At a glance
- Murphy is co-founder and executive director of the Global Financial Planning Institute and founder and principal of Arete Wealth Strategists Australia.
- The US framework does not go away.
- Advising a client who lives there may count as doing business in that country even when the advisor has no physical presence.
Advisors whose clients move overseas may face licensing or registration obligations in the new country, Kitces — Nerd's Eye View reported on Nov. 11 in a guest post by Ashley Murphy.
Murphy is co-founder and executive director of the Global Financial Planning Institute and founder and principal of Arete Wealth Strategists Australia.
The US framework does not go away.
Advising a client who lives there may count as doing business in that country even when the advisor has no physical presence.
Two operational checks can decide whether the relationship survives the move.
Some custodians apply country- and account-specific restrictions and may not permit accounts for residents of that country.
The advisor's E&O policy may not cover the new jurisdiction at all.
Duration changes the answer: a two-year work assignment likely needs limited adjustments, while a permanent retirement move presents greater complications, the post says.
Asking about relocation plans well before the move lets the advisor scope how the engagement itself might change.
Reported by the Tax & estate planning desk from Kitces — Nerd's Eye View. Published . Corrections