Frequently Asked Questions
What makes Cross Border Wealth unique from other financial services firms?
Unlike most financial services firms that provide all kinds of financial products and services to everyone, our firm differentiates itself by focusing on providing specialized solutions solely for US-connected global citizens.
What products and solutions do you offer?
Our firm offers a comprehensive suite of specialized wealth management solutions for US-connected cross-border individuals and their families. These include but are not limited to retirement planning focused on managing 401k or IRA accounts left in the US or UK, personalized investment advisory, tax-efficient investing strategies, and estate planning.
Who are the clients that you serve?
Instead of spreading ourselves too thin by attempting to be everything to everyone, we’ve made the decision to focus solely on US-connected cross-border citizens and their families.
Americans Living Abroad: US citizens and Green Card holders currently living abroad and require assistance with managing their finances and complying with their ongoing US tax obligations.
Foreign Nationals with US Investments: These are individuals who have worked in the US and are now living overseas and face challenges in managing the 401k or IRA plans they left in the US.
US Residents with UK Pensions: Individuals currently living in the US who encounter difficulties in gaining access to the UK pension plans they left behind.
What types of retirement accounts can you help me manage?
We can help you manage a variety of retirement accounts, including 401(k)s, IRAs, and UK Pension plans such as SIPP, Final Salary and QROPS.
Can you help me consolidate several retirement plans?
Yes, we can help you consolidate your multiple retirement accounts and develop a unified investment strategy that’s simpler, more efficient to manage
How do you ensure the security of my retirement plans?
We work with reputable custodians and financial institutions that have strong security protocols in place to ensure the safety of our clients' retirement accounts.
What fees do you charge for your services?
We are transparent about our fees and would be happy to email you a detailed breakdown of our costs.
How do we reach out to your firm for assistance?
Simply fill up this contact form or click the button below.
Can I keep my 401k if I move abroad?
Yes, you can keep your 401k while living abroad. However, managing it from abroad can present challenges.
What are the tax implications of having a 401k while living abroad?
Your 401k withdrawals might be subject to US taxes even if you're living abroad. Tax treaties can affect the final tax liability.
Can I contribute to my 401k while living outside the US?
Contributing to a 401k while abroad might be challenging due to employment and income requirements.
How can I manage my 401k investments from abroad?
Managing your 401k investments remotely requires online access and understanding the available investment options.
Are there penalties for withdrawing my 401k while living abroad?
Withdrawing from your 401k before the eligible age can result in penalties, even if you're living outside the US.
What are the options for rolling over my 401k after leaving my US employer?
Rolling over your 401k to an IRA can offer more control and investment options, even when living abroad.
How can I optimize my 401k for retirement while abroad?
Working with financial experts who specialize in cross-border retirement planning can help you optimize your 401k for retirement.
What factors should I consider before making changes to my 401k while living abroad?
Consider factors like tax implications, investment options, currency exchange rates, and compliance with local regulations.
Can I transfer my 401k to a retirement account in my current country of residence?
Transferring your 401k to a local retirement account might be possible, but it requires understanding the regulations in both countries.
How can I ensure compliance with both US and local retirement regulations?
Seeking advice from financial advisors who understand both US and local retirement regulations is essential for compliance.
What role can a financial advisor play in managing my 401k from abroad?
A financial advisor can guide you in making informed decisions, managing investments, and navigating the complexities of cross-border financial planning.
Can I keep my UK pension if I move to the US?
Yes, you can keep your UK pension while living in the US. It's important to understand how it will be taxed and managed.
What is the tax implication of having a UK pension in the US?
The tax treatment varies. Your UK pension income may be taxable in the US, and you might need to report it to both tax authorities.
How do I access my UK pension from the US?
You can typically access your UK pension by starting withdrawals once you reach the eligible retirement age specified by your pension scheme.
What is the impact of currency exchange rates on my UK pension?
Fluctuations in currency exchange rates can affect the value of your UK pension when converted to US dollars.
Can I transfer my UK pension to the US?
Yes, you can transfer your UK pension to a US-based retirement account. However, this decision should be made after careful consideration.
Are there penalties for withdrawing my UK pension early?
Withdrawing your UK pension before the eligible age may result in penalties and tax implications.
What are the options for managing my UK pension investments from the US?
You can choose from various investment options to optimize your UK pension while living in the US, such as leaving it alone, transferring to a QROPS or consolidating your pension accounts into a UK SIPP.
How can I ensure compliance with both UK and US pension regulations?
Seeking advice from financial experts who understand both UK and US pension regulations is crucial to ensure compliance.
What role can a financial advisor play in managing my UK pension from the US?
A financial advisor can guide you through the complexities of managing your UK pension in the US and help you make informed decisions.
How do I minimize tax liabilities when transferring my UK pension to the US?
Minimizing tax liabilities requires strategic planning and understanding the tax treaties between the UK and the US.
What documentation is needed to manage my UK pension from the US?
Documentation might include pension statements, tax-related forms, and any correspondence with pension providers.
What is overseas wealth management?
Overseas wealth management involves managing financial assets, investments, and planning for individuals who are US-connected but live abroad.
How does overseas wealth management differ from traditional financial planning?
Overseas wealth management addresses unique challenges like cross-border tax implications and global investment diversification.
Why is overseas wealth management important for US expats?
Managing wealth across borders can be complex due to tax implications, currency fluctuations, and different financial regulations.
What are the benefits of specialized overseas wealth management?
Specialized services help optimize investments, navigate international tax laws, and create strategies tailored to expats' unique financial situations.
How can overseas wealth management help me with my investments?
Experts in overseas wealth management can design portfolios that consider your global financial circumstances and goals.
What challenges do US-connected expats face in wealth management?
Challenges include tax reporting, understanding international investment options, and ensuring compliance with local regulations.
Can I keep my US investments while living abroad?
Yes, you can maintain US investments, but it's important to ensure they align with your overall financial plan.
How can overseas wealth management help with tax planning?
Experts can help you navigate complex international tax obligations and opportunities to minimize tax liabilities.
What role does currency exchange play in overseas wealth management?
Currency fluctuations impact the value of your investments. Overseas wealth management can offer strategies to manage this risk.
Can I integrate my local investments with my US assets?
Yes, experts can help create a holistic wealth management strategy that integrates both local and US assets.
What are the advantages of working with a specialized advisory firm like Cross Border Wealth?
Specialized firms understand the complexities of expat finances, offering tailored solutions and expertise in managing wealth across borders.
How can I get started with overseas wealth management services?
Reach out to advisors specializing in this field for a consultation to discuss your financial goals and how they can assist you.