I have several stocks with one of the stock brokerage firms in Canada.They are not mutual funds and they are not in RRSP either.They are just stocks.I don't need/want to sell them anytime soon.I'd like to keep them for 10-20 years.
I'm trying to decide whether or not I should transfer them to another brokarege firm in USA.
So,would you pls let me know what are the pros and cons of leaving them with my canadian brokerage versus transfering them to USA brokerage firm?
Thnx in advance
Pros/Cons of leaving stock portfolio in Canada versus USA
Moderator: Mark T Serbinski CA CPA
The main con is that you cannot buy any other stocks with that firm, so if an opportunity comes up that would make sense to sell off one and buy another, you would have to do it with 2 sepaprate brokers.
It should cost nothing to transfer (the US firm will want your business) and I'm quite sure brokerage fees in US are less than in canada.
It should cost nothing to transfer (the US firm will want your business) and I'm quite sure brokerage fees in US are less than in canada.
After 20 years, I am severely cutting back on responses. Do not ask specifically for my help. There are a few others on this board that can answer most questions. All the best