How Jonathan found a simple way to grow the cash from his business sale

In conversation with Jonathan Exall

When long-time business owner Jonathan realised it was time to step back, he knew a turning point was fast approaching – and that he’d soon leave the business he and his brother had built. After completing the sale through an Employee Ownership Trust, he needed an effective way to manage the lump sum he received.

That was when his financial adviser introduced him to Flagstone. Having access to a secure, simple platform gave him confidence in how his cash was being managed, while still keeping future plans open. Here, he reflects on that chapter and the decisions that shaped it.

Can you tell us a bit about yourself?

I’m Jonathan Exall, 66, and I’ve been married for 40 years. My wife and I have three grown-up children and we live in a village near Tonbridge in Kent. My brother Nigel lives next door and also has three adult children.

In 1983, Nigel and I purchased a disused farm and began converting and developing the farm properties. Construction had always been part of our family life – our father started a construction business in 1964, and we took over in 1990. As the business grew, we invited an equal-equity partner to join as Managing Director, which helped support the next stage of the company’s development.

What led to the decision to sell the business?

As we approached retirement age, the three of us – myself, Nigel and our MD-partner – began considering exit options. Our MD-partner still enjoyed working, but Nigel and I were ready to retire. I reviewed several succession routes and concluded that an Employee Ownership Trust (EOT) offered the best outcome for everyone involved.

The EOT allowed the business to continue exactly as it was, with our partner staying on to run it, while Nigel and I retired immediately after the sale. It was reassuring to see the ethos and management structure remain unchanged, and the continuity was important to all three of us. The process was completed within three months. At that time, it was also a tax-free transaction, which was an added benefit.

After selling the business, what were your main priorities when deciding what to do with the cash you earned?

Our priority was simply to use the proceeds wisely. Nigel and I purchased several commercial and residential properties at favourable cash values. I also tried investing a small amount in the stock market, which ultimately reinforced the importance of investing securely and avoiding markets where you have little control.

After the sale, I placed a substantial amount of cash with Flagstone to access the most competitive rates available at the time. I’ve always preferred to spread funds across different banks to maximise FSCS protection, and to keep money in short-term accounts so it remains accessible for asset purchases or new business opportunities.

What were you hoping this money would help you achieve?

Having our cash earning interest securely has been extremely helpful as we consider our children’s future and inheritance planning. 

Before discovering Flagstone, how were you managing your savings?

Before we found Flagstone, our surplus cash sat in a NatWest savings account. After the issues surrounding Northern Rock, having that amount with a single bank – and limited protection – didn’t feel sensible, so we needed a safer and more diversified approach.

How did you first come across Flagstone?

Our financial adviser recommended Flagstone through St. James’s Place. We liked the simplicity and security of the platform, and it aligned with what we needed at that stage. Since then, we’ve also opened an account for the construction business and our self-administered pension fund.

How did you find the process of using our savings platform?

The setup was very straightforward, and the support from the Flagstone team was excellent. 

I tend to log in weekly to review interest rates and switch when something more favourable becomes available. 

And finally, what’s next for you?

We’re enjoying retirement and are reassured knowing our savings are protected and earning competitive interest. I’ve also recently started a new business venture, and once it’s fully set up, I’ll be opening a Flagstone account for that business too.

Cash uncomplicated

Savings platforms like Flagstone can offer choice, clarity, and security when you need it most. If you want to spread money across a range of competitive accounts, maintain FSCS protection, and manage everything in one place, Flagstone provides a simple way to stay in control.

Explore how Flagstone could help you make more of your cash today.

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