Rick Loek of Onesta Wealth Management discusses Britain's EU exit vote. Markets are falling globally, though the US is less affected. Onesta's managers are reviewing portfolios and see this as a potential buying opportunity when panic selling hits.
Up to two years.
"4084-5983-8340-8459, 8383" (as spoken in the transcript).
Good morning. This is Rick Locke talking with you from Onesta Wealth Management. Having a brief conversation, paying attention to the news, much like you may very well be as well. So today we're talking about the fact that Britain is choosing to exit the European Union through their referendum. I understand it probably would take up to two years to actually accomplish this. In the meantime, the world markets are falling. The US Stock market is not taking it as severely as some of the other markets, which is reassuring. And what I want to reassure everybody and my customer base is that our money managers are looking at this very actively this morning to see what is going to be the impact on our portfolios. The thing I would point out to people right off the top is we are institutional money managers. And one of the big outcomes from this typically is there's a huge buying opportunity. When retail investors, individual investors, get panicky, they sell, the markets drop. And then we institutional money managers swoop in and find the buying opportunities and move forward with that fully. Expect some further communications from me later in the day as our money managers circle the table and come up with some ideas to share with us. To share with you. Thank you. And by the way, if you do have any concerns, feel free to call the office. 4084-5983-8340-8459, 8383. Again, this is Richard Locke with Onesta Wealth Management. Have an amazing day. Thank you.
