Brexit What Should You Know?

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Adam E Bray CFP®
Chief Investment Officer

June 27, 2016

     We want to make you aware of a situation we are continually monitoring. On Thursday British citizens voted to leave the European Union in a decision known as "Brexit." Although there are a number of things that we cannot predict at this time, here is what we know:

     • The Dow Jones Industrial Average has fallen -4% since the vote and markets were down 200 points this morning
     • UK stocks have fallen -5% since the vote
     • The Pound Sterling has decreased in value by -12% since the vote

     The success of Europe’s economy can impact US markets, and we are prepared to work on a course of action should it be warranted. The British economy may take a significant hit, but it does not appear that Brexit will cause another US recession.

     I want to emphasize the importance of remaining patient and avoiding any knee-jerk reactions. We work to diversify our portfolios for long-term success. We believe that staying focused on this goal and tuning out the noise surrounding the uncertainty of this situation is important.

     We will continue monitoring this situation and will tell you if there is anything that you need to do. At this time, we are not recommending any changes to your portfolio.

Best Regards,

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Adam E Bray CFP®
Chief Investment Officer