Parliament has voted to request an extension to the Brexit negotiation period. As a result, the United Kingdom may not be exiting the European Union as planned on 29 March 2019.
While the precise nature of the UK’s future relationship with the EU remains uncertain, at Brewin Dolphin we are taking steps to ensure we are able to deal with a range of potential outcomes that could arise as a result of the ongoing Brexit negotiations.
For many 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. However, at the end of the extension period, there may be some changes to how we deliver services to clients residing in the EU/EEA.
We are currently seeking clarification and will issue further updates once known. We will contact clients individually with more information, as soon as we are able to.
As to the impact of Brexit on the markets over the coming weeks and months, we continue to closely monitor and consider the investment implications. Our teams remain ready to react to any suitable opportunities that may arise from ongoing market volatility, so we can continue to provide 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.
Our latest Brewin Dolphin Insight, published on 15 March 2019, explores the current state of the Brexit negotiations and what they may mean for the markets and investments.
In the article, Guy Foster, our Head of Research, comments: “Despite the continued uncertainty, overall the UK stock market backdrop looks reasonably benign. This year we have already seen a better trading performance from UK equities than at the end of 2018, partly reflecting the fact that some of the worst fears about the impact of Brexit on the UK economy now look unlikely to be realised.
It is important to keep Brexit in perspective. For international investors there are bigger issues at stake. Global growth has slowed markedly in recent months and there remain plenty of potential sparks for further volatility in the year ahead, from Italian banks to President Trump’s unpredictability. But we think global growth would have to grow much worse before cash or bonds look more attractive than equities.
Heightened turbulence – be it the result of Brexit or other macroeconomic factors - can be unnerving but can also offer the chance to pick up quality stocks, or add to existing positions, at more attractive valuations. Currently, valuation anomalies in the UK stock market are not dramatic, but we remain alert to new opportunities that could arise from a pick-up in volatility”.
The full document can be read here
We will provide further updates as events unfold.