On June 23rd, the United Kingdom’s vote to leave the European Union shocked global markets. While the long-term implications of the referendum remain unclear, The Prosperity Consulting Group is closely monitoring the aftershocks of the UK’s decision.
What you need to know:
- This is the first time a member country has chosen to leave the European Union
- Expected changes of the economic landscape and future regulations remain uncertain
- Markets may be anticipating trade barriers resulting in lower cash flows, causing a drop in prices
- The pound plunged to its lowest level since 1985
- Dollar and Yen are gaining as investors flee riskier assets
- Terms of the UK exit are unclear and will be negotiated in the coming years
- The UK will have up to two years to negotiate a withdrawal. They remain subject to EU laws and regulations during this time.
Remember, The Prosperity Consulting Group’s investment philosophy focuses on diversification to minimize the impact of heightened volatility. Historically, investors who remain in well-diversified portfolios are rewarded over time.
If you have any questions, we are here to help. Do not hesitate to call us at (410) 363-7211 or email us at [email protected]
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