Let's pretend that over the next several years I'm able to max out my ISA contributions.
Given that the FSCS currently protects upto £85k, does the following strategy make sense? Or is it over engineered?
Year 1: Max ISA contribution to Provider 1 E.g. Vanguard
Year 2: Max ISA contribution to Provider 1 E.g. Vanguard
Year 3: Max ISA contribution to Provider 1 E.g. Vanguard
Year 4: Max ISA contribution to Provider 1 E.g. Vanguard
Year 5: Max ISA contribution to Provider 1 E.g. Vanguard
Year 6: Max ISA contribution to Provider 2 E.g. Fidelity
Year 7: Max ISA contribution to Provider 2 E.g. Fidelity
Year 8: Max ISA contribution to Provider 2 E.g. Fidelity
Year 9: Max ISA contribution to Provider 2 E.g. Fidelity
Year 10: Max ISA contribution to Provider 2 E.g. Fidelity
Year 11: Max ISA contribution to Provider 3 E.g. Hargreaves Lansdown
... etc.
So that, by year 12 (for example) I have three different ISAs with three different Providers.
Good strat?
Given that the FSCS currently protects upto £85k, does the following strategy make sense? Or is it over engineered?
Year 1: Max ISA contribution to Provider 1 E.g. Vanguard
Year 2: Max ISA contribution to Provider 1 E.g. Vanguard
Year 3: Max ISA contribution to Provider 1 E.g. Vanguard
Year 4: Max ISA contribution to Provider 1 E.g. Vanguard
Year 5: Max ISA contribution to Provider 1 E.g. Vanguard
Year 6: Max ISA contribution to Provider 2 E.g. Fidelity
Year 7: Max ISA contribution to Provider 2 E.g. Fidelity
Year 8: Max ISA contribution to Provider 2 E.g. Fidelity
Year 9: Max ISA contribution to Provider 2 E.g. Fidelity
Year 10: Max ISA contribution to Provider 2 E.g. Fidelity
Year 11: Max ISA contribution to Provider 3 E.g. Hargreaves Lansdown
... etc.
So that, by year 12 (for example) I have three different ISAs with three different Providers.
Good strat?