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Announcements

WEBINAR: Moving to Portugal as an American

WEBINAR: Moving to Portugal as an American

by | May 16, 2022 | ,

Let’s dive into financial life in Portugal as an American.

When people reach out to our team of US expat financial advisors, there’s a good chance they’re either living or planning a move to a certain place – Portugal. And it’s not just something we’ve seen. It’s something the Wall Street Journal & LA Times have written about, too.

So as Portugal continues to grow in its popularity for Americans moving abroad, we’re focusing in on the key components of such a move from a finance & investing lens. After all, those areas will impact your experience in Portugal, whether it’s two years or for the duration of your retirement.

Our team of advisors – Stan Farmer, CFP®, J.D; Syl Michelin, CFA; and Keith Poniewaz, Ph.D. – present and then answer questions in the second portion of the webinar. Questions before or after watching the webinar? Send us an email at info@walknercondon.com.

You can watch the full replay below or on Walkner Condon Financial Advisors’ YouTube channel.

If you have any questions, we’d encourage you to submit them ahead of time using the button below.

What are the Limits for My Investing and Spending Accounts?

What are the Limits for My Investing and Spending Accounts?

by | Apr 8, 2022 | ,

As we turn the page to the second quarter of 2022, it’s a good time to familiarize yourself with the changes to the more popular savings vehicles. It is imperative to understand the basics of these accounts to avoid mistakes, as the penalties can be quite onerous. This is not an exhaustive list, but it is a good place to start. 

The list is broken up into the appropriate categories of employer-sponsored plans, personal retirement plans, healthcare and spending accounts, and educational accounts.   

Employer-Sponsored Plans

401(k), 403(b), and most 457 plans have a new maximum employee contribution limit of $20,500, up from $19,500 in 2021. The overall maximum annual additions into defined contribution plans (which include 401(k) and 403(b) plans) increased from $58,000 to $61,000. 

Individuals aged 50 and older are allowed an additional $6,500 of contributions. Note that the “age 50 catch-up” amount did not increase from 2021 to 2022.

Personal Retirement Plans

IRA and Roth IRA contribution limits are unchanged at $6,000 for people under the age of 50 and $7,000 for individuals 50 years old and older. 

The traditional and Roth IRA income phase-out ranges are also increasing. 

Healthcare and Spending Accounts

Health Savings Account contribution limits increased from $3,600 to $3,650 for individuals and $7,200 to $7,300 for families. 

The HSA catch-up contribution for individuals 55 years old and older is an additional $1,000. This is unchanged from 2021.

The  Health Care Flexible Spending Account (FSA) limit has increased to $2,850 in 2022 – up from $2,750 in 2021.

The Dependent Care FSA limit in 2022 has reverted back to $5,000 for a married couple filing a joint tax return. The American Rescue Plan temporarily increased the limit to $10,500 in 2021.

529 College Savings Plan

529 plans do not have contribution maximums; however, contributions are considered completed gifts for federal tax purposes, and in 2022 up to $16,000 per donor ($15,000 in 2021), per beneficiary qualifies for the annual gift tax exclusion.

The Coverdell IRA contribution limit is $2,000 per student, per calendar year. 

The annual changes to contributions and income limits are not consistent year-over-year; therefore, understanding the changes and how they affect your specific situation is important. It is a good idea to check your contribution levels early in the year as payroll adjustments and/or automatic contributions into your IRA accounts may be required periodically.

WEBINAR: Global Markets and Investing Outlook for 2022

WEBINAR: Global Markets and Investing Outlook for 2022

by | Jan 6, 2022 | ,

While U.S. markets have outperformed international markets for more than 10 years, non-U.S. equities still have their place in a diversified portfolio, as we’ve previously discussed in an episode of Gimme Some Truth.

So as we turn the page to 2022, we wanted to examine the international picture and outlook ahead for U.S. expats. Walkner Condon’s team of U.S. expat advisors welcomed Gregg Guerin, a London-based Senior Product Specialist from the First Trust Global Portfolios team, to dive into the Global Financial Markets.

You can catch the full replay of the webinar below or by visiting Walkner Condon Financial Advisors’ YouTube channel.

If you have any questions from the webinar, feel free to use the button below to let us know.

