Investment platforms - one or many?

MarkBargain

I invest in multiple funds but all through the Charles Stanley Direct platform. Do other investors stick to one platform, or use several? Should the risk be spread around i.e. by using multiple platforms? That seems a sensible idea for me in case of the small risk of one running into financial trouble or an account getting hacked.

Would a shares-based investment fund ISA be protected to £85K in the same way a back account is?

What investment platforms do investors recommend?

dunstonh

The whole point of a platform is to consolidate your tax wrappers/holdings in one place of administration.

Would a shares-based investment fund ISA be protected to £85K in the same way a back account is?

No. The deposit protection scheme refers to deposits. not investments. Investments have their own version although its largely irrelevant for regulated mainstream unit linked investments.

lejog2003

I hold my pension fund on a platform, while my investments are held on a different platform.

This is mainly because this works out cheaper for me (the pension fund is large and best held in a flat fee platform, while the investments are cheaper in a percentage fee platform), but it adds a little diversity.