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shermanwc
12/12/2019 18:05 EST

I am a US citizen retired in Nicaragua, but I have my retirement investments in the USA. My investment adviser in the USA has recently informed me he can no loner provide investment advice to me, as the US government has enacted rules that are restricting investment advisers from providing advice to anyone living in Nicaragua.

Has anyone else encountered this issue? Has anyone come up with a work around? I have been told to start seeking alternate arrangements to hold my investments.

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johnchip
12/12/2019 18:20 EST

Do you keep a US adress? I use my brother's home as my legal US address to avoid most problms with my residency and my legal US status in passport, banking, pensions, and any credit issues. I would think this would skirt around that ridiculous Trumpian attack on Nicaragua.

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waltermboyles
12/12/2019 18:49 EST

Same problem with our friendly government HELPING us.
Edward Jones resolved it - I do not know the details. H2O 212F

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elzorro
12/12/2019 21:08 EST

Yes, I have been a short term trader and prowl the market daily and longer term. My platform that I actively traded was cut-off after moving to Nicaragua for that same reason. That does not mean that you cannot move your own money around and invest.

You can have an acct and do investment on your own e.g. TD ameritrade. You can get advised but usually like any other long term investment they want to put you in a cookie cutter long term investment that means adjusting one or twice a year.

You can use thinkorswim as a platform and invest on your own.

good luck!

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shermanwc
4/5/2020 14:33 EST

As a follow-up, I have found a financial adviser in the USA that caters to Expats and did not have a problem with my living in Nicaragua: Thun Financial Advisers in Madison, Wisconsin.

They manage my investments, but the investments are held in accounts at Charles Schwab. (I was not able to open an account at Charles Schwab directly, due to my residence in Nicaragua.)

So far I have been impressed with their service. If you encounter similar problems with your investments, I recommend contacting Thun.

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