Brexit uncertainty no closer to being resolved

Since our last newsletter in March, various Brexit deadlines have come and gone as, indeed, has a Tory leader.

So, we now find ourselves with the double whammy of continued uncertainty regarding our future relationship with the European Union – and no idea who the next Tory leader (and Prime Minister) will be.

Boris Johnson is considered by many to be the front runner but, as history shows, the favourite for the Conservative Party crown has a habit of tripping up at the final hurdle.

Our clients tend to reflect the country at large – many voted in favour of leaving the EU while just as many were adamant that our future economic prosperity was best served by staying within the EU family of nations.

A few were even content for us to leave the EU without a deal – something that has become a major talking point during the recent Tory leadership hustings.

Despite these uncertain times, the UK economy and financial markets have held up resiliently. And even when the pound goes down, there is usually a positive for overseas holdings.

I held a review with one client last week, who had come to the end of his first year with us. He had enjoyed an 8 per cent return.

People are often surprised when I tell them that major news events such as Brexit and the wider political uncertainty have had little or no impact on their portfolios.

My answer is always the same. Our job as your financial advisor is to ensure that your portfolio is suitably diverse and part of a clearly defined strategy. Inevitably, there will be economic jolts along the way but a properly robust and varied plan, should ensure strong performance over the longer term.

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