United Kingdom Expat Forum

ONgaku
Joined 2009
Posts: 4

8 years ago

Managing 401K and getting advice in the UK

8 years ago

I've been living in England for the last 15 years but have 401k's in the US. The funds are with
Waddell and Reed, who did provide me with a 'financial advisor' until such time as they
found out I don't have a permanent address in the US. Apparently there's some SEC rule that
they can't talk to me except to execute trades beacause of this--no advice is allowed at all.

I'm loath to play the market on my own but realize that as I get older a different mix of funds
would be appropriate, and I'm going to start making withdrawls. Also I don't want to do anything
stupid regarding moving things around given the draconian penalties that might be levied.

I'm looking for advice on what to do--are any UK brokers savvy with US 401's and helping US
expats make sensible decisions? Has anyone on the list here run into this problem and what did you
do about it?

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