Alternative to Vanguard please

Hi,

I have an ISA with Vanguard (invested in their Lifestrategy 80% and 100% equity funds). I am concerned about going over the £85,000 fscs protection limit so I am considering using a different platform to start an additional ISA - I'd look to invest in the Vanguard funds or something similar again as I am happy with their perfomance. So, can anyone recommend a reliable, reasonably priced provider that fits the bill please?

Thank you,

Ben.


Replies

  • edited 5 August 2022 at 11:46AM
    dunstonhdunstonh Forumite
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    edited 5 August 2022 at 11:46AM
    I am concerned about going over the £85,000 fscs protection limit 
    Why?    I suspect you don't realise the difference between deposit protection and investment protection and that may be the problem here.

     am considering using a different platform to start an additional ISA - I'd look to invest in the Vanguard funds or something similar again as I am happy with their perfomance.
    By doing that you will barely improve your FSCS protection as it's £85k per fund house. 

    So, can anyone recommend a reliable, reasonably priced provider that fits the bill please?
    I would suggest you read up on the FSCS protection first because you will probably conclude that its largely unnecessary for unit-linked investments.   However, you could improve things a little by 
    1 - Invest in funds from more than one fund house
    2 - if using a single multi-asset fund of funds, then use an unfettered fund rather than a fettered fund.

    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • AlbermarleAlbermarle Forumite
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    Remember Vanguard is not a bank, lending money to people that might not pay it back. The chance of them going bust is miniscule, and would probably mean World war 3 had just happened, so you would not care.

    Many people hold several hundreds of thousands of Pounds ( and Millions in some cases) with one platform, including Vanguard amongst many others .
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