U.S. Resident Inheriting Canadian Dollars

With the weakness in the Canadian dollar vs the U.S. dollar you may find that you are in an unfortunate situation that your Canadian dollar inheritance is 15 – 25% less than you thought it would be. The case study below illustrates how the Private Client Division of Raymond James (USA) Ltd. has helped.

The Background

Samantha’s mom passed away in Canada. The accounts have settled and the estate is now ready to move her portion of the inheritance to the U.S. where Samantha resides; however, given the weakness in the Canadian dollar and her goal of vacationing to Canada on an annual basis she would like to maintain the proceeds in Canadian dollars.

The Issue

Since Samantha lives in the U.S., a Canadian wealth management firm is not able to setup an investment account and since the majority of U.S. wealth management firms only have a U.S. dollar account type; Samantha is not able to achieve her goals of keeping the funds invested in Canadian dollars.

The Solution

With financial advisors registered across Canada that are licensed both in the U.S. and Canada and also having the ability to setup multi-currency investment accounts, Raymond James (USA) Ltd. can help. No longer would Samantha need to make the decision to move these proceeds to U.S. dollars. Her Raymond James (USA) Ltd. advisor is able to create a disciplined investment strategy in Canadian dollars and when there is a better time or a need for U.S. dollars; Samantha’s Raymond James (USA) Ltd. advisor can convert.

Other Case Studies

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