£400k Portfolio DIY vs. Professional Help

ExremelyCautiousSocialist

aroominyork wrote: »

Indeed, “... the Boston-based firm announced it would offer a range of crypto products designed for large investors like hedge funds.” So that’s what you are recommending to the OP?

I already posted my recommendation (small % with considering dollar cost average over 2019 + traditional investment for the bulk - which other people ITT already helping with.)



The point about fidelity was about validation.

OpalMiner11

ExremelyCautiousSocialist wrote: »

I already posted my recommendation (small % with considering dollar cost average over 2019 + traditional investment for the bulk - which other people ITT already helping with.)



The point about fidelity was about validation.

Thank-you for the input I appreciate it - it may be good for a tiny part of my portfolio once the main part is organised.

aroominyork

OpalMiner11 wrote: »

Thank-you for the input I appreciate it - it may be good for a tiny part of my portfolio once the main part is organised.

If you do buy bitcoin, be very clear in your mind whether you are doing it as a serious investment or for a bit of fun.

PS In post #3, the cautious socialist called bitcoin a "speculation", so are you speculating or investing?

OpalMiner11

aroominyork wrote: »

If you do buy bitcoin, be very clear in your mind whether you are doing it as a serious investment or for a bit of fun.

PS In post #3, the cautious socialist called bitcoin a "speculation", so are you speculating or investing?

Thanks it would only ever be speculative fun, and I definitely have bigger problems to face it seems regarding the taxation and CGT implications!

Could someone please expand a little on the offshore bonds dunstonh mentioned?

badger09

OP

If you really have a £400k portfolio, then why on earth don't you spend a very small portion of it on getting expert tax & financial advice which could save you £000s

There will be lots of firms offering such advice, many of which should be avoided. I'd suggest you first ask your contacts for personal recommendations, then check here

https://www.tpb.gov.au/finding-and-using-tax-practitioner

bostonerimus

ExremelyCautiousSocialist wrote: »

Fidelity Investments is targeting a March launch date for its Bitcoin custody service, according to three people with knowledge of the matter, as the mutual-fund giant moves forward with a plan that could help ease fears of trading cryptocurrencies.


Fidelity, among the largest providers of retirement savings and mutual funds, is hoping it can leverage its famous name and win over institutional customers keen on digital currency trading. The company already works with more than 13,000 financial institutions.


https://www.bloomberg.com/news/articles/2019-01-29/fidelity-is-said-to-plan-march-launch-of-bitcoin-custody-service

Fidelity also has high yield bond funds and some esoteric stock funds that I would never buy. Just because theres a fund for it doesn't mean that it should be part of your portfolio. Fidelity is motivated by having another fund that it can get fees from, not necessarily the quality of the investment.

DrSyn

ExremelyCautiousSocialist wrote: »

1. There is a level of irrational bias.

2.Some IFAs would speculate on all kinds of high risk stuff they wont endorse to clients unless pushed.

Are these just an opinions, or do you have any hard evidence?