contents

company types

how to evaluate your broker/dealer: independent, conflict-free, ACAT

broker/dealer accounts: taxable, deferred, tax-free Roth

types of investments: stocks, bonds, mutual funds and ETFs

how to evaluate investments: growth vs value, cap:large, mid, small, risk

how to balance a portfolio

financial advisor: how to choose

(this is not key ideas, its organization)

SP500 etfs are over-valued now: IVV and SPY put VBIL in taxable account to prep for Roth Conversions if market crashes, do heavy Roth Conversions, have VBIL on hand to pay the taxes

value vs growth I have everything in growth. This is aggressive. In a sell-off you might want to have some value funds like VTV keep 50:50, rebalance every year in january

international stocks are this year beating US stocks: VXUS depends on strength of dollar Jack Vogel, founder of Vanguard Google, half of sales is foreign

value funds have dividends, which have to be paid in the taxable account

If I had it to do over…

1. Start early. Not wait until retirement or age 73 or any other milestone.
2. Assume I will travel and perhaps settle abroad. Plan to stay connected to the US banking and financial systems, and simultaneously to branch out into some foreign systems.
3. Hire a Financial Advisor. Choose an independent fiduciary who works for me by the hour. [Ramin Olsen at Nomad Financial]
4. Hire an independent discount broker that will support me if you travel or move abroad. [Interactive Brokers]
5. Hire a bank that will support me when abroad [State Department Federal Credit Union]. Tie my checking account to my broker via ACH.
6. Open three accounts with my broker:
   1. Individual (Taxable)
   2. IRA (Tax-Deferred)
   3. Roth IRA (Tax-Free)
7. Consolidate my assets into these three accounts. Move my assets into a balanced portfolio of ETFs (unless I’m headed to Europe).
8. Create a plan for taxes and Roth Conversions. Move all assets from the IRA account to the Roth account as soon as possible without paying too much in taxes.
9. Design a lifestyle where I can live within the means provided by my Social Security pension. Keep my portfolio as health insurance for me, and life insurance for my heirs. If I need more extravagance, then I would design a plan for withdrawals from the portfolio such that it won’t run dry..
10. Create an Estate Plan. When I get hit by a truck, let my heirs get at my stuff quickly and easily.

The magic of USA capitalism:

• compounding
• Roth Conversion

[see Estate Planning]

[see Retirement Accounts]

[see Taxes]

In financial planning, an advisor will allocate percentages of the portfolio to an asset class.
The asset classes are

• stocks
• bonds
• cash

At one time, diversification was important to me.
Now I’m more interested in simplicity.
Fewer accounts to manage. Like to make an address change for example.

option: replace citi card with Chase Sapphire Preferred

• no foreign transaction fees
• to consolidate accounts.

Will Chase stay on board if I disclaim residence in USA?
Before cancelling a credit card, remember what it does to your credit score.
My citi card has a $23,000 limit.

Maybe instead of consolidation, I just document the user experience and learn to deal with it.

The Most Important Reasons to Consolidate Retirement Accounts
https://www.thebalancemoney.com/consolidate-retirement-accounts-3861993

See [Know Your Customer]
[see Know Your Customer]

• A few years ago when I tried to open an account and Charles Schwab, they asked if I filed an FBAR, and when I said yes, they said I cannot open a US account but must go to their International account system.
• Recently when I tried to open a taxable account at Putnam, it had a checkbox labeled “I am exempt from FATCA”.

What event would trigger the closing of a brokerage account?
Changing the address at SSA?
Changing the direct deposit bank at SSA?
Open a Schwab account with international address?

Creative Planning article: Why US Brokerage Accounts are being Closed
https://creativeplanning.com/international/insights/investment/why-us-brokerage-accounts-of-american-expats-are-being-closed/

• US-registered Mutual Funds may not be available to buyers in countries where those funds are not also registered.
• US-registered ETFs may not be available to residents of some European countries.

Two brokers support expats living abroad

• Charles Schwab international
• Interactive Banking LLC (IBKR)

One bank supports expats living abroad

• State Department Federal Credit Union (SDFCU)

https://moneywise.com/investing/expat
“In response to the Foreign Account Tax Compliance Act (FATCA), many foreign banks and brokers began closing the accounts of their U.S. customers due to the extra requirements placed on them.”

