After three years of the unending tortuous shambles that is Brexit, we now have a December election that is hoped to give clarity of direction to our political leaders, but will it?
Whatever personal views you may hold in connection with the UK’s relationship with the European Union, the continual uncertainty about Brexit is not the only lump of coal in our Christmas stocking this year. The US/China trade war appears to creep closer to being resolved but we have seen this before so, no guarantees there! Germany seems to be edging towards recession and the ongoing protests in Hong Kong have plunged its economy into decline for the first time since the global financial crisis. Here in the UK, some investors are casting weary-eyes towards Westminster, with fear of a no-deal Brexit now replaced by the threat of a Corbyn-led Labour Government!
So, in the middle of such unsettling events, where does this leave your investments?
A recent survey by UBS’ Global Wealth Management division reports that more high-net worth British investors believe Brexit’s impact on the UK economy will be positive. On the other hand, sources in Switzerland have reported that the number of Swiss bank accounts opened by UK Nationals has trebled in recent months. If Labour appears to be gaining ground in the lead-up to the December election you can logically expect that number to go up even further.
At Lubbock Fine Wealth Management, we firmly believe that this is not a time to over-react. Investment is seldom a short-term thing. The goals you had when choosing your investments have almost certainly not radically changed. The key to safeguarding your investment assets in a challenging economic and political climate is to make sure your portfolio is diverse, to clarify exactly how much risk you are prepared to live with, to make use of your wealth advisors at LFWM and, above all, hold your nerve.
Feel free to get in contact with our Wealth Management Director, Andrew Tricker firstname.lastname@example.org for further advice.