Scotland has had enough of constitutional chaos

Date: 13 Jul 2016

Citywealth

Laura Knox, investment manager at Tcam, says that ‘Indyref2’ is unlikely unless there is sufficient support to guarantee a ‘leave’ result.

What would a second referendum mean for Scotland?

A vote in favour of remaining in the EU does not necessarily equate to a vote in favour of leaving the UK. It is looking increasingly clear that ‘Indyref2’ won’t be taking place unless there is sufficient support to effectively guarantee a ‘leave’ result. As well as this there is a feeling that we’ve all had enough constitutional chaos for now. Businesses have a lot on their plates dealing with the consequences of Brexit. Another Scottish independence referendum would only exacerbate the situation.

What trends do you see in the Scottish wealth sector?

In terms of wealth management, increased transparency has meant that clients are far more aware of industry standards. They can easily shop around for the best deal, which has increased the level of competition in the sector. The only firms that will thrive are those that are adding tangible value and have moved into digital and reporting and communication. That being said, clients are still willing to pay for good service.

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