Cross Border Clients
MOVING TO CANADA FROM THE U.S.
Many Americans living in Canada have found themselves in the unfortunate situation of being 'orphaned' by their existing U.S. financial advisors as most U.S. Broker Dealer and Investment Advisory firms are not properly registered to do business in Canada. The case study below illustrates how our group at Sartorial Wealth of Raymond James Ltd. can help solve the issue residents of Canada with U.S. retirement accounts have faced.
Retire In Canada (The Case Background)
Jim and Janis had lived in the U.S. their entire lives until they relocated to BC when they were in their 30's. Jim was a corporate executive and Janis was a homemaker. They had four children and built their lives in Canada for the next 25 years.
Jim and Janis have done a good job focusing on RRSP contributions and Jim was also fortunate while working to accumulate a significant concentrated position in a blue chip dividend paying stock in his IRA and 401(k).
Cross Border Financial Advisor Required (The Case Issue)
For the past 25 years, they were investing with two different investment advisors, one for their Canadian portfolio, and another in the U.S. for Jim's IRA and 401(k). Then one day out of the blue, Jim received a call from his U.S. investment advisor saying the rules had changed and he would no longer be able to service Jim's IRA and 401(k). He told Jim he had 30 days to find a new advisor or they would liquidate the IRA and 401k accounts and mail him the net proceeds.
Cross Border Financial Advisors At Sartorial Wealth Of Raymond James (The Case Solution)
With advisors registered across Canada who are licensed both in the U.S. and Canada, Sartorial Wealth of Raymond James Ltd. can help. Not only would you avoid this taxable (and potentially penalized) IRA and 401(k) distribution, we would also be able to create a disciplined investment strategy and comprehensive retirement income plan that would take your entire portfolio into consideration.
Feel free to schedule a call and we would be happy to give you a complimentary analysis of your financial situation.
Raymond James (USA) Ltd. All rights reserved. Raymond James (USA) Ltd. (RJLU) advisors may only conduct business with residents of the states and/or jurisdictions for which they are properly registered. Therefore, a response to a request for information may be delayed. Please note that not all of the investments and services mentioned are available in every state. Investors outside of the United States are subject to securities and tax regulations within their applicable jurisdictions that are not addressed on this site. Contact your local Raymond James office for information and availability. This website may provide links to other Internet sites for the convenience of users. RJLU is not responsible for the availability or content of these external sites, nor does RJLU endorse, warrant or guarantee the products, services or information described or offered at these other Internet sites. Users cannot assume that the external sites will abide by the same Privacy Policy that RJLU adheres to. Investing in foreign securities involves risks, such as currency fluctuation, political risk, economic changes, and market risks.
