What You Need to Know
- The Onramp Invest platform will go live in the first three days of the online Consensus 2021 conference in May.
- Initial partnerships include WisdomTree and the FPA, Onramp CEO Tyrone Ross says.
- Onramp wants to be an all-in-one solution providing RIAs with every tool they need to deal with crypto.
The Onramp Invest alternative investment platform geared to RIAs will start a beta test this month and then go live at the online Consensus 2021 conference to be held May 24-27, Tyrone Ross, the company’s CEO, said in a Twitter video presentation on Thursday.
“Pretty big names” among RIA firms will be included in the group of five to 10 companies taking part in the beta test, he told ThinkAdvisor on Friday, adding that he expects it to start in mid-April.
The platform will then go live for more RIAs on one of the first three days of Consensus, he said. Initial RIAs taking part in the beta and full launch will be selected from a waiting list, he said.
Ross had told ThinkAdvisor in March that Onramp would likely debut in May.
At the Twitter event, he said Onramp was in talks with several companies to partner with his platform, including WisdomTree.
“Onramp will have a major announcement” when it goes live and is lining up “some monster announcements” during Consensus, he said.
“We will be providing content with WisdomTree for financial advisors” and are also “having discussions with WisdomTree now to build out some model portfolios for financial advisors with some really cool allocations with Bitcoin and Ether,” the native cryptocurrency of the Ethereum open-source blockchain, he said.
“We are working closely with them to get this done within the next month or so,” he said.
WisdomTree did not immediately respond to a request for comment Friday.
More Partnership Details
Onramp is also partnering with the Financial Planning Association to provide content and education for financial advisors, Ross said.
FPA spokesman Ben Lewis confirmed that on Friday, telling ThinkAdvisor: “Tyrone is working with us this year on our Annual Trends in Investing survey that will come out in June. He is providing expert input on the crypto data we are collecting. Tyrone is also speaking at our annual NexGen Gathering event later in the summer on a different topic.”
Onramp will also create advisor content with CF Benchmarks, Ross said on Thursday. RIAs need real-time data available “right from your existing workflow” and “we’re working on that,” he said.
Onramp is also in talks with a portfolio management provider, a CRM provider and a financial planning software provider, Ross said, identifying them only as three “big ones.”