Photo Credit: courtesy
Doug Goldstein

Wells Fargo announced they are going to end their relationship with their overseas clients and close those accounts just because the address on the account is not in America.

Does Wells Fargo’s move leave you and your investments out in the cold?

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If you received a letter from Wells Fargo (or any other American brokerage firm) informing you that you must move your account elsewhere, don’t panic. There is a simple solution.

How Profile Can Help You

With over 25 years of experience with cross-border investors, Profile is able to open and maintain U.S. brokerage and IRA accounts for people who live outside the United States. Even though our office is in Jerusalem, we work with Portfolio Resources Group, which has clients in 35 countries. Our Jerusalem office focuses on clients in Israel, Europe, and the Far East.

Listen to this podcast which tells you the basic procedures that clients need to know about transferring their accounts.

Then, call the office 02-624-2788, and let’s start a conversation.

The Goldstein On Gelt Show is a financial podcast. Click on the player below to listen. For show notes and contact details of the guest, go to https://goldsteinongelt.com/radio-show

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Douglas Goldstein, CFP®, is the director of Profile Investment Services, Ltd, a financial planning and investment services firm specializing in working with Americans living in Israel who have investment accounts in America. He is a licensed financial professional both in the U.S. and Israel. Securities offered through Portfolio Resources Group, Inc., Member FINRA, SIPC, MSRB, FSI. Accounts held at Pershing LLC., Member NYSE/SIPC, a subsidiary of The Bank of New York Mellon Corporation. Neither Profile nor PRG gives tax or legal advice. Before immigrating to Israel, it is advisable to consult with a tax attorney who is knowledgeable about Israeli law. Contact at doug@profile-financial.com