“There are ways for expats to keep their U.S.-based financial accounts open, such as maintaining a U.S. address, looking for ‘expat-friendly’ brokers, or using the U.S. address of a family member or friend.”

“Whether or not expats can contribute to U.S. retirement accounts depends largely on whether or not they plan to claim the Foreign Earned Income Exclusion (FEIE).”

“…U.S.-domiciled mutual funds are often only open to U.S. citizens.”

worried to be connected to liveone
They have no business strategy.
Theo Von publicly accused them of theft.
They have moved from Principal to empower to ADP.
Why should my 401K be connected to an employer?
Why should policies of liveone have an impact on my retirement plan?
ask advisor about this
or just do a rollover and be done with it

https://money.usnews.com/financial-advisors/articles/from-form-adv-to-the-u4-financial-advisor-disclosures-to-know#what

“Disclosure Documents
Form ADV: A form with information about the firm, such as services, fees, disciplinary history and conflicts of interest.
Form CRS: A client relationship summary of the information in Form ADV.
Form U4: A document with similar information to Form ADV and criminal and civil judicial records.
Privacy policy: A document that describes how the firm will use your personal information.

Where to find disclosure documents
Investment Adviser Public Disclosure (IAPD): The IAPD provides information about registered investment advisors and their firms, including Form ADV. You can search by name or registration number for detailed information about an advisor’s qualifications, business practices and affiliations.
BrokerCheck by FINRA: BrokerCheck is a free tool for researching the backgrounds and experiences of financial brokers, advisors and firms. It gives you access to Form U4, which lists the advisor’s professional background and any disciplinary actions.
SEC’s EDGAR database: EDGAR provides filings, registration statements, and periodic reports for advisors and firms registered with the SEC. It’s particularly useful for reviewing financial statements and disclosures.
Advisor websites: Financial advisors often provide disclosure documents directly on their websites. Look for sections titled “Compliance,” “Legal” or “Disclosure” to find these documents.”

Fee Structure
fee-only: flat fee or hourly rate
fee-based: fee plus commissions
commission:

I want a fee-only fiduciary.

How a financial advisor gets paid.

Schwab has a system to allow an independent Registered Investment Advisor (RIA) to offer Schwab accounts and services through a private label portal website.
https://advisorservices.schwab.com

IBKR has a similar system.
https://www.interactivebrokers.com/en/accounts/advisor.php

Fiduciary works for me.
Advisor works for the brokerage.
They are licensed differently.

Certifications:

• Certified Financial Planner (CFP)
• Chartered Financial Analyst (CFA)

Licensing:

• Series 65 or 66, Uniform Investment Adviser Law Examination

Assets Under Management (AUM)

• > $100 million: register with the SEC
• < $100 million: register with the state

Since advisors are licensed by a state, how do they support expats?

How do you make your money? Commissions? Hourly consulting, fee-based?
Are you a fiduciary? Working for me, or yourself, or your company?
Consolidation?
Schwab?
Residency?
How to record and report mf cap gains?

my investment advisor

• must know all about taxes
• must know about estate planning
• should have a specialty with expats
• can be anywhere in the USA (no need to be in Thailand or Kansas)
• must know about FBAR and residency effects on Mutual Fund accounts

I have 3 IRAs and 1 401k. RMD starts this year and I want to reinvest into taxable mutual fund accounts. Considering taxes and estate planning.

Questions for Investment Advisor.

USA Mutual funds are not available to citizens living abroad.
USA ETFs are not available to citizens living in the EU.

