View more on these topics

Investors look to shift assets out of UK amid gloomy outlook

Six out of 10 investors are now actively seeking to move assets out of Britain as a perfect storm looks set to hit the UK economy, a deVere Group poll warns.

The survey of more than 740 clients carried out by deVere Group comes as the pound plunged to its lowest level for a decade late on Sunday amid growing fears the UK is heading for a no-deal Brexit.

It also follows Monday’s report by the Office for National Statistics that finds the outlook for the general economic situation for the year ahead is worse than at any point since the final quarter of 2011.

deVere Group chief executive Nigel Green says: “There is a legitimate and growing sense amongst those who were polled that in order to build and safeguard wealth, assets should be moved outside of the UK.

“It comes amid a slew of negative official data and public sentiment regarding Britain’s economic outlook over the next few years.

“Clients have expressed that they feel there’s a closing ‘window of opportunity’ to transfer their UK-based financial assets within the next few months.”

FCA extends transition power for no deal Brexit

He points out clients’ fears are being driven by the UK’s slowing economy, weak global economic growth, the pound at a 10 year-low, the increasing possibility of an interest rate cut and the risk of a no-deal Brexit pushing the UK into a recession.

Green adds: “The poll underscores that the UK is no longer an attractive place for investors.

“The UK is now at a critical point – perhaps the most critical since the global crash. Many are simply not prepared to risk their wealth and are considering international options.”


DB transfer values and activity increase during July

Transfer values rose during July 2019 while the number of defined benefit transfers also increased, according to consultants XPS Pensions Group. It runs XPS Transfer Watch made up of two indexes that monitor market developments which affect transfer values and how much transfer business it has administered internally. The first index – XPS Transfer Value […]


Choosing DFMs – client service drops while fees stay top

There’s been a seismic shift among advisers towards outsourcing the investment management part of their financial advice process. The main beneficiaries have been discretionary fund managers. Financial advisers have long held ambivalent views of DFMs. Many advisers have always struggled to see what value a DFM would add to their clients’ investment performance and still […]


FCA confirms drawdown investment pathway reforms

Customers who enter drawdown without advice must be offered investment pathways by providers from 1 August 2020, the FCA says. The watchdog confirmed it will bring forward a range of measures to protect consumers in non-advised drawdown in a policy statement this morning. The changes are part of the Retirement Outcomes Review and have been […]

The investment clock

While Trump blazes blond in the political foreground, it’s easy to overlook the economic background to the new political dimension of 2017. Political risk will be a feature of the year: the unpredictable and untested Trump administration has already created uncertainty, which is unlikely to diminish, especially if protectionist rhetoric starts to outweigh promises of […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers. Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and thought leadership.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm