Demystifying Cross-Border Financial Planning
If you have found us while searching for clarity on how to manage your financial life between Canada and the United States, you are in the right place!
Navigating the 49th parallel requires more than just standard advice—it requires a specialized lens.
The Origin of Cross Border Advice Only Planning: Andrea’s Story
Modern Cents was born from a simple realization: the traditional financial industry wasn't built for everyone.
During my time on a cross-border wealth management team, we operated under a traditional Assets Under Management (AUM) fee structure. Frequently, my colleague Vikki and I met prospective clients who desperately needed cross-border guidance but didn't fit the "traditional" mold. They either didn't meet high asset minimums or simply weren't looking for someone to manage their investments—they just wanted expert answers.
I kept asking myself: Who is helping these people? There was a glaring gap in the market for high-level, specialized advice that wasn't tied to the size of a portfolio. Modern Cents evolved to fill that need, providing a platform where expertise is the product, not the investment management.
What is "Cross Border Financial Planning?"
It is a common question. Our expertise is specifically tailored for Canadian residents navigating international complexities, such as foreign pensions and global assets. We specialize in serving U.S. tax filers living in Canada, and focus exclusively on the unique financial intersection between Canada and the United States.
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Investment Strategy for U.S. Tax Filers in Canada: Navigating "tax traps" like PFICs, identifying DIY "do’s and don’ts," and ensuring your accounts are structured for correct tax reporting.
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Retirement Decumulation: Designing withdrawal strategies for Canadian residents with U.S. assets, social security, or pensions, ensuring you aren't double-taxed.
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U.S. Account Integration: Determining what must stay in the U.S., what can move to Canada, and the tax consequences of those moves.
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Cross-Border Gifting: Guidance on the complexities of gifting to or from a U.S. citizen or resident.
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Estate Planning Coordination: Identifying red flags in your estate plan and finding the right legal path for dual-jurisdiction requirements.
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Tax Professional Synergy: Coordinating with cross-border CPAs to ensure your plan and your filings are in perfect sync.
Here is a look at what we solve for:
To provide the highest level of specialized advice, we stay focused on our core strengths. We do NOT:
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Work with non-residents of Canada: We specialize in those living in Canada. (If you reside in the U.S., we recommend our colleagues at Retire Mitten or Clarity Cross Border).
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Manage Portfolios: We do not provide discretionary investment management.
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Tax Prep or Legal Advice: We do not file tax returns, determine legal domicile, or provide advice on relinquishing citizenship.
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Immigration Services: We do not assist with establishing permanent residency.
The Boundaries: What We Don't Do
Ad Hoc Consultations
Perfect for those with a few specific questions that can be tackled in a focused, virtual session.
CAN/US Retirement Planning
Our specialty. We integrate U.S. assets and pensions into a cohesive Canadian retirement plan, answering the critical questions: Which account do I tap first? How does currency impact my lifestyle? What tax laws am I missing?
Comprehensive Financial Planning
Our most holistic engagement. We establish your footing across every discipline of financial planning to build a complete, resilient cross-border roadmap.