Financial Advisors for ExpatFIRE

7.5mo

5 Comments

Hi all,

Glad this group exists!

I'm currently working on my ExpatFIRE goal. I would like to speak to someone who is a financial advisor for moving to Canada and/or the UK to understand the financial and tax implications of moving. Bonus points if there are advisors/groups who understand the legal documentation that's needed. Anyone have any recommendations from people they have used in the past?

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Comments

[+] Del S · 7.5mo · 1 reply

Del S · 7.5mo

I'm no expert in any way and this is obviously not advice, but there are a few main things about Canada and living internationally in general I think could be important:

Buying local investments is hugely complicated because they are probably PFICs in the eyes of the US; Google that
Some countries prohibit buying US funds, which can be problematic when combined with #1 (see UCITS for the EU)
Many US financial firms either prohibit having US accounts without a US presence, or restrict accounts to sales only; terrible when matched with 1 and 2!
In Canada, 50% of a capital gain is counted as income
After moving to Canada, you must make a one-time election to treat US Roth accounts as a pension and never contribute a penny more , or help you (tax) God
When you move to Canada, the basis of your assets from the Canadian perspective only is the value on that day
Beware of trusts - a trust in the US is probably considered a "foreign trust" elsewhere and vice versa ... There be dragons

[+] Anonymous · 7.5mo · 2 replies

Anonymous · 7.5mo

Thanks Del S for this list. This is helpful. Unsure if you are not in the US anymore. If you are outside the US, did you ever consult a particular advisor to assist you with the move and its financial implications?

[+] Del S · 7.5mo

Del S 3 · 7.5mo

nobody but the internet was consulted! Sorry I can't be of help for good, person-based sources =/

[+] Del S · 7.5mo

Del S 3 · 7.5mo

Another thing to consider: financial advisors might not actually be the right people to consult. You may have a LOT of legal questions combined with finances and complexities of long-term planning.

I would argue the onus is almost on you to know enough to sniff out when folks won't actually meet your needs. Perhaps asking them non-leading questions around the above list is a good start, though.

[+] MAJP1 · 7.4mo · 1 reply

MAJP1 · 7.4mo

Hello,

I am new to this group.

I recently attended the Expatsi conference in San Antonio that was extremely informative. I made connections with the legal, financial, tax, real estate, investment, medical insurance and currency brokers, etc. We had free 30 minute sessions to discuss our specific questions for the cities within the countries we are considering.

I learned a lot and have access to all the people who can help me through the process.

I highly recommend connecting with Expatsi.com. The conference was a success and they now offer virtual conferences. Check them out.

[+] Anonymous · 7.4mo

Anonymous · 7.4mo

Thanks MAJP1 for this recommendation! Will check it out. Glad that the conference was helpful as well.

[+] ShipshapeShelly · 6.3mo

ShipshapeShelly · 6.3mo

Looks like the next Expatsi virtual conference is coming up Nov. 4-9, 2025.

In the speakers list here (

maw.heysummit.com

https://maw.heysummit.com/

), one tax pro and a few financial advisors are listed.

I’m experimenting with month-long digital nomad trips now, with my coaching business. Good luck researching how to move abroad!

[+] TropicalFI · 5.8mo

TropicalFI · 5.8mo

Hi,

Concerning the UK, I would recommend for you to buy on Amazon the book "RESET: How to Restart Your Life and Get F.U. Money: The Unconventional Early Retirement Plan for Midlife Careerists Who Want to Be Happy" from David Sawyer. You should be able to find it on Amazon. It is a really excellent book which is translating the US FIRE approach to the UK financial and tax system. Whilst it won't address your specific situation (especially as a US citizen relocating abroad), it should give you a useful general idea about how it works in the UK, with a FIRE angle (just be aware that the tax rules are currently evolving quite rapidly in the UK!).

Hope it helps!

[+] j-in-vancouver · 3.4mo

j-in-vancouver · 3.4mo

Did you end up locating a financial planner? Cross border planners with both US and Canada expertise exist but are hard to find esp if you want advice that is institution independent or fee for service. It's not a super competitive area.

You could contact Modern Cents. They have a waitlist but they could refer you elsewhere if needed.

www.moderncents.ca | Advice-only financial planning, Canadian and cross-border

Advice-only financial planning, Canadian and cross-border

Flat-fee, advice-only financial planning for Canadians and U.S./Canada cross-border families. CFP-led. No products, no commissions.