We thought it would be it would be beneficial to comment on the UK's exit from the European Union, better known as "Brexit."
For global markets Brexit caused a significant hit; however, here in the US we are recovering. The UK will see changes in growth, inflation, and asset prices. These shifts in Europe could push more risk away from the United States but the ultimate impact of this decision on a global scale will take several years to be realized. On a positive note, there will be no unraveling of currency since the UK never used the EU dollar, and the EU could benefit by having a more cohesive plan without the UK's influence, which was significant.
The United States and our markets have seen volatility in 2016 along with a lot of uncertainty as the presidential election draws closer. To counter this, we believe in the use of risk management to combat the volatility seen in the markets and preserve a strong, long-term approach. It is through long-term investments and using the tools we have in place to manage risk that will continue to withstand moments of high volatility and uncertainty.
Jennifer K. Hicks, CFP ®