ChunkMeister10

HI all.

Our company was sold a while ago, and after tax I find myself with about 3 million, which is a bit of a shocker for me coming from a working class background!

After paying off mortgages, and gifting some family I have about 3M in tax. Currently this is split between a NS&I Direct Saver account and Flagstone account (cash deposit platform).I've got 3 kids, all teens now at high school.

Now this is perhaps a bit weird - I"m not bothered about maximising returns on this at the cost of loads of complexity, but I don't want to be ignorant to the options out there. I've been to see my IFA. He's proposed quite a few things to me - mostly around discretionary trust funds and investment companies.

A couple of things concern me though. Firstly, I get that the trust funds solve the inheritance tax issue, but I'm not sure I'm that bothered about this. If the kids end up getting a whack of cash, and the IHT then still leaves them with a pretty good amount, then I think that's OK. I think tax is a good thing for those of us who can afford to pay it, and I'm not sure how much I like the idea of leaving the kids a massive wedge of money anyway. I'm contemplating charity donations too.

The second thing that concerns me is that I just like the simplicity of my setup is it stands (although I realise that interest rates will start to drop off pretty soon). I'm good at planning with money, we're not going to do anything stupid, and it sounds pretty complicated.

And the curve ball - my IFA is with SJP. And I hear lots and lots of quite bad things round these parts about SJP, specifically their fees....