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Majority of advisers think Brexit will be good for business

The majority of advisers think Brexit will be good for business, research by MetLife shows.

A survey conducted as part of MetLife’s quarterly market review finds 67 per cent of advisers expect Brexit-related advice to increase this year. Around 68 per cent of advisers are optimistic about business generally while 56 per cent plan to hire more advisers.

However the research also shows the uncertainty in investment markets during the two-year Brexit process is a major concern for 74 per cent of advisers.

The implications of Brexit on investment returns across asset classes is the main challenge for investment planning, the majority of advisers said, ahead of market volatility (58 per cent) and the impact of European elections (50 per cent).

Richard Evans, intermediary development manager at MetLife UK says: “Equity markets have been buoyant since the EU referendum result with the FTSE 100 up more than 16 per cent since 23 June. However the formal triggering of Article 50 means the Brexit process is now real with the clock ticking on the UK’s departure from the European Union, which potentially heightens sensitivity to the twists and turns of negotiations.

“Advisers are clearly concerned that clients in traditional drawdown are exposed to volatility and uncertainty and believe Brexit is as much of a risk as longevity. The market boom since the referendum has benefited clients but it may now be time to look at guaranteed solutions as a way to protect those gains.”

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