power of attorney best investment for aprox £200K

CHIHUAHUA

My partner manages an elderly relative's financial affairs along with her sisters under the terms of a power of attorney.He has advanced dementia and now lives with us- his house has just been sold for £170K He will not need to spend his money as his care is funded and he has a pension which is enough to meet his other living expenses. In total he will have around £200K which will need investing once the house sale completes.
Any ideas the best place to put his money?- we know nothing about savings/investments. Curently he has a few K in diff accounts with the bank but we will need to rationalise this.
Hopefully he will live for another 10 years he's 89 but very well looked after!
Thanks
CHI

Stavros_3

Get a 1 -2 yr fixed rate savings deposit. Thats after putting the maximum into an Isa

soulsaver

And split the deposits amongst banks to ensure they are below the £50k fscs compensation limits. 4% achievable at the mo - Alliance & Leicester and Bradford & Bingley both have them available, may be branch based.
And contrary to what the Fool said they are separately regulated so you are safe with £50 k in each. Then you need to find a couple more...:think:

soulsaver

ICICI still doing a 4.0% fix or a touch more. FSCS coverered.