Canaccord Wealth has launched a specialist managed portfolio service (MPS) specifically for advisers with clients who are US expats living in the UK.
The new service has been developed following demand from intermediaries to address a gap in the market for US expats, who face restrictions when investing due to being subject to UK and US tax rules, Canaccord Wealth said. The wealth manager noted that many investment products available to UK investors are unsuitable for US taxpayers and the consequences of investing in the wrong assets can be "punitive". Built by Canaccord Wealth's specialist US ex-pat team, which has more than 20 years' experience managing an advisory service for American citizens living overseas, the service is des...
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