How do you actually save long term if you are only protected up to £85000. If you would split it
up to different companies you wouldn't benefit from compound growth and you can't just find
a huge number of companies that offer the same investment types.
I was now looking into how money is protected with Vanguard but can't find anything on the FSCS website, only a similarly named company that went out of business in 2017. The entry on the
FCA site is very vague and only just confirmes that they are registered.
Maybe I got this wrong but I imagined you would have to sell some shares and move the money somewhere else and as a result reducing the potential future growth of that pot. I don't think
you will be able to buy the same kind of product from another platform throughout the decades.
How do you actually save long term if you are only protected up to £85000. If you would split it
up to different companies you wouldn't benefit from compound growth and you can't just find
a huge number of companies that offer the same investment types.
I was now looking into how money is protected with Vanguard but can't find anything on the FSCS website, only a similarly named company that went out of business in 2017. The entry on the
FCA site is very vague and only just confirmes that they are registered.
https://register.fca.org.uk/s/firm?id=001b000000NMI0mAAH