Jake Claver, of Digital Ascension Group joins Mike Langford for an exploration of the growing importance of digital assets in wealth management.

They discuss the concept of 'digital lottery winners'—clients who have gained significant wealth through cryptocurrencies—and the necessity for financial advisors to adapt to this new landscape. Jake also dispels a few common myths that financial advisors may have about who is investing in crypto and digital assets.

The conversation also touches on the risks associated with holding digital assets and the future of regulation in the crypto space. The conversation highlights the opportunities for financial advisors to engage clients in discussions about digital assets, the potential impact of regulation on the market, and predictions for the future of transactions in a digital economy.

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Key Takeaways From This Episode

Digital assets are becoming a significant part of wealth management.
Advisors must adapt to the growing presence of crypto in client portfolios.
Institutional custody provides security and insurance for digital assets.
Many clients are unaware of the risks associated with holding crypto.
The average client at Digital Ascension Group has substantial digital assets.
Regulation in the crypto space is on the horizon.
Younger generations are more interested in digital assets.
Advisors can offer IRA options for investing in crypto.
The market for digital assets is currently speculative.
Understanding client needs in digital assets is crucial for advisors. Institutional custody in crypto is largely unknown to the public.
Digital lottery winners are seeking strategic financial advice.
Clients often hold assets with potential for significant appreciation.
Financial advisors need to take digital assets seriously.
Engaged clients are more likely to be satisfied with their advisors.
The future of financial products will be heavily influenced by blockchain technology.
Regulation will play a crucial role in the evolution of crypto markets.
Market predictions indicate potential volatility in the near future.
The US dollar remains a central figure in the digital economy.
Transaction volumes are expected to increase as digital assets gain traction.

Resources Mentioned In This Episode:

Digital Ascension Group - A multi-family office specializing in serving clients with significant digital asset holdings.
Digital Wealth Partners - An RIA that works with individual clients and other RIAs to manage and advise on digital assets and alternative investments.
Jake Claver on YouTube -Jake has a robust YouTube following. As he mentioned during the show , he hosts a livestream every Monday and Wednesday evening.

Chapters

00:00 Introduction to Digital Assets and Wealth Management

03:01 Understanding Digital Ascension Group's Services

07:59 The Rise of Digital Lottery Winners

09:23 The Importance of Advisors in the Crypto Space

15:32 Institutional Custody Explained

22:10 The Risks of Holding Digital Assets

24:37 Understanding Institutional Custody in Crypto

25:57 The Profile of Digital Lottery Winners

28:00 The Role of Financial Advisors in Crypto

30:29 Opportunities for Financial Advisors

32:27 Engaging Clients with New Asset Classes

34:15 The Future of Financial Products on Blockchain

36:29 The Impact of Regulation on Crypto

40:28 Market Predictions and Economic Insights

45:19 The Future of Transactions in a Digital Economy