More than one investment account?

[Bedknobbroomsticks]

Hi there, what's the general advice on whether it's better to spread investments across different platforms or whether to hold everything in the same fund? I have some ISA money invested in the Vanguard Lifestyle Strategy. I now have some additional savings I can put in and I wonder whether it's better to avoid the eggs all in one basket or whether to put it in together? Would appreciate any advice/experience that Mumsnetters have on this.

Thanks!

I avoid complicating things so have just one S&S ISA. I have other accounts for short term cash savings, so not in an ISA wrapper. I have pensions as well (so another type of wrapper).

You need to keep within ISA rules, so you can't pay in to multiple ISA's of the same type in the same tax year. So you could not have a S&S ISA with Vanguard Investor and a S&S ISA with AJ Bell and be paying in to both of them in the same tax year.

I think you're muddling two things here - platforms and funds.

Platforms are the vehicle through which you can invest in funds. If the platform went bust, I believe the monies you had invested through it would still be safe, although it may take time to get back/ organise into a new platform? No real point in using multiple platforms for similar things as you may end up paying double fixed fees.

The diversification thing is more important for what your money is invested in i.e. stocks/shares/funds etc. However the Vanguard Lifestyle Strategy you mention is already in itself diversified as a 'fund of funds'.

I also invest in Vanguard Funds regularly for my pension, but I 'diversify' into more risky and 'interesting' funds in my ISA.

Thanks. This is helpful. Yes, I meant separate funds and diversifying :) For context, my savings are from an old SS ISA that i had been paying an IFA an annual fee to manage and the returns have been pretty dire. So I'd like to stop this and transfer this old ISA balance elsewhere which I believe I'm allowed to do. I worry that if I add it to my existing Vanguard ISA, then if this dives, it all dives as my money is in one fund. I'm not an active or experienced investor as you can tell but trying to learn.

You can have more than one fund on the Vanguard platform.
Personally I use a LifeStrategy fund which is a Fund of Funds, so contains 10 funds. That is my core and I have a satellite investment in an emerging markets fund (makes up about 0.85% of my portfolio).

The Woodford Equity Income fund situation shows what can happen with a fund but I'm not overly concerned about that happening with a Vanguard fund. The underlying assets in vast majority of the funds are stocks, bonds, gilts, so are more liquid than illiquid assets like property. Am I right to think that liquidity is not likely to be an issue?

Similar question.
I have a Vanguard lifestyle SIPP pension should I set up aVanguard Isa and select Vanguard lifestyle 80/20 again or is there an argument to set up a stocks and shares isa on a different platform?

£40 initial investment. (20k this tax year before 5.4.21 and 20k next tax year 6.4.21).
20k per annum thereafter.
Thoughts please?

If you have both on the same platform you save by having fees capped at a certain point.
If the platform ceases trading then it could be a problem for a while but consider the risk of that.

@nannynick
Thank you I am comfortable with vanguard. I am using the Trustnet app to study performance.