Brokerage Choice for US Citizen moving to UK

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klaus14
Posts: 953
Joined: Sun Nov 25, 2018 6:43 pm

Brokerage Choice for US Citizen moving to UK

Post by klaus14 »

Hi,
I am planning to consolidate my brokerage accounts before moving to UK.
Which broker will allow me to keep buying VTI, VXUS etc. (UK-reporting US domiciled funds) after I update my address to UK?

Vanguard?
Interactive Brokers? Will they convert my account to UK? I think I can qualify for professional to avoid PRIIPs issues.
Schwab? Will they convert my account to International? I think I can qualify for professional to avoid PRIIPs issues.
Etrade?
My investment algorithm: https://www.bogleheads.org/forum/viewtopic.php?f=10&t=351899&p=6112869#p6112869
b12
Posts: 4
Joined: Fri Apr 09, 2021 9:48 am

Re: Brokerage Choice for US Citizen moving to UK

Post by b12 »

A consideration with respect to consolidation is that if you have issues with one broker, you may not be able to open a new account with another while overseas. However, it does seem to be the case that existing accounts are maintained with limited capabilities (no mutual funds, etc.).
Valuethinker
Posts: 48944
Joined: Fri May 11, 2007 11:07 am

Re: Brokerage Choice for US Citizen moving to UK

Post by Valuethinker »

klaus14 wrote: Wed Apr 14, 2021 12:02 am Hi,
I am planning to consolidate my brokerage accounts before moving to UK.
Which broker will allow me to keep buying VTI, VXUS etc. (UK-reporting US domiciled funds) after I update my address to UK?

Vanguard?
Interactive Brokers? Will they convert my account to UK? I think I can qualify for professional to avoid PRIIPs issues.
Schwab? Will they convert my account to International? I think I can qualify for professional to avoid PRIIPs issues.
Etrade?
Caution says don't lower yourself to one account - they get closed. At least from what people here say.

Until you are sure you qualify as a professional investor, and can continue to do so. I did, but I almost do not as of now -- residing in UK but I am not a US national.
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