What I still don’t understand what is the reasoning why mutual funds are not allowed for non-residents where e TFs and stocks and bonds are okay

Residency
How to record and report mf cap gains
Consolidation and Schwab

5 Types of Advisors
https://www.prudential.com/financial-education/5-types-of-financial-advisors

• Financial planner
  • Helps plan to meet goals, like retirement, education, house purchase, etc.
  • Is a fiduciary.
  • May have a Certified Financial Planner (CFP®) certification.
• Investment advisor
• Gives advice about stocks, bonds, mutual funds, exchanged-traded funds (ETFs), options, and other investment assets and strategies
• Shares insights on market trends, taxes, and how to lower your investment risk.
• May manage your portfolio as well.
• Must register with the Securities and Exchange Commission (SEC). You can check an advisor’s credentials by searching their name on Investor.gov.
• Wealth manager
  • Works with high-net-worth clients (typically those with a household net worth above $1.5 million or $750,000 to invest).
  • A one-stop shop for all things financial—investing, retirement, estate, insurance, legal and legacy planning, and more.
• Asset manager
  • focus on growing a client’s investment portfolio.
  • buys and sells securities—often with the power to make decisions on their own
  • must register with the SEC or a state agency, depending on how much money they manage.
• Financial coach
  • Help with strategy and encouragement.
  • Not Certified.

What I need is a financial advisor. Advice about mutual funds and ETFs.

Check out your investment professional
https://www.investor.gov/introduction-investing/getting-started/working-investment-professional/check-out-your-investment
This is an SEC site where you can check the registration status of your investment advisor.

choose ETFs for taxable account
reinvest dividends?
choose ETFs for IRA rollover account
10-year distribution strategy
10-year gifting strategy

tax efficient - what makes an ETF “tax efficient”

ETF Types

• Equity ETFs
  • Broad Market ETFs: These track major indices like the S&P 500, NASDAQ, or Dow Jones Industrial Average, offering exposure to a wide array of stocks across different sectors.
  • Sector ETFs: Focused on specific sectors like technology, healthcare, or energy, allowing investors to invest in industry trends.
  • Style ETFs: Differentiate by investment style, e.g., value, growth, or blend.
  • Growth ETFs aim for capital appreciation, investing in companies with potential for above-average growth.
  • Value ETFs look for stocks that appear underpriced by some measure of their intrinsic value.
  • Blend ETFs mix growth and value strategies.
• Income ETFs
  • Dividend ETFs: Focus on companies with a history of paying dividends. These can be further subdivided:
  • High Dividend Yield ETFs: Emphasize stocks with high dividend yields.
  • Dividend Growth ETFs: Target companies with a track record of increasing dividends over time.
  • Bond ETFs: Include government, corporate, municipal bonds, etc., which pay interest. They can also be categorized by duration, credit quality, or geography.
• Commodity ETFs - These track the price of commodities like gold, oil, or agricultural products, either through direct investment or via futures contracts.
• Currency ETFs - Invest in specific currencies or baskets of currencies, used often for hedging or speculation on currency movements.
• Real Estate ETFs - These might invest directly in real estate through REITs (Real Estate Investment Trusts) or companies engaged in real estate activities.
• International ETFs
  • Global ETFs: Expose investors to markets globally, including the home market.
  • International ETFs: Focus on foreign markets excluding the investor’s home country.
  • Emerging Markets ETFs: Invest in markets in countries with less developed economies but potentially higher growth rates.
• Inverse and Leveraged ETFs
  • Inverse ETFs: Aim to deliver the opposite return of the index or benchmark they track, useful for short-term bearish strategies.
  • Leveraged ETFs: Seek to amplify the daily returns of an index, often by 2x or 3x, which can be very risky.
• Smart Beta ETFs - Use alternative index construction rules to traditional market cap weighting, focusing on factors like volatility, momentum, quality, or value.
• ESG ETFs - Focus on Environmental, Social, and Governance criteria, appealing to investors interested in sustainable or ethical investing.
• Thematic ETFs - Invest in trends or themes, like AI, blockchain, or clean energy, which are not strictly sector-based but cut across industries.

Asset Manager, Broker/Dealer, Platform

Fund Company

• aka asset management company or investment company
• Creates, manages, and operates mutual funds, exchange-traded funds (ETFs), or other investment vehicles.
• Role: Product Creation, Management, Distribution
• Examples: DWS, Vanguard, BlackRock, Fidelity.
• Top asset managers

Brokerage

• Acts as an intermediary between buyers and sellers in the financial markets, primarily dealing in the buying and selling of securities.
• Role: Trading, Custody, Advisory, Platform
• Examples: E-Trade, Charles Schwab, TD Ameritrade.
• Top broker/dealers

Platform

• The software or service through which investors interact with their investments. It’s where trading, account management, and sometimes financial analysis occur.
• Role: Interface, Integration, Tools
• Examples:
  • Brokerage Platforms: E-Trade’s trading platform, Schwab’s StreetSmart Edge.
  • Third-Party Platforms: Platforms like Betterment or Wealthfront which might not be full brokerages but offer investment services often through partnerships with existing brokerages.

