The research also reveals that among those who have diversified savings portfolios:
- 74 per cent say it helps make the most of their money
- 68 per cent say it better protects their money
- 55 per cent say it helps them track progress toward savings goals
“Those who spread their cash across multiple types of savings accounts are likely to benefit over the long term. Having a combination of easy access and fixed-rate products, whether it’s for your ISAs or your taxable savings accounts, means you can access some money, while benefitting from the higher rates typically offered by fixed-rate products,” Lewsley said.
“Some banks now also offer Portfolio ISAs, allowing you to spread your annual ISA allowance across multiple ISA products. It’s worthwhile to see if your bank has this feature before opening an account.”
Since its launch in April 2017, Ford Money has been shortlisted for a number of consumer money awards, underlining its commitment to delivering a fair and consistent service for savers.
Most recently, Ford Money was ‘Highly Commended’ in the ‘Best Savings Provider for Large Deposits’ category at the 2018 Moneywise Customer Service Awards. Ford Money also was named Best New Savings Provider at the Moneynet Personal Finance Awards 2018.
Ford Money services are available online at www.fordmoney.co.uk and include a range of savings products and ISAs. Deposits of up to £85,000 are protected by the UK government’s Financial Services Compensation Scheme (FSCS).