Look no further Woodward Financials is the financial adviser to lottery winners. Those that win the lottery, or a smaller lottery pay-out could find themselves in uncharted territory needing financial advice and who better than an Independent Financial adviser authorised and regulated by the financial conduct authority. David Woodward who manages multiple millionaire clients remembers his very first lottery winner, such a pleasurable meeting to see the delight of a young couple winning and the happiness of them realising the doors that such a win could open.
Advising a lottery winner is remarkably similar to many of our normal clients, from taking clients through every part of financial planning to pointing out the benefits of trusts and in some cases inheritance tax planning.
Yes, there is the normal wish list of immediate purchases from a new handbag, a new car, holidays and moving house, but then what? That is when Woodward Financials steps in.
Unfortunately, there is the darker side of lotteries, David recalls around 10 years ago, receiving a call from a lottery winner, an old gentleman who said he won £4.1million, David arranged a meeting and on entering his apartment in an elderly complex he handed David a list lightly scribbled in pencil of what he would do with his winnings, from gifts to charities, new cloths, buying a new house etc.
David spent a good few hours with him, being handed letter after letter, by David knew within minutes of opening the first envelope he went from advising genuine lottery winners to breaking the news that he had been victim of an extraordinarily complex fraud. The depravity some people go to, targeting old peoples homes, he had been buying lottery tickets and winning small amounts of £25 and £50 in short his initial stake, not a penny more and after months of buying tickets, they hit him with the big win, before you collect the winning you need to pay £90,000 in tax, up front before receiving your lottery winnings.
Thankfully, he called David with years of experience he knew it was a fraud, if you come into a sizeable sum of money via inheritance or a lottery win, we would be delighted to advice you and manage your windfall as tax efficiently as possible. Making sure you continue to enjoy whatever luck comes your way.
Please remember you are not obliged to use any financial adviser the lottery companies suggests to their winners, an a financial adviser to lottery winners does not make them the best advisers, I would recommend that they are independent, they are a financial expert in many areas, they have years of experience and that you get along with them after all you’ll be working with them for years to come.
Woodward Financials have all of the above attributes, we are columnists to the express as a financial expert, we have too many years of experience including being a financial adviser to lottery winners, we are independent which set us apart from many advice firms and we just happen to have been voted Best Independent Wealth Management Firm in 2021 and again in 2022 as for getting along with clients they have been with us for decades so we must be doing something right.