FATCA and Retirement Accounts

Hey AF


I know this is borderline solicitation but I figured the value to AF members and the folks in their networks is greater than say an ad for ‘CFAvMBAfro Sheen’ or ‘Bromion’s Short Stack Pancake House’.

As some of you know, I’m an advisor to both Canadian and U.S. residents. As a result of FATCA, most U.S. brokers are kicking non-resident clients to the curb and these clients are forced to find a new broker to take them on. As most in-country brokers are purging non-resident clients, its basically impossible to find someone to help unless you find me. I’ve had several clients in the past 6 months who were booted from Morgan Stanley and Merrill Lynch in the U.S. and were given about a week to find a new broker or be forced to liquidate and accept the 56% tax and penalty hit. Brutal.

PM me if you or anyone you know is a Canadian with IRAs or an American with RRSPs and I can give you more info. Its only a matter of time that folks in this position will need to move their assets to a cross-border broker of which there are virtually none.