Alternative to Vanguard please 5 August 2022 at 10:13AM in ISAs & tax-free savings 2 replies 214 views

Benswindon01

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.

dunstonh

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.

Albermarle

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 .