In the DAO
Highlights
Crypto is the future!
I really dislike statements like this. They are the kind of vague declarations that turn most people off.
If I read that statement, I would want to know why it’s the future, and what does that even mean?
In fact, I did ask those questions several years ago. I spent months learning how crypto, blockchain, and decentralized finance worked.
The answers I got reminded me so much of the beginning of the World Wide Web ( I was in college when that really go going), which led to the growth of The Internet.
But now I had context!
I had years of experience as a financial advisor and entrepreneur, so I could see where the technology, and the system fit within the current traditional financial system.
I also had a good understanding of the inefficiencies in the finance and economic systems, so i could really see where this new technology fit.
I was sitting where you are now!
But at the time, there was no formalized education for me, the financial professional. Nor was there any real way to prove my knowledge, short of yammering on about crypto to EVERYONE (they all got tired of hearing it).
So…we did what had to be done.
We designed crypto education courses specifically for you, the financial professionals. We packed it with the technology you need to choose your business models and partners, as well as the theses and theories you need to answer client questions.
But we needed a bit more for financial professionals, since your clients and employers need to know they can trust you.
So we built the Certified Digital Asset Advisor (CDAA) certification and designation. The things you need to know to add crypto to your practice.
Like most important designations, it’s managed by an independent organization - in this case, that organization is called PlannerDAO.
We have approved partners all over the world who teach crypto specifically for professionals, and they can add information about regional regulations, compliance, and tech partners.
The steps to receive this designation are simple:
Complete a course from one of the approved education partners.
Complete the challenges and exam - you get to prove your knowledge
Pay for your annual membership in PlannerDAO and receive your certificate (Its an NFT…we’ll get to that later)
Now you’re likely making the ROI calculation. “Is it worth my time and money to learn crypto, and be able to prove my knowledge to clients?”
Well…remember…Crypto is the Future!
It will affect our business drastically, just like that World Wide Web thing affected retail, communication, logistics. How much is it worth to you to start building your practice with the future in mind?
Click here to learn about some of the education partners and their courses.
P.S. There will be a time in a few years when crypto is no longer the future. It will just be finance.
Crossroads 2023
Some important details:
Dates: April 24th - 26th, with a Welcome Reception Sunday evening and two full days of speakers and content
Location: Chase Park Plaza Hotel, St. Louis, MO
Tickets: On Sale for $175 for the first 100 attendees - get them while you can!
Conversations to Check Out
Multis: How PlannerDAO pays for their daily operations with Crypto
Multis did an excellent case study on how PlannerDAO utilizes its services for banking and accounting.
They have been fantastic if you are looking for a hybrid self-custodial/banking solution for your clients…
Join the conversation in the DAO
CFP® Crypto Requirements
"A CFP® professional must be competent to provide Financial Advice about cryptocurrency-related assets and must consider the particular attributes and heightened risks that these assets present when providing Financial Advice about cryptocurrency-related assets".
Continued validation of the need for crypto focused certifications like the CDAA.
Join the conversation in the DAO
Member Spotlight: Crypto Conversations
Check out the conversations PlannerDAO members are having with their clients about crypto.
Ryan Firth is the founder of Mercer Street Company. He is a financial planner and crypto consultant.
Crypto Conversations with Ryan:
Do you actively manage crypto for your clients?
“No. I believe clients are better served managing their own assets, including crypto, with guidance from an advisor.”
Have clients brought up crypto to you recently? What are their concerns?
“I can't think of any meaningful conversations that I've had with clients about crypto, other than speculating on what's the next domino to fall (e.g., is DCG or Binance in dire straits?). I have been getting inbound calls from folks who've been defrauded of their crypto/money in what's called a Pig Butchering scheme; it's quite sad.”
What was your most recent client conversation around crypto?
“Tax-loss harvesting NFTs before the end of 2022 to offset capital gains from the anticipated sale of a business in 2023.”
Have you pitched crypto recently to a client and how did that go?
“I don't advocate that clients buy single positions or alternative assets unless they indicate to me that they have holdings or they're interested in buying these types of assets. Not all of the folks that I work with are into crypto, so I don't bring it up unless they bring it up.”
What tools are you using and have you tried any new software lately?
“Of late, I've been doing tax and estate planning with FP Alpha. I don't use software very often because I find that I don't really need it in my practice.”