Toronto, ON - January 13, 2026 - Cardinal Point Wealth Management has released an advisory underscoring the vital necessity for financial, tax, estate, and wealth management clients to verify that their cross-border professional advisors are licensed in both the United States and Canada. Dual-border asset management involves far more than merely coordinating investments. A depth of regulatory knowledge, experience, and authorization is required to successfully navigate the complex legal and tax systems of two different nations.

Managing assets and planning for retirement in one country can be complicated and confusing enough. But doing so across two jurisdictions—each with its own tax laws, retirement structures, estate regimes, and compliance requirements—adds ever-changing layers of intricacy that few advisors are trained or qualified to handle. Fortunately, a dual-licensed team can provide integrated oversight that ensures advice is consistent, compliant, and coordinated across both sides of the border.

Why Dual Licensing Matters

Cross-border clients often encounter issues when working with advisors licensed in only one country. The result can be misaligned or less informed advice, double taxation, and unnecessary and unexpected legal or financial risk.

Taxation

Without a unified approach, dual tax residents can lose access to U.S.- Canada treaty benefits or face double taxation. Other common pitfalls include U.S. citizens in Canada contributing to Tax-Free Savings Accounts (TFSAs) or holding Passive Foreign Investment Companies (PFICs) in non-registered accounts, without fully understanding U.S. tax implications.

Retirement Planning

Coordinating withdrawals from both U.S. and Canadian retirement accounts can be difficult without professional guidance from someone who understands the tax treaties and distribution rules for each system. Advisors licensed in only one country may overlook how required minimum distributions (RMDs) or RRIF withdrawals impact Medicare premiums or Old Age Security (OAS) clawbacks.

Estate Planning

Estate and probate laws differ significantly. Without proper cross-border estate planning, families may face unnecessary taxes or delays. Dual-licensed advisors can align U.S. and Canadian estate strategies, ensuring wills, trusts, and designations are structured appropriately for assets held in both countries.

Investment Regulations

Advisors licensed only in Canada cannot legally manage U.S. accounts such as IRAs, while U.S.-only advisors are restricted from overseeing Canadian accounts like RRSPs. Attempting to consolidate assets without proper authorization can trigger costly penalties. But a dual-licensed firm can advise on both, ensuring consistent compliance and asset allocation.

Compliance Reporting

Failure to meet cross-border reporting obligations can also result in severe penalties. U.S. taxpayers must comply with the Foreign Account Tax Compliance Act while Canadians must report foreign property over $100,000 CAD on Form T1135. Qualified cross-border advisors help clients remain compliant with the IRS, CRA, and securities regulators in both countries.

The Advantages of Dual-Licensed Advisors

Frequently, financial professionals licensed in only one jurisdiction must outsource parts of a financial plan, resulting in fragmented advice. By contrast, a dual-licensed team provides:

• Integrated Advice: Coordinated tax, investment, and estate strategies covering both countries.

• Comprehensive Oversight: Unified portfolio management that minimizes duplication.

• Tax Efficiency: Planning that optimizes wealth accumulation and withdrawal timing.

• Regulatory Assurance: Compliance with both U.S. and Canadian regulators, reducing risk.

• Peace of Mind: Confidence that all advice and actions align across borders.

Evolving Regulations Require Ongoing Expertise

Tax and securities laws continually change. Dual-licensed advisors are positioned to anticipate and respond to updates from both the U.S. Securities and Exchange Commission (SEC) and Canadian provincial regulators. Their proactive oversight helps cross-border clients adjust before changes impact portfolios or filings, avoiding reactive corrections later.

Key Takeaways

• Dual licensing is essential: Only professionals authorized in both countries can advise on cross-border assets.

• Compliance matters: Missteps under FATCA or CRA foreign reporting rules can be costly.

• Tax and estate laws differ: Coordinated planning reduces exposure to double taxation and probate delays.

• Cross-border retirement requires expertise: Aligning IRAs, RRSPs, CPP, OAS, and Social Security improves efficiency.

• Regulatory change continues: Dual-licensed advisors help clients stay compliant and informed.

What This Means for You

For individuals and families with income or property in both countries, relying on a single-country advisor can leave critical gaps. Dual-licensed professionals provide cohesive cross-border wealth management—covering investment oversight, tax coordination, and estate planning within both legal systems.

As cross-border lifestyles grow more common, dual licensing ensures advice remains synchronized, compliant, and designed to optimize wealth in an increasingly complex financial landscape.

About Cardinal Point Wealth Management

Cardinal Point Wealth Management provides integrated financial, tax, and estate planning services for clients with assets in Canada and the United States. The firm specializes in cross-border wealth management, cross-border tax planning, and cross-border estate planning, serving as a trusted Canada–U.S. expat advisor for individuals and families managing assets across both jurisdictions. Its multidisciplinary team assists clients with complex taxation and compliance matters, ensuring every cross-border financial transition is handled accurately and efficiently.

Disclaimer: This press release may contain forward-looking statements. Forward-looking statements describe future expectations, plans, results, or strategies (including product offerings, regulatory plans and business plans) and may change without notice. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements.

Media Contact
Company Name: Cardinal Point Wealth Management, ULC
Contact Person: Kris Rossignoli, Senior Private Wealth Manager
Email: Send Email
Country: United States
Website: http://www.cardinalpointwealth.com/