What does the post-Brexit landscape for UK Asset and Wealth Managers look like?
The UK has officially left the EU and entered a transition period until the end of the year, but the bottom line for AWMs has not changed: at the end of the transition period, or following a no-deal Brexit, the UK becomes a third country for regulatory purposes. UK firms will lose the passporting rights that currently allow them to distribute financial services into the EU single market or establish a branch in the EU.
Whilst certain EU legislation contains third-country equivalence provisions, the UCITS directive does not provide for any third country equivalence, and the provisions under AIFMD have not yet been activated.
As a result, post-Brexit UK Asset and Wealth Managers will not be able to act as management company for EU-domiciled UCITS and AIF products (except under limited transitional relief measures) and will need a permanent solution.
ONE Group Solutions, a fully licensed third party Management Company and AIFM, will customise a Brexit solution for you ensuring your continued access to the EU single market.
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We operate around the principle that if our people have a stake in the business, they will do a better job for our clients. We have a committed and stable team, as they see the benefit of long-term value creation through building long-standing relationships. We build value for clients, and their end customer.
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