How best to invest for living and growth

auntie

My niece (19) has finally inherited/been compensated £250k after the death of my brother.
She will need income to live on and to pay student fees for the next 3/4 years, but also needs to do something with the lump sum. The money is at present in an instant access trustee account with 0.2 interest. It needs to be moved as soon as we know what to do with it, not been there long. The problem we have is knowing where to get the best advice on what to do with it. Any suggestions?

Aegis

auntie wrote: »

My niece (19) has finally inherited/been compensated £250k after the death of my brother.
She will need income to live on and to pay student fees for the next 3/4 years, but also needs to do something with the lump sum. The money is at present in an instant access trustee account with 0.2 interest. It needs to be moved as soon as we know what to do with it, not been there long. The problem we have is knowing where to get the best advice on what to do with it. Any suggestions?

Find a couple of local IFAs and see what they suggest. https://www.unbiased.co.uk will have a list of them.

It will largely depend on what she wants to do with it. Some of it may be a house purchase in a few years, some of it may effectively add income for her for many years to come.