Independent advice on investing an inheritance

While coming into a large sum of money may be expected, knowing whether or not to invest your inheritance can present a new challenge at an already emotional time.

Give yourself time to consider what you’d like to do with the money.

You may decide you need access to all your inheritance, perhaps to pay down debt, buy a home or fund your current lifestyle. Or you may find yourself in a position to invest some of it.

If so, speak to one of our qualified Wealth Planners to get independent financial advice on managing your inheritance to help you achieve greater financial security for you and your family’s future.

Why invest your inheritance?

Here are just some of the reasons why you may want to think about investing your inheritance:

1. To grow your wealth – investing your inheritance with growth in mind can be a good way to combat the corrosive effects of inflation and leave you with more in the long run
2. To achieve your retirement goals – investing your inheritance could bolster your retirement income, helping you enjoy a more comfortable retirement
3. To make pre-emptive plans for long-term care – whether for yourself or someone else
4. To provide additional income – the income generated from your invested inheritance could afford you a regular, extra source of income to spend as you wish
5. To save for something important – you may have a big expenditure on the horizon that will require an injection of cash, such as a wedding, having or supporting children, or buying a home.

How to invest an inheritance

If you’re already thinking about investing your inheritance, our team of independent Wealth Planners can help you design a comprehensive wealth strategy based on your future goals and appetite for risk.

If investing your inheritance is the suitable way forward, they will know how best to do so, by considering several factors including:

• Cashflow planning – to evaluate your financial needs now and in the future. By building a picture of your current and forecasted wealth, your Wealth Planner can work out how much of your inheritance you could afford to invest
• Inheritance tax planning – with the aim of saving you significant amounts in the long term.

How to manage inherited investments

If your inheritance includes investments left to you, you will need to decide whether to keep these assets invested as they are, move them or cash them in. To help you make an informed choice and protect the value of these investments, speak to a Wealth Planner before taking action.

They can review your inherited investment portfolio in terms of asset allocation, geographical split and exposure to market volatility to ensure your portfolio is aligned with your goals, and if not, suggest how best to bring them in line with your personal financial plans.

How to protect your inherited wealth

At Canaccord, we have the expertise to ensure your inheritance is protected for the future and invested to meet your needs now, including:

• A family trust company
• A discretionary trust
• A bare trust
• Deeds of variation.

Your Wealth Planner will work closely with our investment management experts to construct a bespoke financial plan for you that is tax efficient, protects against inflation and has the flexibility to weather any changes in your circumstances.

How we can help you invest your inheritance

While inheriting a large sum can be exciting, you might also find it daunting. Our Wealth Planners have the expertise and, importantly, the independence to advise you on the best way forward.

Your dedicated, personal Wealth Planner can:

• Review your current financial situation and help you decide what is best to do with the money – such as paying off debt or your mortgage, as well as thinking about investing some of your inheritance.
• If you decide you want to invest it, they can build a diversified investment portfolio suited to your individual needs.
• Review your plans on a regular basis and adjust as and when they are needed.

Our specialist wealth planning solutions

Meet some of our wealth planning experts

If you would like to know more about how our independent Wealth Planners can help you invest during retirement, please get in touch. We will be delighted to provide more details of our services.