Advisers back Remain as UK goes to the polls


The Remain vote appears to be winning out among advisers as the UK prepares to go to the polls.

A Money Marketing poll of 553 advisers saw 56 per cent backing continued membership of the EU, while 44 per cent back Brexit.

The figures were correct as of Wednesday evening.

Investment Quorum chief executive Lee Robertson says: “We don’t think it is right to tell clients whether a Brexit is better or worse. However, with my head I’d vote in, but with my heart I’d vote out.

“We should remain because the economics of the UK staying in Europe is important and it is a dangerous world for a country to be alone. But at the same time, the European model is broken: there is too much disparity among too many different countries.

“However, it is better to sort these problems out than walk away.”

Harvest Financial principal Julian Stevens says the UK is better off being freed of its ties with Brussels.

He says: “We are better off out of Europe to take back control of our legal system, our borders and stop spending on others. We don’t have to defer to Brussels and as for trading agreements  they are anti-competitive.”

Thameside Financial Planning director Tom Kean believes either result is “unattractive” but is leaning towards Leave.

He says: “Europe is a mess and both the Leave and Remain options are unattractive but I’d rather to take the hit now than later. Europe is going to fail either way because it changed from trading partnership to a huge social demographic exercise.

“The fund managers we see are also relaxed either way, they only expect volatility in the short term. We haven’t moved anything in our portfolios we don’t see what else they can do than stay put.”

HA7Consulting consultant Harry Katz says: “Although campaigning has been bad from both sides, there is no doubt from a financial point of view we’ll be badly hit if we leave. You can see that just by looking at how markets react to even small shift towards Leave in the polls.

“We should be a member, but not a reluctant member and make the EU what we want it to be, not what it is now.”