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Questions answered

Please find below general queries about Brexit and its effect on investments. Your financial adviser is best able to answer specific questions about your investments.

 

1.    What are you doing to plan for Brexit?

 

We are looking into what the implications could be for all our customers, so that we are well prepared to ensure the best outcomes. As soon as the Brexit outcome becomes more certain we will be in a position to tell you whether and how you could be affected, and what solutions are available.

 

2.    What should I be doing to plan for Brexit?

 

If you have a financial adviser, they will be planning in the same way that we are so that they can advise you based on your own circumstances.

 

3.    What will happen to my policy Day 1 post Brexit?

 

Unless we contact you directly, and inform you otherwise nothing - the majority of our product features will be completely unaffected by Brexit. The value of your investment is driven by market values. You should speak to your financial adviser and review your current asset allocation in preparation for Brexit.

 

4.    What negative effect could Brexit have on my investments?

 

All investments can go up and down in value over time and returns are not guaranteed. The main issue that can cause value to fall is market sentiment. If lots of people worry about the outcome and start to sell up their investments then values could fall. For the most part though, the basic principles of long-term investing remain the same – short-term falls do not necessarily impact on long-term goals. Visit our 'Peace of mind' page for more information.

 

5.    Now the UK is leaving the EU, where is the safest place to invest and should I consider holding more cash or withdrawing money from my portfolio?

 

We are unable to give you advice and you should speak to your financial adviser before making any investment decisions. However, it is important to bear in mind that the outcome of Brexit and the implications are not yet known. Cashing in investments or holding money in cash is not free from risk as it may not protect you from inflation and/or give your money the best chance to grow. Visit our 'Peace of mind' page for more information.

 

6.    Should I adjust my portfolio of funds in light of Brexit?

 

We are unable to give you advice and you should speak to your financial adviser before making any investment decisions. However, it is important to bear in mind that the outcome of Brexit and the implications are not yet fully known.

 

7.    What does leaving the EU mean in terms of holding European funds (e.g. European equity funds)?

 

There may be a loss of tax advantages for some European funds. If this affects any funds you are invested in we will contact and your financial adviser you to explain your options.

 

8.    What happens if markets do take a downturn as some have predicted – what will be the short- and long-term implications for my investment?

 

Nobody knows how investment markets could be affected by Brexit and what the implications will be. However, it’s important to remember that most investments should be seen as a medium- to long-term commitment. Your financial adviser can help you to devise an investment strategy which is appropriate for your investment goals and the amount of risk you wish to take.

 

9.    How can I monitor the impact Brexit is having on my investments?

 

You can check the value of your investments using our online services. If you would like more information about our online services, or to find out how to register for them, please contact us or visit our webpage.

 

10.    I’m worried how my funds will perform as a result of Brexit, what options do I have?

 

The outcome and implications of Brexit are not yet known and it is important to remember that investments should be seen as a medium- to long-term commitment. In the first instance, you should speak to your financial adviser about your options and any investment decisions you are considering. We are not able to give you financial advice. Should you wish to switch funds or check the value of your investment, you can do this using our online services or by contacting us.

 

11.    Can I cash my investment in or switch into cash?

 

In the first instance, you should speak to your financial adviser about your options and any investment decisions you are considering. We are not able to give you financial advice. Should you wish to switch funds or withdraw money from your investment, you can do this using our online services or by contacting us. There may be tax implications and charges for surrendering your investment. It is important to remember that cashing in investments or holding money in cash is not free from risk as it may not protect you from inflation and/or give your money the best chance to grow. Visit our 'Peace of mind' page for more information.

 

12.    I’d like to make some changes to my investments, how can I do this and how long does it take?

 

In the first instance, you should speak to your financial adviser about your options and any investment decisions you are considering. To make changes to your investment you can use our online services or contact us. The length of time it will take to implement any changes will depend on the type of change you wish to make; however we will endeavour to deal with your request as soon as possible.

 

13.    What are you doing to protect customers against the potential for risk of scams and fraud?

 

We continue to monitor fraud trends proactively and engage with clients and advisers to educate and improve anti-fraud systems and controls. In doing so we aim to protect our clients from risks of scams or other frauds. Please also see our 'Stay safe' page.

 

14.    What effect will Brexit have on my Old Mutual Wealth policy?

 

The outcome of Brexit and the precise impact it will have is not yet known. However, we are looking into what the implications could be for all our customers, so that we are well prepared to ensure the best outcomes. You can be assured that we are a strong, secure organisation and that we have our customers’ best interests at heart.

 

15.    How secure are my investments with you?

 

The more financially secure and established a company, the less chance there is of it being unable to meet its financial liabilities. You can be assured that we are a very strong and stable provider.

We are part of Quilter plc, a leading provider of advice, investments and wealth management both in the UK and internationally, managing over £100 billion of investments for over 900,000 customers worldwide. All the locations we work from (including our offshore centres) are well regulated and secure.

When you invest with us, your money and assets are segregated and ring-fenced from the company’s own money, and we provide detailed financial reports to our regulators, so that they can be assured we have sufficient assets to meet our liabilities.

In the unlikely event that a financial provider becomes insolvent, investor protection schemes can act as a safety net for investors, allowing them to claim compensation. Different kinds of investments are protected in different ways. Your adviser can explain the various regulations and compensation arrangements that apply in each case.

 

16.    Will my investor protection rights be impacted by Brexit?

 

At the current time we believe there is no reason why the protection rights for UK investors might be affected by Brexit. There may be some implications for investments held in Ireland where it is possible that the Financial Services Compensation Scheme may no longer apply. If you hold such investment with us we will be in contact with more details.

 

17.    I don’t have a financial adviser – what should I do?

 

Our online search tool can help you find an adviser in your local area who is registered to do business with Old Mutual Wealth. Visit www.oldmutualwealth.co.uk/find

 

18.    What tax implications will there be for me as a result of Brexit?

 

For the most part, the current tax situation for you and your policy remains the same. There may be a loss of tax advantages for some European funds. If this affects any funds you are invested in we will contact and your financial adviser you to explain your options.

 

19.    Can Old Mutual Wealth /Quilter give me financial advice?

 

No, we are not able to give you financial advice. Our online search tool can help you find an adviser in your local area who is registered to do business with Old Mutual Wealth. Visit www.oldmutualwealth.co.uk/find

 

20.    What impact does the vote to leave the EU have on Old Mutual Wealth in the UK?

 

We do not anticipate any material negative impact. We are a very strong and stable provider. We are part of Quilter plc, a leading provider of advice, investments and wealth management both in the UK and internationally, managing over £100 billion of investments for over 900,000 customers worldwide (as at 30 September 2018). All the locations we work from (including our offshore centres) are well regulated and secure.

 

21.    Is your cash deposit/Blackrock Cash fund still invested in the market?

 

No, our cash options are all invested in a range of cash deposits with various banks and similar institutions.