Valley First

Investments: No need to exit because of Brexit

June 29, 2016

Penticton, B.C.—Britain’s decision to leave the European Union has thrown the economy into a tailspin: global stocks are plummeting, the pound fell to its lowest rate in three decades and safer investments such as gold have seen big increases.

While the events of last week’s vote are no doubt historic, financial expert Robert Oleksyn has advice for local investors struggling to understand the longer term financial implications of the split.

“While the reactions to the referendum and implications have yet to be fully felt, it’s important to emphasize to investors that what the markets are experiencing is a period of short-term volatility,” says Oleksyn, who is an investment advisor at Valley First, a division of First West Credit Union.

“My advice to clients in such circumstances is to always remain calm. The worst thing you could do right now is veer from your long-term investment plan. Our investment advisors* structure portfolios to withstand risk and uncertainty. That being said, if you’re losing sleep at night, work with our advisor to reduce risk in your portfolio going forward.”

Oleksyn adds, “The markets typically overreact in such scenarios. This is a time where active portfolio management really matters, a financial advisor can help navigate the rough global economic seas and has the knowledge to take advantage of any opportunities that this event creates in the long term.”

While it seems like a natural decision to react, Britain’s exit from the EU starts with a formal notification of withdrawal in the fall followed by a two-year process of discussion and negotiation to complete.

“It’s in this time period that you should expect to see more conclusive trends and opportunities emerge,” says Oleksyn. “Close contact with your financial advisor in the coming months will be a real advantage to your portfolio’s overall health.”

*Securities and securities related financial planning are offered through Qtrade Advisor, a division of Qtrade Securities Inc., Member of the Canadian Investor Protection Fund. Mutual funds and securities related financial planning are also offered through Qtrade Asset Management Inc., Member MFDA.

About Valley First

Valley First is a premier provider of banking, investment and insurance services for residents and businesses in the Okanagan, Similkameen and Thompson valleys. As a division of First West Credit Union, B.C.'s third-largest credit union with 54 branches and 38 insurance offices throughout the province, Valley First brings innovative products, an extensive branch network and local decision making to the banking experience. For more information on Valley First, visit

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