Canada and the U.S. have a strong and multifaceted relationship. The close ties and proximity has resulted in significant movement of people and assets.
How will a cross-border move to Canada or the U.S. affect my financial goals?
The short answer is that temporary and permanent cross-border movement enhances the complexity of investment management and financial planning. The primary cause for this situation is that investment accounts, real estate and other financial and physical assets have accumulated in both Canada and the U.S.
The reality when searching for advice
The overwhelming majority of Canadian advisors are solely authorized and qualified to provide advice on Canadian investment accounts or to a Canadian domiciled client. The opposite is applicable for U.S.-based advisors. Relocating without proper guidance often results in a disjointed financial plan. Further, it often leads to higher taxation, poor estate planning and enhanced financial risk. This is especially true when significant assets are located on both sides of the border.
Increasing need for cross-border specialists
A successful cross-border transition requires proper investment management and financial planning. Therefore, individuals and families with cross-border complexities should always partner with a qualified and experienced Canada-U.S. cross-border advisor.
Trusted guidance in Canada and the U.S.
Cardinal Point was founded in Toronto and is an independent wealth management group of companies. We are dedicated to providing investment management and cross-border financial planning services to select high net-worth families within Canada and the U.S. Our advisors operate under the fiduciary standard and understand that your wealth, family, interests and values are all interconnected. In the past seven years, Cardinal Point has been featured and asked to comment on Canada-U.S. planning subjects in over twenty-five publications and videos, including the WSJ and Globe and Mail. To learn more, please visit www.cardinalpointwealth.com or contact us.