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American Citizen – Canadian Citizen/Resident 20+ years Returns to U.S.

Executives and professionals traverse the Canada/U.S. border to pursue career opportunities. This can sometimes lead to having their investment assets scattered between varying plans, firms and advisors. The case study below illustrates how the Private Client Division of Raymond James (USA) Ltd. has helped.

The Background

William is a medical specialist who completed his medical training in Canada and launched his career in Montreal. After several years working for the pharmaceutical industry in Montreal and Toronto, he received a plum job offer in Dallas. 

William did a good job focusing on RRSP contributions over the years and once those contributions were maximized started to build a sizeable non-registered investment account. He also had a small IRA with a Florida based advisor.

The Issue

When William decided to relocate he could leave his RRSP investments with his Canadian advisor but would have to move his non-registered investment accounts to a U.S. brokerage. He had his primary investment advisory relationship and the majority of his wealth with his Canadian advisor. Now this relationship would be partially severed.

The Solution

His Raymond James financial advisor is licensed both in Canada and the U.S. through Raymond James (USA) Ltd. William will no longer need to move his assets to an advisor in Dallas and begin another financial advisory relationship. His Raymond James (USA) Ltd. advisor is able to create a disciplined investment strategy and financial plan with his North America wide assets to help him achieve his financial goals. With the multi-currency platform, William is able to retain Canadian assets in Canadian currency to wait for a more favourable time to convert to U.S. dollars. He can also hold an IRA with his Raymond James (USA) Ltd. advisor.