Fund companies distribute their funds through brokerages.
Brokerages have agreements to offer these funds to their clients.
Brokerages might use their own platform or third-party platforms to facilitate trading and account management for clients.
Sometimes, platforms are so comprehensive that they essentially function as brokerages themselves, offering direct investment opportunities, custody, and trading services.

Yield - income: dividends and interest

Percent change - difference in beginning and ending values. Capital gain or loss. Price appreciation or depreciation.

Return - yield + capital gain

These terms are expressed as a percentage of the initial value, cover a specific period, and are often annualized.

https://www.investopedia.com/terms/a/acat.asp
Transfer from one broker to another.
Much faster than doing it manually. Sometimes completed in 3 days.

Only members of NSCC or DTC can use the ACATS.
National Securities Clearing Corporation (NSCC)
Depository Trust Company (DTC)

The client signs a transfer document with the new receiving firm.
The receiving firm submits a request to the old delivering firm.
The transfer usually happens with 3 to 6 business days.
NOTE: Only mutual funds offered by IBKR can be transferred.
Account types must match: cash to cash, IRA to IRA, Roth to Roth

No restrictions on me. I can give as much as I want. Gifts to my family are not deductible.
I have no desire to give to charities.

Restrictions on gift receiving
17,000 maximum annually?

Per Wikipedia in 2025, there are 21 stock exchanges around the world with a market capitalization of more than USD 1 Trillion each.

The largest by Market Cap in USD Trillions are:

• 31 New York Stock Exchange (NYSE)
• 30 NASDAQ, New York
• 7.2 Shanghai Stock Exchange
• 6.6 Tokyo Stock Exchange
• 5.7 National Stock Exchange, Mumbai
• 5.5 Bombay Stock Exchange, Mumbai
• 4.74 Shenzhen Stock Exchange

Important smaller exchanges in the US include:

• ARCA, owned by the NYSE, all electronic trading, eliminating the human middleman. World’s leading ETF exchange in terms of volume and listings.

Price Return Index - only changes in price of underlying stocks
Total Return Index - includes dividends and other income

Companies that manage indexes.

• Standard & Poor (S&P) - Publicly traded company listed on NYSE.
• Morgan Stanley Capital International (MSCI) - Founded in 1969.
• Russell
• Dow Jones
• Bloomberg
• Financial Times Stock Exchange (FTSE)
• Wilshire
• Center for Research in Security Prices (CRSP)
• S&P Dow Jones Indexes LLC, a joint venture holding two of the most well-known indices:
  • S&P 500 - Tracks 500 large-cap U.S. companies
  • Dow Jones Industrial Average (DJIA) - Tracks 30 large U.S. companies

Total Market Indexes

• Wilshire 5000 Total Market Index: One of the broadest U.S. equity indexes, covering approximately 3,500+ publicly traded companies, including large-, mid-, small-, and micro-cap stocks. Example: Schwab U.S. Broad Market ETF (SCHB).
• CRSP U.S. Total Market Index: Includes nearly 4,000 U.S. stocks across all market caps, weighted by market capitalization. Example: Vanguard Total Stock Market ETF (VTI).
• Dow Jones U.S. Total Stock Market Index: Covers about 95% of the U.S. equity market, including thousands of stocks. Example: iShares Core U.S. Total Stock Market ETF (ITOT).
• Russell 3000 Index: Represents the top 3,000 U.S. companies, covering about 98% of the U.S. equity market. Example: iShares Russell 3000 ETF (IWV).

