Ken Davy  

Steer clients through the eye of the Brexit storm

Ken Davy

Ken Davy

As I write this article, I am looking out over a beautiful, blue, cloudless sky as a soft breeze rustles the leaves of the trees outside my office window. It is hard to imagine what could possibly disrupt such a serene image.

However, if we have learned anything from the past few months, it is that we should always be alert to the changes and challenges that can throw us completely off course.

Before the election, we were a nation divided over the European Union referendum result, after an in/out, sometimes chaotic campaign, which brought little credit to either side and delivered a surprise outcome.

Now, after the closely fought General Election, with its indecisive result, we have the legacy of all of what went before, compounded by the once majority party now having to rely on the help of others to retain power.

Indeed, instead of going into the Brexit negotiations with the strong hand the Conservative government was hoping for, we now have a weakened and uncertain starting point. In financial services specifically, we still have a mass of EU regulation heading our way, along with numerous far-reaching FCA reviews and consultations.

The UK’s economy remains generally robust and, despite the election outcome, markets have proved stable while the lower value of the pound provides the possibility of the UK’s exports leading the economy forward.

So, after a turbulent start to the year, should we expect a period of stability as everyone adjusts to the changed landscape? Or are we merely in the eye of the storm, with more uncertainty and upheaval to come?

Whatever the answer, we know that consumers have never had a greater need for good financial advice. The need for our clients to save more and provide protection for their loved ones does not change, regardless of the political scene or the government’s colour.  

Today’s uncertainties are played out instantly on a global stage so that clients, and potential clients, need and value more than ever before a reliable and experienced professional to reassure them. As their trusted financial advisers, it is our role collectively to take them forward with confidence into the calmer waters and bluer skies we all seek and which, with your help and support, they will be able to enjoy both now and in the future.

Ken Davy is chairman of SimplyBiz Group