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Best technology to use that LPL has?
I met someone and their son is a director at Morgan Stanley. He told me to give him a call and potential have a talk about working there . How are Morgan Stanley advisors compensated. I ask because I left another firm and they have tried to charge me charge backs on commissions that have come back.
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I had a lot of younger clients asking me about it so I started researching it to converse intelligently. Now, surprisingly, older clients are asking too. As with any speculative investment, I still tell them not to put in more than they are willing to lose. Behind the curtain though, after extensive research, I have put in about 8% of my net worth in to ethereum and 2% into bitcoin with a 5 year hold. I don't think it's my ticket to the moon as many young "investors" are hoping, but as a small part of a well diversified portfolio I don't think it's going to make me me poor. I believe the technology of the ethereum blockchain platform is already changing the future of the internet drastically though it's still in toddler form. It's actually so much more than bitcoin (I.e. currency/form of payment) To help you to understand....Google 2 things: 1) "Goldman Sachs blockchain" to understand the the technology of block chain - http://www.goldmansachs.com/our-thinking/pages/blockchain/ And 2) "ethereum alliance". The caliber of companies that are implementing/collaborating with the ethereum technology implies a compelling argument for mainstream adoption. https://entethalliance.org/members/ Even still - I don't recommend it to clients. When breaking down safe, aggressive, and home run sections, I don't mind if they own some as a piece of a piece of their "home run dollars" of their overall strategy.
Illicit? Heard cash is used for illicit activities. That's not illegal now is it?
I have friends who mine, peronsally own a minuscule amount - I've done a fair bit of reading on it. Believe in it? Yes - at some point in the next 10 years, some form of crypotocurrency will be a proliferate as online payment technology is today. Which currency and at what valuation? No idea...
It's crazy people invest in something that supports illicit activities. I never recommend. A stock is safer
I have done some reading on Bitcoin and even watched a documentary on it on Netflix called "Banking on Bitcoin" that you might want to watch. I can't speak to the validation of the film, but I found it helpful. I have a IT client who is very interested in it and we have discussed bitcoin, litecoin, bitcoin cash, and others. Those who believe in it think it is the next gold standard because there is a finite amount of coins, approximately 21 million. They think this will be the currency of the future by giving everyone the ability to use the same system. The creator who designed the coin did it to eliminate the middle man, aka banks, in funds being exchanged between people. Whether Bitcoin becomes the new standard is hard to say and it would most likely depend on government involvement on how to regulate it. Until that takes place though across the world or at least the majority of countries I don't see how it gains permanent traction, but some already have accepted it. I know this was long but I hoped it helped.
Thanks all this is very helpful!
I've read and read and read and read some more about this. I've had a handful of clients ask about it. Incredibly interesting and complex. I think electronic payment is the future. But it's getting out of hand.Too speculative to offer to clients imo.
Curious for feedback after checking out those sites.... anyone have thoughts?
Big fan. Wish I could recommend it.
It will never reach full potential without large firms adopting it. If you could pay for items on Amazon with a crypto-currency, then it would truly be a paradigm shift, but until then it is speculative. The issue lies in regulation, and all large companies are on the sidelines about it until the governments give it some credence. You're far me likely to see Alibaba or Etsy accept it before Amazon, but even they are still on the fence about it. Morgan Stanley put out a great review that breaks down the risk/reward of Bitcoin as an investment.
It is coming in it current version or a derivative of its current form. It is highly speculative and extremely unstable and volatile. I recommend education on the subject and learning what is likely to come to us in some form down the road. Big banks are starting to look into this is a viable currency and even starting to show interest in investing in it. I only dabble with what I have conceded I could lose 100% of my investment.
"Caveat Emptor"