OneFamily and the EU Referendum

Posted in: Corporate Last updated: 24 Jun 2016

The UK has voted to leave the European Union. The final result was 51.9% in favour of Leave and 48.1% to Remain in the EU.

The result has caused volatility in the market.  OneFamily is a successful and growing mutual, with over £7bn of funds under management, a strong balance sheet and a diverse portfolio of products across savings, investments, protection and lifetime mortgages.  We are confident that our strength and stability will enable us to ride out any short-term bumps in the market and ensure that we continue to look after your investments in the long-term.

It’s also worth bearing in mind that there will be an official two year process for the UK to negotiate its exit from the EU and this process won’t begin until after the appointment of a new Prime Minister some time into October. Nothing is expected to change fundamentally in terms of the UK’s place within the EU for at least the next two years.

We would also like to reassure all customers that cash deposits of up to £75,000 (and £150,000 for joint account savers) and investments (for example unit trusts or investment funds held in a stocks and shares ISA) of up to £50,000 continue to be protected by the Financial Services Compensation Scheme. For more information about the Financial Services Compensation scheme click here.

If you are concerned you may wish to seek independent financial advice. Because we don’t provide advice on our products, you will need to discuss your situation with a suitably qualified independent financial adviser who’ll be able to offer advice on your entire investment portfolio.

If you don't have a financial adviser, then the following links will provide some options:

unbiased.co.uk thepfs.org