Those with an eye to the longer term would do well to consider putting their cash or shares into the care of a professional fund manager - and many of them are offering special schemes to attract windfall investors.
While the Halifax is an immensely strong and powerful bank, many first- time investors will be mindful of the advice that diversification presents the best way to reduce risk and will be looking to invest in a personal equity plan. One of the easiest ways to do this is through a share exchange scheme, which simply involves handing over your windfall shares and receiving a parcel of units in return.
If you want to use your windfall to kick-start a long-term investment plan, you might prefer a fund manager who will allow you to retain your shares within the personal equity plan - and top them up with investments in its own funds either as a lump sum or on a monthly basis. These are set out in the table on this page.
Those in line for multiple windfalls will need to ensure that they invest in a personal equity plan that will hold a number of different shares.Reuse content