Stocks and shares ISA all with one provider

Eco_Miser

wmb194 said:

GeoffTF said:

wmb194 said:

GeoffTF said:

With iWeb, your investments are pooled with the other Halifax Share Dealing Limited (HSDL) brands: Lloyds, Halifax and Bank of Scotland. HSDL is wholly owned by Lloyds Banking Group (LBG). I do not believe you need to worry about HSDL going bust. It would be very damaging for LBG if its customers lost money as a result. Confidence is everything in banking. LBG would almost certainly bail HSDL out. As masonic, has said, even if it did not, the FSCS should pick up the tab for the administrator's fees.

And if LBG found itself in real trouble the government would prop it up in one way or another.

Even if the government did not prop up LBG (which is very unlikely), it should not matter. HSDL is a separate profitable company and your investments are ring fenced. Multiple very unlikely failures would be needed before any of us loses money.

Right, but your scenario was LBG propping up HSDL. I'm just going another step up the chain and saying I wouldn't worry about LBG not being in a position to do that. A lot would have to go wrong for HSDL to have any serious issues let alone the assets for which it's the custodian.

And if all that happened, the other banks would be queuing up to take over HDSL, and their customers and  assets under management.

dunstonh

moneysaver9099 said:

I have a cash ISA and a S&S ISA with the same provider. As I'm below the FSCS I don't think it's a problem at all.

Cash comes under the FSCS deposits scheme.   Investments come under the inevestments FSCS scheme (or insurance if you are using insured funds)