Plotting A New Course: Brexit – The Financial Advisory Perspective

Uncertainty

The obvious statement is that the UK's vote to leave the EU creates a period of uncertainty. That period could be quite long as detailed negotiations are unlikely to start until September 2016 and once Article 50 is triggered there is a two year negotiation period (unless all EU countries agree to extend it).

The key uncertainties are the lack of clarity over the UK's future trading relationships in goods and services (including financial services) with Europe and the rest of the world, the changes required to UK legislation where it has followed EU laws and the changes in rules on freedom of movement of people.

There are many potential models which are being discussed and until there is some political stability and importantly a new Prime Minister to set a negotiating strategy the picture will not become clearer.