Cannon Financial Institute is launching a new online course designed to educate financial advisors on blockchain and digital assets, in a new sign that it sees financial professionals rapidly changing their views on the once-contentious topic.
The course will be tailored to financial professionals, including advisors, trust professionals, compliance officers, regulators, and examiners dealing with digital assets. It includes insights, basic comprehension, and fluent discussion on blockchain technology and digital assets. Cannon emphasizes that its course is offered in an “impartial and unbiased perspective,” and does not “endorse or promote any emerging or disruptive financial companies or technologies.”
The five main sections of the course include “Why Blockchain and Digital Assets Matter,” “Overview of Blockchain,” “Overview of Digital Assets,” “Core Concepts of Blockchain and Digital Assets,” and “Myths and Misnomers.”
Four instructors, including Phil Buchanan, executive chairman of Cannon, and Dr. Chris Nekvinda, director of digital assets, will deliver the course. In a statement, Buchanan says his goal “is to instill confident competence in each financial professional, not only in the technical aspects of their business but in sales and service to their clients.”
Other instructors include Brad Shepard and Shelli Keagle. Shepard currently serves on multiple boards related to technology and wealth management, while Keagle is the founder and executive director of Canvas SRI, LLC, a strategy, research, and insights firm.
According to Cannon, the course is projected to take nearly five and a half hours to complete and concludes with an assessment. Financial advisors can claim continuing education credit towards related certifications, including Certified Wealth Strategist (CWS), Certified Financial Planner (CFP), Certified Trust and Fiduciary Advisor (CTFA), Certified Trust Operations Professional (CTOP), and Certified Retirement Plan Professional (CRPP).
Renewed sentiments on crypto?
The new course comes at the heels of recent developments in the digital asset space. Just last week, the Securities and Exchange Commission (SEC) accused cryptocurrency exchanges Binance and Coinbase of offering unregistered securities and failing to register as an exchange or broker-dealer. Prior to the allegations, the SEC proposed tougher custody rules on assets including cryptocurrency in Match.
Currently, close to 21% of American adults own some form of digital asset, despite experiencing a rocky period in 2022 following the fallout of crypto exchange platform FTX.
That hasn’t stopped other platforms, and even proposed legislation, from supporting the digital asset, however. In February, Sen. Tommy Tuberville (R-AL) reintroduced the Financial Freedom Act, which would allow workplace retirement plans to invest in cryptocurrencies.
Later in March, 401(k) provider ForUsAll announced it would be offering 401(k) crypto investments through CoinDesk, Inc. indices to participants.
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