Background

Frank, aged 50 enjoyed a big win on the lottery several years ago. He already owned a small residential property portfolio. At the time he became our client he was going through a divorce and was unhappy with his former financial adviser.

Challenges

  1. The client needed to complete renovations on his own home and had a property development project
  2. His investments were held offshore in poorly performing funds and subject to inflexible trusts and he had no understanding of investment strategy or financial planning
  3. He had concerns about buying out his wife
  4. He needed to maintain his current investment income to cover his outgoings, as he is a millionaire but doesn’t feel like it
  5. He wanted to minimise his tax liability

What we did

  1. Assigned investments to the value of £500,000 to his ex-wife
  2. Assigned remaining investments to Frank via his daughter
  3. En-cashed remaining investments over 2 tax years to minimise tax
  4. Reinvested in a diversified portfolio of assets
  5. Managed on an ongoing basis to match Frank’s risk profile and income requirements
  6. In conjunction with solicitor, removed ex-wife from land registry titles for all properties
  7. Arranged short term property development finance to fund project

The results

  • Met Frank’s obligations to his ex-wife
  • Freed up remaining investments from the trust
  • Avoided more than £140,000 of income tax
  • Maximised the potential for future investment returns
  • Maintained his investment income
  • Enabled property development project to complete
  • Paid down residential mortgage
  • Client able to make a fresh start and face the future with confidence and security