However you voted, and whatever your views on the result, one thing is clear. Life after Brexit for the economy and the political landscape has changed.
In the immediate aftermath of the ‘leave’ vote, we saw the resignation of the Prime Minister and a plunge in the pound and the markets – and that was just in the first four hours.
But while we are experiencing huge turmoil in the first days and weeks we need to remember that in the grand scheme of things the Referendum is just one other event. Eventually, viewed in an historical context, the impact may not be that great.
However, we need to deal with the immediate, and what we have in front of us is a period of uncertainty. The wild swings we’ve seen in the run up to and post referendum are likely to continue. While one question has been answered, it leaves many more. What changes will the new Prime Minister, Theresa May make? Will Scotland leave the UK? What will happen to the economy?
Life after Brexit – impact in Europe
Although the outcome took many by surprise, the possibility had been discussed and it is clear that Eurozone leaders had been making preparations should the vote be ‘leave’ – from discourse on intensifying European integration and defence, to working on controversial monetary measures such as the European Central Bank’s Outright Monetary Transactions programme, which will require the purchase of potentially unlimited quantities of Eurozone economies’ sovereign debt in case of another threat of Eurozone default.
So, plans were put in place, but it was impossible to plan everything and, to a certain extent, the impact of Brexit will have to run its course – however long that takes.
In the meantime, our clients can rest assured that Hartsfield investment portfolios are well diversified and are designed to ensure that in nearly all scenarios, there should be some part of the portfolio experiencing growth. While we now expect a period of uncertainty and therefore volatility, it is important to maintain a long-term stance with investments and to know that we will be keeping our managed portfolios under regular review.
If you’d like to chat through any concerns post-Brexit, please get in touch with the Hartsfield team.
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Categorised in: IFAs
This post was written by Paul Verwoert