How secure are Platforms?

JJforever

I am considering consolidating all my funds onto one platform but have read that if they go bust then you are only covered for 50K. Therefore do you think it is a risk and should you treat the platforms like banks i.e spread your money?

I was actually looking at Bestinvest but was wondering how financially secure they are. Does anyone know anything about their finances i.e who backs them financially? Where can I find out about this?

I always thought the banks were secure but then 2008 happened so would hate to make an expensive mistake.

Any advice would be appreciated.

Not sure if this has already been discussed so apologies if it has.

Thanks

JohnRo

https://forums.moneysavingexpert.com/discussion/4930861