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DISCLOSURES
Walkner Condon Financial Advisors is a registered investment advisor with the SEC and the opinions expressed by Walkner Condon Financial Advisors and its advisors in this webinar are their own. Registration with the SEC does not imply a certain level of skill or training. All statements and opinions expressed are based upon information considered reliable although it should not be relied upon as such. Any statements or opinions are subject to change without notice. Information presented in this webinar is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and unless otherwise stated, are not guaranteed. Information in this webinar does not take into account your specific situation or objectives and is not intended as recommendations appropriate for any individual. Viewers are encouraged to seek advice from a qualified tax, legal, or investment advisor to determine whether any information presented may be suitable for their specific situation. Past performance is not indicative of future performance.

Syl Michelin and Stan Farmer Join Walkner Condon

Syl Michelin and Stan Farmer Join Walkner Condon

by | Sep 1, 2020 |

Walkner Condon Financial Advisors is pleased to announce that Syl Michelin and Stan Farmer are joining Keith Poniewaz on the International Advisory Services Team at Walkner Condon. Syl and Stan join our team after serving as financial advisors at Thun Financial in Madison, managing over $250 million in assets for clients in the United States and around the world. Their extensive expertise in working with expats and familiarity with acting as fiduciaries in a fee-only capacity made the two of them great cultural fits for our organization.

Prior to his time at Thun, Syl, a native of France, worked as an advisor for Citigroup in London and New York City. In addition to joining the International Advisory group, Syl, a CFA® charter holder, will be serving as Director of Portfolio Strategy for the firm as a whole.  

Stan, who will also be serving as Director of International Planning, worked at Morgan Stanley and Merrill Lynch in the United States prior to Thun. He previously worked in private equity in Dubai, Portugal, and Angola. A former lawyer and a CFP®, Stan is an expert in mixed nationality couples planning and has appeared in International Investment and Investment News.

Creative Planning LLC to Acquire Thun Financial Advisors

Creative Planning LLC to Acquire Thun Financial Advisors

by | Jun 16, 2020 |

In a letter sent to clients on 6/15/2020, Thun Financial indicated that they are in the process of being sold to Creative Planning, L.L.C. Creative Planning will be purchasing the assets of Thun, effectively folding Thun into the larger entity.

What Does this Mean for Thun Financial’s Clients?

According to the letter, the transaction will close in the third quarter of 2020. Relationships will be moved to the new firm and assets will transfer over under Creative Planning’s management.  Clients are being asked to sign a letter consenting to the changes, though it is a “negative consent” letter, meaning that assets will transfer if no explicit refusal to transfer assets is made.

Who Does This Benefit?

In many cases when firms move, they will change custodians or leave a more onerous broker/dealer with antiquated technology or a captive situation (such as an insurance company or a focus on proprietary products). In this situation, however, it is not the case. It appears the custodians will remain the same, with advisors also expected to be maintained. Resultantly, it is likely that the owner of the firm will benefit the most from this transaction. It is almost certain that a large payment will be made, often spread over multiple years depending on the clients that stay with the new company. Advisors may be also compensated with bonuses, although in many cases a bonus will come with strings attached such as non-solicit and/or non-compete arrangements.

OK….So Will I Benefit?

Great question, and a fair one to ask your current advisor as well as the owners (or senior management) of both firms. Items you may choose to inquire about include the current pricing for the new firm, the technology changes you may face, and how your experience may be improved. It is also not out of bounds to ask about advisor and owner compensation in this transaction as well as if your advisor will now be tethered to a new firm through an employment agreement. There is nothing wrong with an owner cashing in their proverbial “chips”, but as a client you have a right to know. Additionally, you should vet the new firm by checking out their website and the SEC public disclosure website and firm ADVs to educate yourself on any past regulatory issues and if you are comfortable with them. 

What Are My Options?

You should take your due diligence seriously, particularly if you feel the new firm does not have a firm commitment to expats. You should certainly speak to those at Thun that you feel will help you make this decision, as well as other firms that work with expat investors. In being blatantly transparent, it’s what we do, and we would like to discuss how we can improve your wealth management experience. Find our more on our expat website, or schedule an appointment.

Clint Walkner