DIGITAL ASSET ADVISORS (DAA)
The Full Story
Richard Benkert is an entrepreneur who has started and runs two companies.
After graduating from college with an undergraduate degree in Business-Finance, he then earned his MBA in a year. His ambition was to become an international corporate lawyer. Richard then started law school about 2 weeks after graduating with his MBA. He will tell you that the most valuable lesson he learned in law school was that he did not want to be a lawyer.
Upon returning home to St. Louis in the midst of the recession of 1981-82, Richard eventually attained a job with a new financial planning firm. At the time Financial Planning was just coming into vogue as a new way of working with clients. It was there that he was introduced to the career of a “Financial Product Wholesaler”. These people are like a manufacturer’s representative, who market their employer’s products to Financial Advisors, to teach them about the product and help them integrate it into their practice with their clients.
Richard developed a great admiration for these people and their high level of professionalism such that, when the opportunity availed itself to start his own search/placement firm to recruit these types of individuals on behalf of the firms that hire them, he jumped on the opportunity and started Planners Advisory, Inc. in 1988 and still manages that company today.
With 35 years of experience in the financial services industry, when the advent of blockchain technology came along, it intrigued him as its introduction seemed very similar to the introduction of the internet back in the 1990s, which he remembers well. He began to explore Bitcoin and learned a lot about it and its application on the blockchain. As he learned more he began purchasing shares of a Bitcoin (BTC) in 2017, followed by Ethereum (ETH) and well over 60 other digital currencies to date.
As this progressed, more and more new companies started introducing applications to run on the blockchain, using the BTC or ETH blockchain or platform on which to operate their application and the related service of their company. In many cases this also included their own proprietary digital currency as both the underlying resource with which to use their application on the blockchain, as well as the representation of ownership for participation in the growth of the company, similar to stock for a public company.
This led Richard to investigate these companies as to the potential for participating in the growth of them and how to do that, because he knows some of those companies who early-on introduced applications that ran on the internet in the 1990s went on to become some of the largest companies in the world today (e.g.- Apple, Microsoft, Google, Amazon, Paypal, Netscape, Cisco, etc.).
Those who purchased stock in these companies and held that stock experienced life-changing wealth as a result of the growth in the value of that stock over years. He also found that some of the stories of these companies today are amazingly similar to those companies of the 1990s. His conclusion is that a pattern of progressive growth could happen with some of these companies today that are introducing applications to run on the blockchain, with the ability to purchase their coins (read: stock) for “pennies on the dollar” in many cases today.
With that concept in mind, Richard formed Digital Asset Advisors to learn more about these companies and help others to also do what he has done, but to avoid the mistakes he experienced in growing his learning curve since 2017. The objective is to help others acquire and manage such a personal collection of digital currencies for exceptional growth opportunities in the underlying coins (read: stocks) of these companies, and earn income on many of them similar to a bond interest payment (called "staking"), all the while experiencing what many enjoyed by owning stock early on in the aforementioned companies.