Brexit uncertainty increases demand for Financial Advice.
Financial confidence unexpectedly is at threat with the economic uncertainty that Brexit brings. As the UK approaches their divorce of leaving a 40-year relationship with the European Union, more and more people are turning to financial advisers in order to receive guidance on their ability to save money, protect their wealth and ensure they have enough to sustain themselves throughout retirement. Businesses also seem to be seeking financial advice more frequently as they fear the performance of the trade sector.
But even when the government don’t know what life post Brexit will bring, how can financial advisers’ assistance be of any use?
Although, we at SMC Financial cannot accurately predict all the potential issues in advance, we can rely on our experience and knowledge to help clients make more informed decisions. Brexit is just one of many uncertainties which can affect your retirement, along with rising life expectancy, changes to workplace pensions and extremely low annuity rates.We would treat Brexit the same as any other economic or politically uncertain time in markets so are ready to adapt our advice for each client depending on their risk tolerance.
Recent findings show that 21% British adults are changing their investment strategy in reaction to Brexit and around 15% plan to be more conservative and take fewer risks following the Brexit vote, with only 3% planning to increase their risk exposure. It is important to note that any investment decisions made without taking regulated financial advice would not qualify for any form of financial protection so we would always recommend using a qualified professional.