\n here<\/a>.) Wealthy Americans also represent a major
\n non-UK\u00a0buying demographic for prime real estate in London
\n such as\u00a0Belgravia, Mayfair and Chelsea.
\n<\/p>\n
\n Built by Canaccord Wealth\u2019s specialist US expat team, which has
\n over 20 years\u2019 experience managing an advisory service for
\n American citizens living overseas, the service aims to provide
\n diversified investment exposure while remaining mindful of
\n regulatory and tax considerations faced by US taxpayers who live
\n in the UK.
\n<\/p>\n
\n The five model portfolios \u2013 which complement the existing
\n advisory investment service for US ex-pats \u2013\u00a0are based on
\n the firm\u2019s core asset allocation framework, using selected
\n vehicles intended to be suitable from an HMRC and an IRS
\n perspective. This includes the use of US-domiciled, UK reporting
\n funds and individual government bonds, where appropriate, helping
\n investors comply with US Passive Foreign Investment Company
\n (PFIC) rules, while remaining mindful of UK tax requirements. All
\n five risk-rated models are available on Morningstar.
\n<\/p>\n
\n \u201cThe launch of our US-expat MPS service comes at a time when
\n there is growing demand from intermediaries for specialist wealth
\n management solutions for their UK-based American clients,\u201d Antony
\n Champion, chief distribution officer at Canaccord Wealth said.
\n \u201cFor US expats, investing is a complex area to
\n navigate,\u00a0they face investment constraints because of their
\n ongoing US tax obligations. Most investment solutions are not
\n designed with cross-border tax considerations in mind and the
\n implications for getting it wrong can be significant.\u201d
\n<\/p>\n
\n \u201cOur aim is to provide a solution that broadens access to
\n investment opportunities for US ex-pats, while helping advisors
\n and their clients manage the complexities that come with being
\n subject to two tax systems,\u201d he continued. \u201cAs this is such a
\n complex area, we always recommend US citizens living in the UK
\n seek specialist tax advisory services before they consider
\n investing.\u201d
\n<\/p>\n
\n Canaccord Wealth said it has engaged an independent specialist
\n tax consultancy to review and monitor the eligibility of
\n investments used within the portfolios for\u00a0both US and UK
\n tax compliance. The service is available through financial
\n advisors and forms part of the firm\u2019s broader commitment to
\n supporting internationally-mobile clients.
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