advice that can benefit them. In addition to investment advice, they can make recommendations for retirement planning, estate planning, and insurance.
For instance, if low-cost crytoassets are available and meet their client requirements, they have to inform their clients about these. They cannot hold out for expensive products that earn them sales commissions. Before hiring an RIA, it is advisable to research them on FINRA’s BrokerCheck and find out if any clients have lodged any complaints against them.
Cryptoassets
Cryptoassets are digital assets that use cryptography and block technology. Some cryptoassets are cryptocurrencies and are usable as regular currency. You can buy goods and services with cryptocurrencies and also use them in lending and borrowing transactions. However, all cryptoassets are not cryptocurrencies. Some are available as tokens that investors can hoard for future profits. It is essential to keep in mind that cryptoassets can undergo wild price fluctuations, and there is no guarantee that even the top ones will remain profitable in the future. If you are going to invest in them, you need to be prepared to take the risk.