LPL’s Blockchain Portfolio: Forward Thinking or Foolish?
June 18, 2018 By Janet Levaux, ThinkAdvisor The independent broker-dealer's move is being hotly debated by industry players and observers. LPL Financial moved Friday to be the first independent broker-dealer to offer a blockchain portfolio. But is such a step the right way to go? Blockchain is a digital ledger system that can be used to record transactions in cryptocurrencies like Bitcoin or Ether. The technology has other potential uses, like records management or smart contracts. Holdings in the portfolio include SAP, IBM, Microsoft, UPS and Aetna. LPL’s separately managed account offering is a “new strategy [that] can further help our advisors differentiate their practices in the marketplace,” said Chief Investment Officer Burt White, in a statement. The IBD’s announcement came one day after a top Securities and Exchange Commission official said that the cryptocurrency Ether...