Ok to have over 85k in stocks shares ISA platform?

[ThanksforallthePish]

Does it matter if I have over 85k in one stocks and shares ISA platform, and in an investment account with same platform? (Think nutmeg, wealthify, vanguard etc). In terms of FSCS back up.

Are there any advantages to using one or multiple platforms?

In the absence of other replies, I think FSCS protect cash, and in a S&S ISA the assets are still yours, not Vanguard/Nutmegs etc.
So they can't actually be lost...... bit like the utility companies going bust, everything just gets transfered.
Be interested if anyone has a better idea tho.

I agree with the above.

The £85k guarantee from a bank is if they go bust, you will get up to £85k back (if you had that or more in an account).

Banks have been known to lend more than they have in deposit, so in the event of a run on the bank, without that guarantee, you could not get back when you had deposited with the bank.

In a S&S ISA, you would still own the underlying investments, should the platform go 'bust'. The actual share holdings can of course loose their value, so if you invested everything in shares from one company you would be quite exposed to risk.

The whole point of these platforms is to provide a range of assets to spread the risk.

HTH

As others have said, if you aren't holding it in cash the risk is limited because you own the assets and the platform doesn't owe you the money.

Therefore, the risk is one of fraud not the company going bust. If the platform was a Madoff style scam and they didn't actually buy the assets in your account, just stole the money and sent fake statements, I believe you'd only be covered up to £85k.

Seems unlikely that would happen for the likes of vanguard but not impossible.