PIMFA warns of 'expensive and disruptive' no-deal Brexit

Wants three-part Brexit

The outcome of a 'no-deal' Brexit would be "disruptive and expensive", the Personal Investment Management & Financial Advice Association (PIMFA) has warned.

The adviser trade body said a no-deal Brexit remains a "distinct possibility" in the light of continuing differences and unresolved issues. It warned the people who would ultimately pay for any increase in costs or reduction in investment possibilities would be the clients of the firms it represents. PIMFA said it has consistently argued that a no-deal Brexit must be avoided, and that a broad-ranging and "well-founded UK/EU agreement based on principles of mutual recognition" should be in place by the end of a transition period. The current draft withdrawal agreement would make it ...