Damian Fantato  

Summer loving for the value of advice

Damian Fantato

Damian Fantato

The arrival of summer means emptier offices and trains and, as a result, a quieter news agenda.

Luckily for Financial Adviser, we do not have to deal with the usual silly season fare of weirdly shaped vegetables or animals that have gone on the run – we will be taking a summer break for two weeks instead.

But if the past few months are anything to go by then this summer is unlikely to be as quiet as previous ones – at least when it comes to politics.

Whether Brexit talks between the UK and the EU will resume over the next few weeks, how much success they will have and whether there will be a general election soon is all unknown.

The government has a majority of one, which means the country will go on holiday teetering on the edge – but the edge of what remains to be seen.

It is all very reminiscent of the final scenes of the classic film The Italian Job, where Michael Caine’s band of crooks are left hanging precariously over the edge of a cliff with their stash of newly stolen gold at risk of plummeting to the bottom.

While the government is saying it is planning for all eventualities, the pound’s fall in recent weeks from $1.26 to $1.21 shows markets are not overly optimistic about the fact a no-deal Brexit is now being talked up.

And the prospect of a government that seems willing to bring an end to the era of austerity by splashing the cash could be good news for investors.

With all this uncertainty, the true value of advice will come to the forefront: being able to hold your client’s hand and reassure them about the value of thinking long term.

Perhaps the best advice is to turn off your phone, stay on the beach and order another margarita. Have a great summer and we will see you in September.