Recent research suggests June's Brexit vote might be a good thing in terms of business for UK financial advisors, as well as for some European real estate markets.

Almost two-thirds (64 per cent) of independent financial advisors in the UK believe that the momentous Brexit vote will have a positive impact or no impact at all on their business or their clients, according to a recent poll by Russell Investments.

Russell Investments surveyed 95 advisors online and at company events in London, Glasgow and Birmingham.

In Birmingham, an advisor justified a positive outlook, explaining that “a great deal of time” had been spent educating clients about diversification and that this had “paid off” in the case of Brexit. Advisors said that the event gave them a reason to contact their clients again to reassure and review investment plans.

“The timeline and logistics around Britain’s exit from the EU still remains unclear. However financial advisors can provide value to clients by making sure they understand the effects each scenario could have on their investments, thus demonstrating the importance of regular correspondence between advisors and their clients,” said Nick French, managing director and head of UK wealth management at Russell Investments.

Matching the regional split of the referendum result, advisors polled in London and Scotland were the most negative on the vote to leave the European Union, at 34 per cent and 31 per cent respectively, compared to 25 per cent in Birmingham.

Interestingly, 55 per cent of online respondents had a negative outlook – perhaps a representation of younger generations.

Impact on European real estate

Separately, on the impact of the Brexit vote on European real estate, prime assets in the German cities, as well as Paris and the Nordic capitals, face a surge in demand, according to research by Savills. Meanwhile, secondary markets are more exposed to negative impact, weaker demand and price corrections, the firm noted.

In addition, some of the cities competing to attract a share of banking sector activity, such as Paris, Frankfurt, Amsterdam, Dublin and even Madrid, may see some positive effects on their office occupational and investment markets.

“As no country has left the EU before, the Brexit implications are still unknown. We expect investors to return to quality focusing on prime markets and assets benefiting from the stability and favourable returns of the prime European real estate sector,” said Eri Mitsostergiou, Savills' director of European research.