Standard Custody & Trust Company, a NYDFS chartered company providing institutional-grade custody, escrow, and settlement services for digital assets, announced a groundbreaking partnership with L1 Advisors, a pioneering onchain wealth management platform for financial advisors and their clients.
This partnership signifies an industry-first product offering for registered investment advisors, wealth managers, and family offices.
The collaboration ushers in a new era of digital asset management, providing financial advisors with a hybrid approach to digital asset custody, management, and advisory for the first time. This innovative approach combines the security and convenience of qualified custody with the portability and self-sovereignty of self-custody.
The newly bundled product offering enables advisors to offer both discretionary and non-discretionary advice, facilitating a more personalized approach to digital asset advisory. That’s the case for Nick Rygiel, the owner and Financial Advisor at Ironclad Financial, who started using both platforms in his practice. “I'm excited to leverage the L1 Advisors and Standard Custody product integration. This innovative alliance lets us offer a unique hybrid service that transforms how our clients manage their digital wealth."
Through the L1 platform, advisors can now monitor assets in qualified custody or in clients' self-custodied wallets, granting unprecedented access to a broader view of client portfolios. This adaptability ensures that the advisory services can be tailored to suit operational and compliance needs, creating a unique edge for advisors in the emerging landscape of digital assets.
Jack McDonald, CEO of PolySign, the parent company of Standard Custody & Trust, acknowledged the strategic importance of this partnership: “L1 Advisors has solved an important challenge within the wealth management space, and we are proud to be partnering with them to help bring a more robust solution to the market via our next-generation digital asset regulated custodian. Standard Custody’s conflict-free model perfectly aligns with the ethos of private wealth, and our combined offering gives clients the most secure, qualified custodial services they deserve.”
Echoing the same sentiment, Miguel Kudry, CEO of L1 Advisors, expressed his enthusiasm about the partnership: "This seamless blend of qualified custody and self-custody is an industry first and gives advisors and their clients the assurance they have been looking for so long to advise on digital assets. The future of onchain wealth management is a hybrid of self-custody and qualified custody, and we are excited to partner with Standard Custody to make that vision a reality."
This collaboration signals a milestone in the evolution of digital assets management and advisory, and both Standard Custody and L1 Advisors look forward to shaping the future of wealth management.