After waking up to the result this morning our message is as above. It is a time for calm heads while the dust settles and we see what direction the country takes.
Having just arrived back from the wonderful city of Barcelona, I can’t pretend that I am not shocked that we would chose to remove ourselves from the European Union.
Prior to the vote we had highlighted some of the risks we saw from an investment and economic perspective but as I went to bed last night it seemed like we wouldn’t have to face them.
How wrong can you be!
Thankfully our investment managers had taken neutral or defensive positions even though the markets were pricing in a remain vote and given with the type of well diversified portfolios we recommend to our clients, the effects of the sell off, particularly in the FTSE, should be lessened somewhat.
There is a lot of economic and political uncertainty ahead and I have no doubt from speaking to our clients that many saw this as a risk to their business from lots of different perspectives.
We appreciate any input from our business clients as we look to shape our advice and opinion on what the future may hold.
Please see the quote below from Lothar Mentel CIO of Tatton investments:
Now that we have the result we will do as we suggested to everybody else over the past weeks and ‘keep calm and carry on’. In practical terms this means that while the market storm rages over the shorter term we will not be tempted to make any sudden moves. This prevents crystallising temporary losses, when there is a strong possibility that after the initial reaction markets will recover somewhat and stabilise as we all await detailed plans of how to make the best of the changed framework.
We would encourage you to talk to us during this period so please feel free to email email@example.com with any specific queries you may have, and we will respond as quickly as we can.
We will of course be in regular communication as the situation unfolds over the coming weeks.