Cleveland, OH, August 28, 2016 --(PR.com
)-- Azim Nakhooda, a partner and principal of Cedar Brook Group, one of the region’s largest independent wealth management firms, considers the markets in the wake of Brexit to offer a strategy for individuals' financial portfolios.
On June 23, Great Britain passed a referendum to become the first country in the European Union’s (EU) 60-year history to leave. The vote sparked concerns about the impact of Brexit on global economic growth and spawned volatility across financial markets worldwide.
According to Mr. Nakhooda, "The ensuring short-term result in capital markets has been fairly predictable as an immediate market reaction to bad news creates a risk off response that drives stock prices down and perceived quality fixed assets up."
Brexit was a shock but, ultimately, a local one. Mr. Nakhooda believes that there are larger issues facing the global economy. Just as the world economy has never been more globally dependent, the rise of populism, isolationist leaders, and similar rhetoric is potentially cutting off the efficiency of world markets in some areas. Brexit feeds into the growing narrative, globally, that people are fed up with very high corporate profit margins and with labor getting the short end through no/low wage growth and continued unemployment.
“In the aftermath of Brexit, investors have realized that forecasters may have been overstating the risk of an immediate global recession and that there may be even less risk when it comes to U.S. companies. Once again, taking the time to analyze both the global and domestic situation in the context of an individual’s financial goals, is a wise approach,” explained Mr. Nakhooda.
About Cedar Brook Group
Headquartered in Cleveland, OH, with offices in West Bloomfield, MI, and Palm Beach Gardens, FL, Cedar Brook is one of the largest independent wealth management firms in the region. Cedar Brook’s seventy-plus professionals deliver customized, personal services including comprehensive wealth strategies, investment and insurance advice, retirement plan consulting, and group benefit programs to physicians, corporate executives, privately held business owners, and families. Cedar Brook has been recognized again as a Top Workplace in Northeast Ohio by Workplace Dynamics according to the Plain Dealer's study. The firm offers securities through Securities America Inc., member FINRA/SIPC. Advisory services are offered through Securities America Advisors Inc., an SEC Registered Investment Advisor. Cedar Brook Financial Partners LLC dba Cedar Brook Group and the Securities America companies are not affiliated.