Case Study  /  Investment

"My dad died recently and has left me a large sum of money which at the moment is sitting in my bank account. The bank keeps ringing me to make an appointment with their adviser but I would rather speak with someone who is independent."

Claire is 51 and in good health. Her father Arthur died earlier this year and he has left his whole estate to Claire, his only daughter. Claire now has £375,000 sitting in her bank account. Claire is single and has no children. She has no investment experience and wants to make sure she invests wisely as she is aware that this is her father's life savings.

We spent some time making an in depth assessment of Claire's financial situation and attitude to risk. She had no debts apart from an outstanding mortgage of £90,000. Claire was managing comfortably on her income and had savings that would cover at least 3 months income in a building society account. She was fortunate to be a member of a final salary pension scheme for the company she had worked for since leaving school.

We produced a report for Claire outlining all the investment options to consider and after careful discussion she decided to maximise her premium bond allowance, utilise her ISA allowance and invest the remainder in a Genera Investment Account. We had discussed reducing her mortgage debt but Claire felt that as this was a repayment mortgage and the term remaining was only 8 years she preferred to continue paying this from her income.

Our recommendations took into account Claire's cautious attitude to risk and we agreed to meet with her at least once a year and to review her portfolio on a quarterly basis, making recommendations to rebalance the investment if required.

Claire is reassured that she has made a wise investment decision and that she will have guidance into the future regarding her financial affairs.

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