Pension transfers put on hold due to Brexit

“This is particularly the case with large pension transfers when the money is being invested for the first time. There’s nothing wrong with hedging their bets though: having a very cautious portfolio to start with perhaps.”

Craig Harrison, managing director at Creative Wealth Management, said: "We are certainly seeing a number of clients who have concerns about investment at the current time.

"As all advisers will know there are always a number reasons not to invest and if we paid too much attention to them we would have a lot of funds held in cash.

"There are countless studies that are supportive of the old adage that it's not the time you enter the market but the length of time you spend in the market.

"When explained properly most investors and clients with transfer values appreciate that trying to time the market is a fool’s errand."

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