Saddle River Capital Management, a financial advisory firm in Saddle River, N.J., has launched a service for expatriates in the United States and abroad, the firm announced Thursday.
The Expat Wealth Management service is for both foreigners living in the U.S. and U.S. citizens living overseas. The service will be designed to help investors stranded between tax and regulatory regimes. It will assist expats with investing in the United States and in their home country and with their retirement planning, college planning, insurance and estate planning.
Targeted investors will have between $500,000 and $5 million in investable assets. Expats in the United States who are from other countries will be assisted with America-style investing and U.S. tax laws, Saddle River says. For the U.S. citizens abroad, Saddle River will also assist with investing in multiple jurisdictions and with multiple currencies.
When expats are ready to move back home, Saddle River helps them repatriate their assets and tax liabilities to their home countries without having to change accounts.
“Having more than one account in more than one country is a good way to lose track of your assets and to send accounting costs through the roof,” says Richard Wolfe, a Saddle River managing director.
Wolfe says the new service fills a void in the marketplace for a couple of reasons.
“While other large firms may offer financial advice to foreigners living in the U.S., many ignore the concerns of those looking to manage less than $5 million,” he says. “In addition, many U.S.-based firms experience compliance restraints when opening accounts for foreigners. Expats looking to manage their investments outside of their home countries have lots of questions, but not enough options when it comes to firms addressing their concerns.”