Cross-Border Clients
A cross-border advisory team that enables you to keep your Canadian and US accounts in one place
Our clients are American and Canadians who find themselves in the unique situation of having investment accounts on both sides of the border. This situation presents specific investment management and planning challenges, where expert advice is difficult to obtain. Simultaneously managing wealth in both countries can be complicated.
Our Clients Include
- Canadians who worked for American firms in America and now retire in Canada
- Canadians retiring in the US due to warmer weather.
- Current cross-border workers.
- Canadian residents moving to the US
- Americans living in Canada.
- US residents who expect to inherit Canadian dollars
How We Help
Our team at BLA Private Wealth works closely with clients to create a strategy that encompasses their needs and plans for their cross-border accounts between Canada and the United States.
We are part of Raymond James (USA) Ltd., which is part of the Raymond James Financial family of companies. Raymond James (USA) Ltd., or RJLU, is a Canadian based US registered investment firm, which offers integrated cross-border wealth management solutions to Americans living in Canada, and Canadians living in the US.
RJLU enables US resident clients to hold both Canadian and US currency accounts. This allows Canadian equities and Canadian dollar denominated fixed income to be added to client portfolios without having to settle in US currency, thus avoiding foreign exchange spreads.
As RJLU advisors, we are licensed and regulated in both Canada and the US, and are uniquely positioned to help clients create a strategy for their cross-border accounts that fully encompasses their personal needs. We maintain professional networks to assist clients with planning, taxation and legal services as required. We also advise clients on cross-border issues, such as Passive Foreign Investment Company (PFIC) rules and IRA Rollovers. As well, our US clients can gain expert access to quality Canadian investments with our assistance.
Through a single point of contact, we manage:
- Discretionary and non-discretionary portfolio services in both currencies
- Corporate accounts in Canada and the US
- Trust accounts in Canada and the US
- RRSPs and RRIFs for Canadians living in the US
- IRAs for Americans living in Canada
- Investments for Americans wanting Canadian securities in Canadian dollars
- Investment accounts for US resident clients
Common Scenarios and Solutions
Click on the following to see the solutions we offer to some common cross-border scenarios.-
Canadians tend to move to the United States to try to escape the cold or to follow an employment opportunity. When they do, they can find themselves in the unfortunate situation of being 'orphaned' by their existing Canadian based investment advisor as most Canadian investment advisory firms are not properly registered to do business with Canadians in the United States.
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An American living in Canada can end up in the unfortunate situation of being 'orphaned' by their existing U.S. based advisor as most U.S. broker dealer and investment advisory firms are not properly registered to do business in Canada.
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Inheriting money from a Canadian relative? The weakness in the Canadian dollar versus the U.S. dollar can mean you will be in the unfortunate situation of receiving 15–25% less than you thought your inheritance would be. We can assist you by creating a disciplined investment strategy in Canadian dollars, and when there is a better time or a particular need for U.S. dollars, we can handle the foreign exchange conversion for you.
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.