Some Popular Indexes

• S&P 500 Index: Tracks 500 large-cap U.S. companies
• Russell 2000 Index: Focuses on small-cap U.S. stocks
• MSCI EAFE Index: Covers developed markets outside North America
• MSCI Emerging Markets Index: Tracks emerging market equities
• Bloomberg U.S. Aggregate Bond Index: Represents U.S. bond markets
• FTSE Developed All Cap ex U.S. Index: Includes global developed market stocks excluding the U.S.
• Dow Jones Industrial Average: Tracks 30 large U.S. companies
• Nasdaq-100 Index: Focuses on top non-financial Nasdaq stocks

ETF belongs to a broader category called ETP, including:

• Exchange-Traded Funds (ETF)
• Exchange-Traded Commodities (ETC)
• Exchange-Traded Notes (ETN), issued by banks
• and more…

The ETF is similar to a mutual fund in that it represents a basket of stocks, giving the investor a diversified portfolio in a single instrument.

ETFs are treated the same as stocks. They are traded on exchanges, and they qualify for limit orders and stop orders. Mutual funds are priced and traded once daily at their net asset value (NAV).

Because they are publicly traded, ETFs offer:

• intraday liquidity
• transparency of holdings

ETFs have generally low expense ratios compared to mutual funds

Mutual funds, including money market funds, are not generally available to non-US residents. ETFs are generally available to US citizens regardless of residence, although there are restrictions in some European countries.

• Low-cost (expense ratio)
• Broad-based
• Indexed: tied to S&P 500 or some other publicly-recognized index

large cap
growth
income (bonds)

• short and leveraged
• currency
• hedged

• active ETFs are actively managed by human analysis and decision making
• passive ETFs track an index, a sector, or an asset class

aka Asset Manager, Fund Manager, ETF Manager, Sponsor, Issuer, Parent,

These terms describe the company that creates, markets, and manages the ETF; the company responsible for the ETF’s structure, regulatory compliance, and overall strategy; the company responsible for overseeing the ETF’s operations, including portfolio management, ensuring the fund tracks its index (for index ETFs), and handling administrative tasks.

Some example ETF managers and their branded families of ETFs

• Vanguard
• State Street
  • Standard & Poor’s Depositary Receipts (SPDR), pronounced “spider”
• Blackrock
  • iShares
• Fidelity
• Schwab

• Bond
  • Schwab Core Bond ETF (SCCR)
  • Schwab Mortgage-Backed Securities ETF (SMBS)
  • Sector: Mortgage-Backed Securities (MBS)
  • Schwab Ultra-Short Income ETF (SCUS)
  • Schwab Short-Term U.S. Treasury ETF (SCHO)
  • Schwab Intermediate-Term U.S. Treasury ETF (SCHR)
  • Schwab Municipal Bond ETF
  • Schwab High Yield Bond ETF
• Equity
  • Schwab U.S. Large-Cap Growth ETF (SCHG)
  • Schwab U.S. Dividend Equity ETF (SCHD)
  • Schwab U.S. Broad Market ETF (SCHB)
  • Schwab 1000 Index ETF (SCHK)
  • Schwab International Equity ETF (SCHF)
  • Schwab U.S. Mid-Cap ETF (SCHM)
  • Schwab Fundamental Index ETFs (e.g., FNDX, FNDB, FNDA, FNDC, FNDE, FNDF)
• Thematic
  • Schwab U.S. REIT ETF (SCHH)
  • Schwab Crypto Thematic ETF (STCE)

Vanguard, Fidelity, Schwab, and eTrade by JPMorgan work as both asset managers and investor platforms.

These platforms sometimes offer one of their own funds as a Core fund, as a sweep account, thereby driving customers to their own fund.

Schwab, specifically, blocks certain third-party money-market ETFs (e.g., BlackRock’s iShares and Texas Capital’s ETFs) from its platform to promote its own offerings.

For equity funds, sector means “industry sector”.

Global Industry Classification Standard (GICS) divides the market into 11 industry sectors.

• Materials
• Industrials
• Consumer Discretionary
• Consumer Staples
• Health Care
• Financials
• Information Tehcnology
• Communications Services
• Utilities
• Real Estate

A “broad-based” equity fund is diversified across many sectors.

For bond funds, sector means the type of instrument.

Fixed Income Sectors, the type of instrument.

