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.