George Magnus, senior economic adviser at UBS, said: “Events are moving rapidly and despite the recent eurozone agreements, further shockwaves are sure to follow.
“So what does this mean for our industry and the adviser community? Investments, mortgages, it really doesn’t matter which markets we are talking about.
“For me the bottom line is the same and it is based on one simple truth – we cannot rely on things getting better any time soon.”
Magnus added that the solution was equally straightforward.
“We have to find ways of doing more business more efficiently and in better ways than ever before. We have to add more value to our clients,” he said.
“These may be tough times but investors and business owners still demand growth and in a flat market the only way to achieve growth is to outperform and of course...not everyone can.
“Not everyone is going to emerge as a winner.”
