While the precise nature of the UK’s future relationship with the EU remains uncertain, at Brewin Dolphin we have been taking steps to ensure we are ready to deal with a range of outcomes that could arise as a result of the ongoing Brexit negotiations.
For most of our clients (resident in the UK or outside the EU/EEA), Brexit will not result in any changes to the services we provide or the way in which we deliver these services.
For our clients based in the EU/EEA, we have explored whether Brewin Dolphin will be able to continue providing services in the event of a No Deal outcome. The reality is that it varies country by country and therefore some clients will be impacted more than others due to the regulations in their country of residence. As a result, we may need to make changes to how we interact with our clients.
We are still awaiting clarification from a number of regulators in Europe as to the impact of a ‘no deal’ outcome. Until we receive that clarification, we will continue to manage your affairs while respecting local laws. We will contact clients individually with more information, as soon as we are able to. In the meantime, clients with UK tax wrappers should consider their ongoing tax position and check this with a suitably qualified local tax adviser.
If a deal is agreed, we expect a transitional arrangement to be put in place until the future trading relationship is confirmed and minimal changes are expected during this time.
In the run up to exit day and beyond we do expect to see some short-term volatility in the markets. As always, we are monitoring events closely and considering the long-term investment implications. As a firm, we have experience of managing our clients’ interests during such periods, and as ever we encourage you to focus on the long-term outcomes.
Our teams remain ready to react to any suitable opportunities that may arise from any such market volatility, as we continue to work for the best outcomes for our clients’ investments and financial objectives.
If you have any questions about Brexit and how it might affect your investments or the service we provide, please get in touch with your Brewin Dolphin contact in the usual manner.
We will provide further updates as events unfold.
In a Brewin Dolphin Insight, published on 28 October 2019, we explored what the extension means for the markets and investments.
''There are strategies we deploy to help mitigate investment risk. Portfolios are diversified across a wide range of assets and geographical regions in order to minimise any potential stock market shocks. While one asset or area of your portfolio may suffer losses, another may produce gains. Focusing on the long term and your original investment goals may also help prevent knee-jerk reactions which could crystallise losses.''
''We continue to believe that equities look appealing for long term gains, and any turbulence that lies ahead may present us with an opportunity to invest in quality stocks at attractive valuations. While many investors may fear uncertainty, it does create opportunities for stock pickers across all areas of the market.''
The full document can be read here