In response to last night’s historic vote, we have to consider three key strands. First, as a business, we have been running a Brexit Mitigation Project based on the presumption of a “hard Brexit” since the referendum, and have planned accordingly. Therefore, we are ready for the business conditions, whether the outcome be a new referendum, a delay of Article 50, a deal or no deal.
The second strand concerns the effect on the markets. We are watching closely to understand the secondary effects on stocks and currencies, inclusive of sterling, and the specific industries that are tied to frictionless trade.
The third strand, and possibly the most important, is to understand how we as a firm, and individuals, can contribute to mitigating the risks associated with any outcome to our country. In particular the impact on the pensioners whose capital we look after. Most people would prefer to see an end to uncertainty. However, the sad truth is that continued uncertainty has prevailed, and there appears to be no clear plan B.