No idea what to do

It seems a bit extreme to say you have been investing in a portfolio of S&S ISAs and decided to sell out of them for cash because you weren't sure what fund to invest in next, so what you are now going to do at age 61 is suddenly start a property rental business.

Have you ever been a landlord? do you have an edge on the other casual landlords in the sector by being able to do all your own maintenance and renovations and letting agent work, even though you already have a full-time job, together with enough capital to invest in a large number of diversified properties to avoid having all the eggs of your new business in one basket? Would you not mind the fact that a rental property incurs tax on the income (without full deduction of your expenses if you are a high rate taxpayer), capital gains tax on sale, the new extra stamp duty on second properties and all the other anti-landlord measures introduced in recent years - whereas investments via your ISA are free of CGT and free of tax on dividend income, interest income and property income fund distributions?

You mention putting £1400 a month into pension. That's a little under £17k a year - so presuming you earn more than that there is scope to move some of your redundant cash from ISA to pension, without breaching your annual £40k allowance (and if your salary is higher than £40k you may be able to carry forward previous years' unused allowance).

If your IFA doesn't know what to do with your £100k S&S ISA cash and your pending £145k cash ISA cash, which together is almost a quarter of a million quid and well over half your total shares/funds/NS&I/cash portfolio... perhaps it is because you haven't articulated your goals very well. You certainly haven't told us what you want, other than you have assets and don't know what do to with them.

It is perfectly valid to have some cash, even at low rates- you don't need to spend it all. As presumably you would want to be able to buy more shares and funds if everything crashed tomorrow. But if you haven't been able to explain your goals to us or to your IFA, you probably need to define what it is that you want out of life, before you ask how you should spend or invest your money to get there.

It might be that you have achieved all you want to achieve - the house you want, no debt or mortgage, sufficient pension to get you through retirement at your forecast level of spending, secure job to see you out til state pension age, nest egg for the kids etc. You say you never expected to be in this position, so maybe it was your end goal and it has been reached, so you need new goals.

The best investment you can make might be to improve your quality of life by working fewer hours or, depending on health, going on a world cruise or a hike up Kilimanjaro. These would cost cash but probably improve your life more than starting a landlord business, IMHO.