• Government Bonds, U.S. Treasuries or international sovereign bonds
• Corporate Bonds
  • investment-grade
  • high-yield junk bonds
• Municipal Bonds, tax-exempt bonds issued by state or local governments
• Mortgage-Backed Securities (MBS)
• International Bonds, non-U.S. issuers, including developed and emerging markets
• Inflation-Protected Bonds, TIPS
• Short-Term Bonds, shorter maturities for lower interest rate risk
• Long-Term Bonds, longer maturities for higher yield potential
• Convertible Bonds, can be converted into equity
• Floating Rate Bonds, bonds with variable interest rates, often tied to benchmarks like LIBOR
• Emerging Market Bonds, emerging market governments or corporations

Or

• U.S. Treasuries,
• investment-grade corporates,
• high-yield bonds,
• emerging market debt,
• mortgage-backed securities (MBS), and
• municipal bonds

A diversified bond fund might be called “broad” or “aggregate” or “multi-sector”.

An ETF can use derivatives (e.g., futures, swaps) for hedging or yield enhancement.

high-yield = junk = below-investment-grade

Market Capitalization (market cap) vs Assets Under Management (AUM)

Cap => share price
AUM => NAV

Share price vs Net Asset Value (NAV)

• NAV is calculated from the underlying instruments in the fund
• share price is based on supply and demand
  • when share price is greater than NAV, the ETF is trading at a premium
  • when share price is less than NAV, the ETF is trading at a discount

As it applies to an ETF
market cap = share price x number of shares
AUM = NAV x number of shares

Also
The term market cap applies to a single investment vehicle: a stock or bond or ETF, etc.
The term AUM can apply also to a financial advisor, a company, or anything than manages assets.

Capital Classifications

• Mega-Cap >$200 billion 47 stocks
• Large-Cap $10 billion to $200 billion 800 stocks
• Mid-Cap $2 billion to $10 billion 1000 stocks
• Small-Cap $300 million to $2 billion 1407 stocks
• Micro-Cap $50 million to $300 million 1133 stocks
• Nano-Cap <$50 million 1061 stocks

https://stockanalysis.com/list/mega-cap-stocks/

The Magnificent Seven:

• Apple
• Microsoft
• Alphabet
• Amazon
• Nvidia
• Meta
• Tesla

Offer

• safety
  • capital preservation
  • liquidity
• modest yields (sacrifice yield for safety)

Invest in debt instrumentslike

• U.S. Treasury bills
• investment-grade corporate bonds,
• commercial paper, or
• repurchase agreements,

Focus on

• ultra-short-term, with maturities often under one year.
• high-quality,
• low-risk

Money Market Mutual Fund: has a stable $1 NAV.
Money Market ETF: has a floating NAV.

Risk metrics

• Risk Profile - low, medium, high
• Volatility - standard deviation of return, usually annualized.
  • <1% money market ETFs
  • 15–20% Broad-based ETFs
  • 25–30% Sector ETFs
  • 30-40% Micro-Cap ETFs
• Beta - sensitivity to market movements. 1: in line with the market, >1: higher volatility, <1: lower volatility.
  • ~0 money market ETFs, no correlation to equity markets
  • 1 Broad-based ETFs, matching the market
  • 1.2-1.4 Sector ETFs, concentration risk
  • 1.5-2.0 Micro-Cap
• VaR - Value at Risk, how much can you lose, as a pct
• Maximum Drawdown - distance between peak and trough, pct
• Sharpe Ratio - Risk-adjusted return. Higher risk lowers the effective return.
• Sortino Ratio

Types of risk:

• Tracking Error
• Credit Risk
• Liquidity Risk
• Concentration Risk
• Market Risk
• Economic Sensitivity
• Geopolitical Risk
• Manager Risk
• Regulatory Risk

For a comparison of risk metrics, see https://docs.google.com/spreadsheets/d/1odA0rQtmhgy-KLK0OQIlmdgc8HBu-tozPDbk04zxl08/edit?usp=sharing

Portfolio Approach: Use a mix (e.g., 60% VTI, 30% BIL, 10% XLK) and calculate portfolio volatility, beta, and VaR to align with your risk tolerance. Tools like Portfolio Visualizer can help.

