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Wells Fargo Closes Accounts for Americans Abroad

Creative Planning
Last Updated
July 09, 2021

Wells Fargo Closes Accounts for Americans Abroad–Creative Planning Can Provide an Alternative

Wells Fargo has announced that it is closing accounts for non-U.S. residents, including the accounts of their many American expat clients.

Creative Planning has assisted Wells Fargo international clients transition their accounts to our management. Our custodians (Schwab, Fidelity and Pershing) continue to welcome non-U.S. resident clients and Americans abroad. It is important to note that working directly with Schwab and Fidelity may not be possible or can involve heavy restrictions on the types of assets that can be traded. When working through us, however, some of these restrictions may be removed. We can use local addresses to open accounts depending on the country of residence, so using a U.S. address may not be necessary.

We welcome an opportunity to speak with you about finding a new home for all of your cross-border investing and planning needs. You may call us at +1.608.237.1318, or contact us on the web.

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This commentary is provided for general information purposes only and should not be construed as investment, tax or legal advice, and does not constitute an attorney/client relationship. Past performance of any market results is no assurance of future performance. The information contained herein has been obtained from sources deemed reliable but is not guaranteed.

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