After much media hype and speculation of results, on the 23rd of this month the people of Britain voted in a referendum for their country to either remain as a part of the European Union or to exit it. You will have heard and read the media refer to this referendum as “Brexit” which has been derived from ‘Britain exit’.
The result of this referendum is for Britain to leave the European Union. This result was largely unexpected. Unfortunately our share market and share markets around the world react negatively towards any news that is unexpected or creates uncertainty. In this light we thought it would be beneficial to provide some sensible information about “Brexit” in case the media haven’t adequately provided this for you without exaggeration.
We have attached what we think is a good summary that has been provided to us by BT. We expect that our share market will continue to show volatility in relation to this news and that this will most likely be the greater of any impact that this news will have on Australians. We also wanted to remind you that we believe the most important aspect for you is that you have a sound financial plan and that you stick to the plan. Click to read more on all things Brexit!