When savings - including ISAs - hit £85,000....

Albermarle

WindfallWendy said:

Crikey - thanks everyone for all these views. I'm glad I asked the not-quite-so-silly question now!!!

MM = money market?

I hadn't worked through the fact S&S ISA is actually based on shares rather than cash. What a wally 🤷

I'm with Vanguard but I might still set up an ISA with a different S&S just to spread different types of risk. I assume different providers have different portfolios, so it seems vaguely sensible ....??

You can invest in many things apart from just shares in a S&S ISA. 
Funds, ETF's, Investments Trusts etc but essentially they are all investments in the financial markets.

The level of risk in investing comes from the actual investments, not from the S&S provider.

For example you can have a S&S ISA with Vanguard with an investment in the fund of Vanguard Lifestrategy 60.

Or you could have a S&S ISA with Hargreaves Lansdown with an investment in the same fund of VLS60

The risk level is identical in both cases

Of course with a provider like HL,  you get a much bigger choice of investments, not just Vanguard ones. However if you pick something similar to VLS 60, the risk level stays broadly similar.

Only by choosing higher or lower risk investments, ( within a  Vanguard ISA or elsewhere) do you change the level of risk. 

WindfallWendy

I'm coming back to this thread as I wanted to test with others whether my current platform is right and what other comparable ones are. 

I'm currently in a position to put £20k into and ISA every year for the next 3 or 4 years. So changes with Vanguard seemed to be better for me, than my husband (who puts a bit in every month and no more than £8k/year).

But I haven't really thought about this for a while and wondered what others in my situation do, and why.

Hope this is ok to ask.

InvesterJones

WindfallWendy said:

I'm coming back to this thread as I wanted to test with others whether my current platform is right and what other comparable ones are. 

I'm currently in a position to put £20k into and ISA every year for the next 3 or 4 years. So changes with Vanguard seemed to be better for me, than my husband (who puts a bit in every month and no more than £8k/year).

But I haven't really thought about this for a while and wondered what others in my situation do, and why.

Hope this is ok to ask.

Once you are above £32k I think then Vanguard is one of the cheaper platforms for regular investing in OEICs (funds). Other platforms match them and are better for lesser amounts (e.g. Dodl) or for lump sums (iWeb) or for ETFs rather than OEICs (T212, InvestEngine). When iWeb eventually become Scottish Widows they might be an even better option as they are promising free regular investment and no platform fee, for both OEICs and ETFs, but let's see.

eskbanker

WindfallWendy said:

I'm coming back to this thread...

Although the dialogue now seems to be more about investing, it's perhaps worth highlighting that the £85K savings protection in the thread title is no longer relevant - there was mention in an earlier post of a proposal to increase the FSCS limit to £110K but as of yesterday it's now actually £120K:

https://www.fscs.org.uk/what-we-cover/banks-building-societies-credit-unions/deposit-limit-increase/