Investors urged to Trexit-proof their wealth
May 24, 2019 (Investorideas.com Newswire) UK Prime Minister Theresa May's departure demands that investors move to mitigate risks to their wealth, affirms the CEO of one of the world's largest independent financial advisory organizations.
The warning from Nigel Green, chief executive and founder of deVere Group, which has $12bn under advisement, follows Mrs May's announcement that she is to quit as leader of the Conservative Party on June 7, during an emotional statement.
Mr Green notes: "The pound – the main market bellwether since the UK voted to leave the EU - rallied immediately against the euro and dollar, before giving up its gains, following Theresa May's not so shock resignation as Prime Minister.
"The search for a new Prime Minister is now on and this is likely to bring further political and economic uncertainty for the future of the UK."
"Uncertainty, typically, causes dips in confidence in the market, meaning that the pound and UK-based assets could be expected to decrease in value as a result."
He continues: "Investors will be watching the Conservative party leadership contest keenly. The fate of the value of the pound and UK-based financial assets will be shaped by Mrs May's successor.
"The next PM is likely to be an ardent Brexiter, such as Boris Johnson or Dominic Raab, who could push for a no-deal Brexit. This would cause more downward pressure for sterling, amongst other assets.
Mr Green concludes: "With the uncertainty intensifying due to 'Trexit', investors in UK assets should mitigate risks to their wealth by ensuring their portfolios are properly diversified geographically and by asset class and sector.
"Exposure to equities and bonds, from as many different issuers as possible will help safeguard their savings from this uncertainty and take advantage of the opportunities that will inevitably be presented."
t: +44 207 1220 925
deVere Group is one of the world's largest independent advisors of specialist global financial solutions to international, local mass affluent, and high-net-worth clients. It has a network of more than 70 offices across the world, over 80,000 clients and $12bn under advisement.
This news is published on the Investorideas.com Newswire - a global digital news source for investors and business leaders
Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investment involves risk and possible loss of investment. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Contact each company directly regarding content and press release questions. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. More disclaimer info: https://www.investorideas.com/About/Disclaimer.asp Learn more about publishing your news release on the Investorideas.com newswire https://www.investorideas.com/News-Upload/
Additional info regarding BC Residents and global Investors: Effective September 15 2008 - all BC investors should review all OTC and Pink sheet listed companies for adherence in new disclosure filings and filing appropriate documents with Sedar. Read for more info: https://www.bcsc.bc.ca/release.aspx?id=6894. Global investors must adhere to regulations of each country.