- Home
- Wealth planning
- Lottery Winners
Independent financial advice for lottery winners
How to make the most of your lottery win
Winning so much money at once often feels daunting as well as exciting, so it’s vital that lottery winners get the right financial advice.
It might feel as if you have won enough money to last you a lifetime, but the future is always uncertain. Before you rush into any decisions, it’s best to set up a financial plan, to make sure your winnings last, and maybe even grow over the years.
Our small, dedicated team of wealth management experts specialises in advising lottery winners on how to the make the most of your newfound wealth. With a combination of our independent wealth planning and award-winning investment management, we also understand the important of privacy and discretion when working with you.
Ready to make the most of your lottery win?
Arrange a no-obligation call from one of our independent wealth planners.
Your consultation will cover these important points:
- Defining your long-term financial goals
- Securing your winnings
- Developing a financial plan
- Setting up a sustainable spending plan.
Frequently asked questions
After winning the lottery, the first step is to stay calm and avoid making any immediate major decisions. Contact our team to schedule a consultation where we will help you create a comprehensive financial plan, covering aspects such as securing your winnings, tax planning, and long-term financial goals.
In the UK, you have the option to remain anonymous after winning the lottery. At Canaccord Wealth, we understand the importance of privacy and confidentiality. Our approach ensures that your identity and personal information are protected.
We work with a dedicated small team of experts within our larger support network to manage your affairs discreetly and securely. This ensures that only a select few, trusted individuals handle your case, maintaining the highest standards of confidentiality. Our team will guide you through every step to ensure your anonymity is preserved and your information remains private.
No you don’t. In the UK, lottery winnings are tax-free. However, any interest or income generated from your winnings, such as investments, may be subject to income tax. We can help you navigate the tax implications and make informed decisions to optimise your financial situation.
You can gift up to £3,000 per year to individuals without incurring inheritance tax (IHT). There are additional allowances and exemptions available for larger gifts or for specific occasions, like weddings. Our advisers will help you structure your gifts to minimise IHT tax liabilities and maximise the benefits for your loved ones.
To make your winnings last, it’s essential to have a well-structured financial plan. Diversifying your investments, budgeting wisely, and setting up a sustainable spending plan are key strategies. Our wealth planning experts will work with you to develop a personalised plan that aligns with your lifestyle and future aspirations, ensuring your wealth is preserved for the long term.
Whether you can afford to give up work or retire depends on your current financial situation, lifestyle, and future plans. Our advisers will help you evaluate your financial position, taking into account your winnings, ongoing expenses, and retirement goals. Together, we’ll create a strategy that provides financial security and peace of mind, allowing you to enjoy your newfound wealth.
Ready to secure your financial future?
Arrange a no-obligation call from one of our specialist Wealth Planners
How we can help you
Independent wealth planning
Independent, expert financial advice to protect your wealth at every stage of life including specialist retirement, IHT and long-term care planning carefully tailored around your unique needs as a lottery winner.
Portfolio management
We take care of your investments and day-to-day decision making so you can get on with your life.
Our specialist team have around 100 years of experience between them, so you can be confident your portfolio is in safe hands.
Case study: How we helped Paul, who won £1m on the Lottery
Two years ago, Paul approached us after winning £1m on the lottery. At 58 years old, he had spent most of his working life as a delivery driver, earning around £25,000 a year. His wife, Carol, worked part-time as a cleaner, adding an additional £10,000 to their annual income. Together, they supported their family on this modest budget. Paul and Carol had two children, Alex and Lily, and their dream was to own their own home and provide a better future for their children.
Paul was determined to use his newfound wealth wisely. His goals were clear: to buy a home, support his children through university, and secure their financial future. Additionally, planning for his and Carol's retirement was a priority.
We started by discussing their immediate priorities. Paul and Carol decided to purchase a modest house outright, eliminating their monthly rent expenses. Using cash flow analysis, we determined the right purchase price to fit within their long-term financial plan. This ensured they could afford the property without compromising their other financial goals.
Paul and Carol wanted to ensure Alex and Lily had a strong start in their careers. We advised setting up educational savings accounts to cover university fees and living expenses. This ensured that no student loans were required – just a solid foundation for their children’s education.
With the remaining funds, we recommended setting up an emergency fund. The rest went into a low-risk investment portfolio, tailored to their risk tolerance and financial goals and balancing steady income with capital preservation.
For the first time, Paul and Carol considered their financial future. We helped them set up a pension plan to ensure a comfortable retirement and we also explored tax-efficient strategies to minimise any potential tax liabilities.
At the end of our planning process, Paul and Carol felt relieved and optimistic about their financial future. They owned their home, secured their children's education, and had a solid retirement plan. They could finally enjoy their newfound wealth with peace of mind, knowing they’d made informed decisions.
Ready to secure your financial future?
Arrange a no-obligation call from one of our specialist Wealth Planners
Investment involves risk. The value of investments and the income from them can go down as well as up and you may not get back the amount originally invested. Past performance is not a reliable indicator of future performance.
The tax treatment of all investments depends upon individual circumstances and the levels and basis of taxation may change in the future. Investors should discuss their financial arrangements with their own tax adviser before investing.
The tax treatments set out in this communication are based on our current understanding of UK legislation. It is a broad summary and cannot cover every circumstance and it does not constitute advice.
The information provided is not to be treated as specific advice. It has no regard for the specific investment objectives, financial situation or needs of any specific person or entity.
Our lottery winner specialists
You can depend on our team of specialist wealth management experts for a combination of award-winning portfolio management, stockbroking and wealth planning.
Other wealth planning solutions
Investment involves risk. The value of investments and the income from them can go down as well as up and you may not get back the amount originally invested. Past performance is not a reliable indicator of future performance.
The tax treatment of all investments depends upon individual circumstances and the levels and basis of taxation may change in the future. Investors should discuss their financial arrangements with their own tax adviser before investing.
The tax treatments set out in this communication are based on our current understanding of UK legislation. It is a broad summary and cannot cover every circumstance and it does not constitute advice.
The information provided is not to be treated as specific advice. It has no regard for the specific investment objectives, financial situation or needs of any specific person or entity.
Book a free consultation with a Wealth Planner
What happens next?
1. Arranging an initial consultation
First you can expect to receive an email from our team within 48 hours to find a suitable time that works for you, to arrange a voice or video call for an initial consultation.
2. Your consultation
During this consultation, a member of the team will discuss your situation with you to understand your requirements and answer any questions you might have about Canaccord Genuity Wealth Management and the services that we provide.
3. Referral to a Wealth Planner or Investment Manager
If you decide to progress with us, you will be referred to one of our Wealth Planners or Investment Managers to discuss your situation and requirements in more detail. They will then design a bespoke proposal detailing a unique investment portfolio that matches your individual requirements and attitude to risk, to meet you and your family’s needs.
4. Working with you long-term
With our wealth planning and investment management professionals, your wealth is in expert hands. Our mission is simple - to help you build your wealth with confidence. We will always keep you informed about your investment portfolio and performance and will continue to work with you to build our relationship on your terms. We can meet with you face-to-face, by phone or by email, whichever is more convenient for you. You can also access your account online at any time through our app. Our wealth management professionals are always readily available to speak with you.
Investment involves risk and you may not get back what you invest. It’s not suitable for everyone.
Investment involves risk and is not suitable for everyone.