By Nick Eatock, CEO of Intelliflo
On 18 September Scotland will decide whether it wants to remain as part of the UK or go it alone. With conflicting information about what this will mean for the people living there, it’s hard to call which way they will vote but it’s fair to say there appears to be more support for leaving the UK than was predicted by politicians and pollsters this time last year.
Whether or not leaving the UK would be a good thing for Scotland to do only time will tell but one thing is for sure, financial advisers will be in the front line of dealing with their clients’ concerns about their personal finances should the vote be yes.
Is the industry ready for this? Our own poll shows that while four out of five financial advisers based in Scotland are opposed to the country leaving the UK, around a third believe that, if it does, it will have little impact on their business. This is far from the truth. Indications are that a yes vote could have far-reaching implications for people with savings, pensions and mortgages, both for Scottish people and those living in the rest of the UK.