How many baskets do you put your eggs in?

redmalc

Should I be worried having 600K in Old Mutual or should I spread it around

ChilliBob

Albermarle said:

ChilliBob said:

At what point do people think you should diversity platforms? Size wise that is, not due to investment options. 

From what you can read on here it seems to be less of a monetary figure and more that people with larger pots seem to just have two or three on the go regardless of the actual size. Often it is probably a legacy issue that they have a current workplace pension , a previous workplace pension moved to a SIPP maybe and S&S ISA with someone else. Or they keep funds with one provider and ETF's IT's etc with another, due to the charging structures. I do not think that many people deliberately split up pots with multiple providers , it just kind if happens over time . When it comes to drawdown etc the advice is not to have too many pots as it complicates things too much , tax for one thing and , often people will consolidate at that point.

Thanks. I'm not 100% sure I follow... I have a. Iweb account at the moment, with an ISA in it I'll probably do a Fidelity ISA for my partner for ETFs and then I'll need somewhere for a GIA. Perhaps one on iweb and one on Interactive investor. 

I was under the impression if I needed to raise funds, assuming all my investments were pretty liquid it'd just be a case of selling, waiting a few days for the cash and then having to declare a (hopefully) gain for cgt purposes on tax return, and then either pay tax or not depending on the ££ involved.

Are you suggesting that's wrong and I need to think how I'd consolidate somehow before pulling something out? 

agent69

Thanks for the feedback. I guess I'll just keep topping up the Vanguard account as and when funds become available.

badger09

ChilliBob said:

Albermarle said:

ChilliBob said:

At what point do people think you should diversity platforms? Size wise that is, not due to investment options. 

From what you can read on here it seems to be less of a monetary figure and more that people with larger pots seem to just have two or three on the go regardless of the actual size. Often it is probably a legacy issue that they have a current workplace pension , a previous workplace pension moved to a SIPP maybe and S&S ISA with someone else. Or they keep funds with one provider and ETF's IT's etc with another, due to the charging structures. I do not think that many people deliberately split up pots with multiple providers , it just kind if happens over time . When it comes to drawdown etc the advice is not to have too many pots as it complicates things too much , tax for one thing and , often people will consolidate at that point.

Thanks. I'm not 100% sure I follow... I have a. Iweb account at the moment, with an ISA in it I'll probably do a Fidelity ISA for my partner for ETFs and then I'll need somewhere for a GIA. Perhaps one on iweb and one on Interactive investor. 

I was under the impression if I needed to raise funds, assuming all my investments were pretty liquid it'd just be a case of selling, waiting a few days for the cash and then having to declare a (hopefully) gain for cgt purposes on tax return, and then either pay tax or not depending on the ££ involved.

Are you suggesting that's wrong and I need to think how I'd consolidate somehow before pulling something out? 

Albermarle's comment about consolidation of pots, was in the context of drawdown from SIPPs. Meaning, it is probably easier to drawdown from a single consolidated SIPP, than from multiple separate SIPPs

ChilliBob

Ah I see. I've not got to my pension just yet and moving it over to a sipp (probably), it's on the list but not at the top