BlackRock
BNY Mellon Investment Management
Capital Group
Charles Schwab
Fidelity Investments
Goldman Sachs
PIMCO
Prudential Financial
State Street Global Advisors
Vanguard
J.P. Morgan Asset Management

Merril Edgel, Bank of America
Fidelity
ETrade, Morgan Stanley
Interactive Brokers
SoFi

Fidelity
Vanguard
Schwab

These top discount brokers also create their own contracts.

contract - An option is created by a contract. IBKR originated in the options market and then expanded into a more general investment system. They apply the word contract to mutual funds, ETFs, and even stocks and bonds. Anything with a ticker symbol is described as a contract. Thus their online search engine is sometimes called the Contract Search.

SCHD, Schwab U.S. Dividend Equity ETF, Annual growth 3-4% for last 10 years

SPY State Street
VOO Vanguard
IVV iShares (Blackrock)

KMFXX Kemper (precursor to DWS)
VMFXX Vanguard

40 ETFs
XAIX Xtrackers Artificial Intelligence and Big Data ETF
SNPV Xtrackers S&P 500 Value Scored & Screened ETF
CRTC Xtrackers US National Critical Technologies ETF

12 ETFs
actively managed
sold through its Putnam ETF Trust
traded on the ARCA exchange

PGRO Putnam Focused Large Cap Growth ETF
PPIE Putnam PanAgora ESG International Equity ETF

They are available for purchase through most self-directed brokers or with the guidance of a financial advisor.

VanEck Semiconductor ETF (SMH) 5-Year CAGR: ~28-30%
Grayscale Bitcoin Trust ETF (GBTC) 5-Year CAGR: ~59.17%

SMH: $1,000 invested on June 2, 2020, would be worth $2,107.17 on June 2, 2025
GBTC: $1,000 invested on June 2, 2020, would be worth $7,496.31 on June 2, 2025

Global broad-based ETF = URTH
“international”

At IBKR, I’m not allowed to buy GBTC or IBIT because these are Complex or Leveraged ETPs and I don’t have trading permissions.

3 reasons given:

1. The Investment Objectives provided does not meet the requirements to trade Complex Or Leveraged Exchange Traded Products.
2. The Financial Information provided does not meet the requirements to trade Complex Or Leveraged Exchange Traded Products.
   1. Annual Net Income <40K,
   2. Net Worth 250K-500K,
   3. Liquid Net Worth 75-100K.
3. The Investment Experiences provided does not meet the requirements to trade Complex Or Leveraged Exchange Traded Products.

investments
stocks, bonds, mutual funds, ETFs, currency
USA vs foreign investments
recommended
accounts
deferred vs taxable
companies
advisors

Custodians who work with internationals:
Interactive Brokers (brokerage company)
Charles Schwab (brokerage company)

Falcon Wealth Planning: Taxation on Capital Gains - Mutual Funds vs ETF
https://www.youtube.com/watch?v=62kbHdL0fnE

Nanalyze: Confused about taxes? Watch this.
https://www.youtube.com/watch?v=7SEFiAvdKmA

CYA, use a tax preparer. He signs his name on your return and will not risk his license.

Dividend ETF

• SPY
• VOO
• SCHD

Schwab U.S. Dividend Equity ETF (SCHD)

• Quarterly dividend $0.82 per share in June 2024
• Annual growth 3-4% for last 10 years
• compound annual growth rate of 11.4% since 2014
• lately underperforming SP500

Fathom - AI note-taking
Right Capital - financial spreadsheet modeling and forecasting
Trust and Will - estate planning
Holistiplan - tax planning

See consultations with Ramin Olson

media outlets
Lending Tree
Nasdaq
Kiplinger
MorningStar

Walkner Condon
https://walknercondon.com/ or https://usexpatinvesting.com/
Madison Wisconsin
Keith Poniewaz
https://www.youtube.com/watch?v=fj7aQ4fEIoQ&t=6s
requires minimum $500K assets to talk to me

Black Tower
recommended at expat.com, appears to be EU focused

International Asset Management IAM
https://iamadvisors.com
Tom Zachystal, worked in Prague, among other places
San Mateo California
Skype appointment 15 Jan 7:00 AM.
Does not want to do hourly consulting to answer my questions.
Wants $1500+ for a one-time “financial plan” which describes the allocation pattern I need to meet my goals. Or will manage my funds, buying and selling throughout the year for a percentage of assets. He does this with an account at Schwab or IBKR. Both Schwab and IBKR have systems for advisors to private label a web portal and services to their own customers.

