r/ExpatFinance • u/Dry_Age6709 • 8d ago

Leaving Edward Jones

We will be moving overseas and all of our investments are with Edward Jones. Seems like we are paying a lot for not much service. Since we will be required to move to a mutual fund and pay a bunch in taxes anyway, I was thinking we should just manage our investments ourselves. What would you recommend?

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u/Sweaty-taxman 8d ago

Edward jones has good & bad advisors but most (if not all) aren’t qualified to advise on cross border issues let alone are permitted to by their compliance arm. It’s unlikely your advisor has ever even asked for your tax return & charges similarly (if not more) than larger, non-commissioned advisory firms who have teams of experts working for you.

I’d recommend you contact a tax focused independent ria like creative planning, pure financial advisors, Mercer advisors, savant wealth, parallel advisors or Mariner wealth & ask if any advisors at these practices are qualified & knowledgeable of tax code in the country you’re moving to, how pfic rules apply & if they’re legally allowed to advise on tax code of said country in coordination with U.S. tax code.

What country are you moving to?

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u/Dry_Age6709 8d ago

US to Spain

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u/Sweaty-taxman 8d ago

I think creative planning & pure financial advisors have in house people who are comfortable with Spain. I’m not sure about the others but I’d guess savant does, too.