Financial Planning & Wealth Management Needs for Cross Border Professionals

This is the second article in our series of industry content published on IRIS from Worldview Wealth Advisors, designed to help financial professionals better understand the opportunities available in the cross-border financial planning marketplace.


In our first article, we detailed the size, scope and characteristics of the cross border wealth management niche, which is estimated to be over $6 trillion.


Globalization is driving the growth of a large and underserved market niche for wealth management, known collectively as Cross Border Families, which is comprised of the following three sub-groups:


  • International professionals living in the U.S.
  • American expats
  • International families with assets in the U.S.


These individuals and families have specialized needs and are subject to numerous and complex tax, legal, currency and planning issues.  Their specific financial planning and wealth management needs consist of the following.


Cross Border Professionals

Foreign-born professionals living in the U.S., such as a high tech engineer from India working for a U.S. technology company.   These are foreign-born individuals who are well educated and work in a professional capacity in the United States.


This demographic generally has more complicated financial affairs than a typical American. They tend to be accomplished high-income professionals, and they also save at a considerably higher rate than their American peers.  As a result, their planning and investing needs are more complex.  These investors struggle with understanding our unique tax code, along with the various retirement and investment options offered to them here in the U.S.


Most have very little experience with investing as many foreign countries have much less developed and readily accessible investment markets. Further, there are very few financial institutions or advisors that are qualified to help them.  This group generally feels very alone and overwhelmed when it comes to investment and retirement decisions, even though they save a much higher share of their income and thus have fairly secure retirement outlooks.


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