The challenge to answering this question is that while you have a goal--save for your daughter's wedding--you probably don't know exactly when that will be, and consequently how much it will cost.
The average age of first marriage can vary greatly in the US--she could marry her "high school sweetheart" or not until her late thirties, or later.
For this reason, you might want to consider the fund a general needs fund for your daughter. She might need it for something else instead of or in addition to her wedding: college or vocational school expenses, for example.
To determine your asset allocation targets--meaning the percentages you should put in stocks/stock funds, bonds/bond funds, cash, and/or other investments--you should consult with a financial planner (such as a CFP®)--to talk about the various scenarios and how to prepare for them.
I will say that if you are looking for your funds to grow at all, keeping them all in bank savings may not be a good idea. Currently, bank savings are earning (in most cases) just over 0% interest. If inflation (rise in price of goods and services) is at 2-3% over the next few years, that means you are losing that much "purchasing power"--what you can buy with your dollars is actually going down. So you want an investment mix that will give you the potential to grow more than the rate of inflation. How much more you want to reach for above that is a conversation to have with your advisor.
Please let me know how I can further help.
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