Bill Cook is the founder, manager, and 100% owner of a private company. Through hard work he has built his company to an estimated value of GBP 30,000,000. While the country he resides in is not the U.K., it uses the GBP. His tax basis is near zero, and he has been planning for his daughter to take over the business when he retires in 3 years. He was shocked when she recently announced she is quitting the business to pursue a different life course. Both his grandchildren also work at the company and are advancing rapidly in their business skills. Cook has a home (mortgage free) and shorter-term government bonds valued at GBP 900,000. In addition, he has a stock and bond portfolio valued at GBP 1,700,000. He also owns the land and building where his business is located. The land and building are valued at GBP 2,000,000 and are mortgaged for GBP 2,000,000.

1. Determine the holdings and value of his three risk buckets.

Working with an investment manager, Cook determines he requires GBP 20,000,000 today to fund the future value of his primary goals and objectives in retirement. Until retirement, his income from the business will fund his expenses.

2. Based on this information, recommend the next step in structuring a financial plan.