Business sale - high 7 figure investable - where do I turn?

Grandst2

I would use most of it to move  up the property ladder a few rungs. Property has been an incredible long term investment, tax free gains, you enjoy living in it and a lot lower annual costs than paying people to manage your  money. No brainer.

Bostonerimus1

JohnWinder said:

I’m not convinced ten million need be invested differently from half a million. Why would a sound strategy for the smaller gradually or suddenly become unsound the larger? I can picture an ordinary old (probably more wisdom than young) IFA coping with ten million.

To be fair, some of the ‘not your average job’ comments came in before more of the curtain was rolled back thus:

at this point I'm not looking to generate disposable income from the investments but rather to try and grow the pot (or at least preserve relative to inflation in the current environment)........‘It'll be nice to work for a while in a derisked environment.’

What has been written thus far suggests a low cost global equity fund would cut the mustard, if ‘grow the pot (or at least preserve relative to inflation in the current environment’ means getting returns of ~6%/year which is current inflation I think. Or even linkers would do it, since real returns are positive beyond about 2 years. I could probably live on the fees you’d save with that approach compared to venture capital or hedge funds through an ‘advisor’. Let me check: yes, I can live on 100,000/year, and I’m being generous with the fees or parsimonious actually.
If hedge funds, private equity and the like are good deals although expensive and risky, then surely you’d only sign up if 100% global equities was not risky (and ‘returny’) enough for you? And something about the tax tail wagging the dog.

I agree that ten million isn't that different from one million for investing purposes. I'm at maybe half the OP's networth and while I have a chunk locked up in real estate that still leaves mid-7 figures to invest. I mostly use low cost index equity funds and have a lot wrapped in tax deferred DC pensions. The trick with such amounts is tax and estate planning and I would research or take advice in those areas as a priority.

ChilliBob

My views, having had some experience of this, to a degree:

* IFAs will probably focus on tax, and likely suggest offshore bonds for one
* Make sure anything suggested is something you understand, some 'tax optimisation' ideas may seem good but make sure they don't seem too good to be true!

* You could do it yourself, if you had a bit of time, starting small and getting comfortable, then increasing your portfolio - it depends on what else is going on for you. 

* Whether going it yourself, with an ifa of what not you need to know roughly what you need to spend each year, what your future plans are etc, so you (or them) can do some cash flow forecasting. 

ChilliBob

Sea_Shell said:

From reading threads in the banking section, I feel that your biggest hurdle will be actually getting the money THROUGH your normal bank current account from the sale and onwards to your investments (wherever they end up) without triggering your account being frozen!

Would your solicitor be able to split some of the sale money off and pay a modest amount into an account with a different back, to at least ensure that you have access to "normal" day to day spends money from the get-go.

Do you have more than one current account?    

Would it be sensible (or make any difference) to at least try and have a meeting with someone at your bank to forewarn them, even if they try the hard sell on you (which you probably should ignore)


Good luck and well done.    

That's a good point. I opened 5 accounts in my situation, much to the payers irritation. I had also opened a bunch of savings accounts before which I all had on a spreadsheet.

You will find a you move chunks from the massive accounts to the savings accounts you will likely trigger the fraud dept calls. These are tedious, but good they are doing them. After a while they get used to you and tend to calm down! 

Cannonball2134

Given how much you will be receiving and how much tax you will have to pay when you exit, i would start searching for a wealth manager to give you advice as early as possible. They could save you a lot of money and time. Perhaps google wealth manager reviews, read through a few of the results and see if there are any you like. 

ColdIron

Avoid 'wealth managers'

Albermarle

ColdIron said:

Avoid 'wealth managers'

That is the usual advice for investors looking for financial advice, but in this case they do need somebody more used to handling larger sums of money, than the usual IFA.
So they do need a proper wealth manager ( rather than someone just calling themselves that)

dunstonh

Albermarle said:

ColdIron said:

Avoid 'wealth managers'

That is the usual advice for investors looking for financial advice, but in this case they do need somebody more used to handling larger sums of money, than the usual IFA.
So they do need a proper wealth manager ( rather than someone just calling themselves that)

An IFA with chartered financial planner permissions/qualifications would be suitable in this scenario.

Thumbs_Up

With your money and business acumen it would be the golden key to open up other doors to other countries. In this country you will be despised by the envious socialists. Take your money, your family and run to the hills...