I’ve been using IndoSuez (part of Credit Agricole group) to manage our investments. After the recent collapse of Silicon Valley Bank, I’m concerned at being overexposed to one institution, however large, and presumably well capitalised.I calculate that in the (hopefully highly) unlikely event of CA going bust, I would lose @ 75% of my capital, given the current compensation thresholds.
I’m looking to start building up investments elsewhere and have been exploring investing with one or more of the new fintech houses eg names like Nalo, YoMoni etc which provide online portfolio management services, based on a combination of assurance vie ‘wrappers’ around ETFs (tracker funds). Their costs are far lower as a result than the more traditional, classic investment houses. Performance seems fine, although obviously they haven’t been going for many years.
Has anyone any experience of using this type of fintech company and/or considered using them but decided against?