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No. of Recommendations: 1
My 2 cents and almost worth that much.
I know you've indicated they have some concerns about putting it all in one place but my suggestion would be to put it all in a money market fund with a major no load fund family. (Vanguard?) Then when they have decided how they want it invested they could make transfers from the MM fund to the funds selected. While I share their concerns regarding having more than $100K in a bank account I think having it with a mutual fund family is acceptable.
With this amount of money in a Vanguard account they can get some free or discounted financial planning advice from Vanguard. Similar services from other fund families may also be available.

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