“cross border financial advisor” - may refer only to the USA/Canada border

https://ceritypartners.com/
Dustin Ribergaard, Lead Concierge

https://nomadfinancial.us/
Ramin Olson, Tennessee
worked in Switzerland, Germany, Italy
focus on Europe (Portugal, Spain, Italy, France, Greece)
“Nomad Financial is a fee-only fiduciary investment advisory firm.”
offers login screens to Schwab and Altruist
EST ICT (Indochina)
Mon-Thu 8:00am - 6:00pm 8:00pm - 6:00am Fri
have Google Meet appointment scheduled for 24 Jan 23:00

https://cbwealthadvisors.com/about-us/
Victor Gersten
lived in Italy, Spain, Mexico, and the United States
fee-only fiduciary, “including a special relationship with Charles Schwab”
$500/mo or $250/hr (Fridays only for hourly)
Serves only USA-Spain border.

https:%%//%%crossborder-wealth.com
Ian Delector, called me initially, because I signed up to receive the brochure
https://info.crossborder-wealth.com/hubfs/Official%20Documents/Guides%20and%20Brochures/401(k)%20Challenges%20for%20Non-US%20Residents.pdf
Ian Delector: successfully assisting a client in consolidating multiple pensions into a single IRA

Two case studies in the brochure
Emily Jacobs, New York 401K consolidated into an IRA in Melbourne.
John Reynolds, US 401K consolidated into an IRA in Dubai.

https://creativeplanning.com/international/ require firefox

https://jadeandcowrywealth.com/pricing/
Co-founder of Jade and Cowrie, independent, fee-only, fiduciary firm.
Hourly consulting at $525.
https://moneymattersforglobetrotters.com/what-should-i-do-with-my-us-investment-accounts-when-i-move-overseas/?cn-reloaded=1
What should I do with my US investment accounts when I move overseas?
1) On US Government Assignment
2) Maintaining two residences
3) Short-term: with known end date
4) Long-term: no estimated return date

• If your current custodian will not continue to work with you, find a custodian that will.
• Open accounts using your foreign address, transfer the funds, and close the existing accounts.

Author Hui-chin Chen
https:%%//%%moneymattersforglobetrotters.com

Ryan Frost, founder 2013, Director and Branch Principal - USA, EU & Global
previously worked at AES
locations: UK, France, USA
https://harrisonbrook.com/contact-us/

https://chasebuchanan.com/contact/
large team
includes tax advisors

https://www.thewealthgenesis.com/
James Rayburn, founding partner
flat fee £3000

UK, Europe, UAE
Accountancy, Legal, Business Consulting
By “legal” they mean only help with visas.

PA means Professional Association, formed to create a legal shield for their personal assets.
Boca Raton FL
https://www.secatty.com/
Robert Wayne Pearce, PA
Adam Kara-Lopez
Investment Fraud - Helping investors recover losses from brokers.
https://www.secatty.com/investment-fraud-lawyer/kansas/
FINRA Mediation
https://www.secatty.com/finra-arbitration-this-year/
practice areas

• broker and financial advisor representation
• investor representation
• regulatory defense: SEC, CFTC, FINRA, etc

Financial Law, but not investor representation
Stinson https://www.stinson.com/
Foulston Siefkin LLP https://www.foulston.com/
https://www.investmentslawyers.com/

Investment Fraud lawyers
Hasselkorn & Thibaut https://investmentfraudlawyers.com/contact-us/

Local, no international, no legal
https://www.kfrtopeka.com/

https://www.reddit.com/

stackexchange
https://expatriates.stackexchange.com

https://internationalliving.com

https:%%//%%moneywise.com/

https://www.expat.com/

https://www.thebalancemoney.com/

https://www.expertsforexpats.com
Search engine for various kinds of consultants “introductions”

National Assoc of Personal Financial Advisors (NAPFA)
https://www.napfa.org/

SmartAsset
https://smartasset.com/
A free online service to match consumer with financial advisor,
wrapped with articles and calculators and guides.
To use this I would have to answer a questionnaire of financial info.

https://www.financestrategists.com/
similar to SmartAsset