Advisor Profile: Rebecca Hall, ChFC®, CFP®, CASL®
01/12/2012
Financial planning is a complex process for most people, and
it can be especially so for those who live in our country
temporarily on special visas. When families in these
circumstances seek financial advice, they require someone who
understands the intricacies of their unique situation.
An interest and educational background in economics and
international studies helped land Rebecca Hall, a private
wealth advisor with Ameriprise Financial, where she is today.
Based in Washington D.C., Hall specializes in serving foreign
nationals, like diplomats and employees of aid organizations.
Her previous work at the World Bank helped familiarize her
with the special needs of these clients, including how their
residency status impacts their financial investments and
taxes.
"My clients have the same goals as most people - financing a
comfortable retirement, sending their children to college and
helping their aging parents - but they often can't use the
same types of investment strategies due to their status as
foreign nationals," says Hall. "Many times, they are paying
tuition for their children in a different country or are
supporting parents who are still living overseas. They might
even plan to retire across the globe themselves, which can
further complicate planning."
Hall often begins her relationship with her clients by
teaching them the basics of saving and investing, including
what options are available to them - which are sometimes
limited due to their residency status. There may also be
cultural considerations or biases that affect planning. For
example, some of Rebecca's clients are not comfortable
borrowing money or investing in certain types of companies
due to religious or other cultural beliefs.
No financial plan is the same, but with foreign nationals,
Rebecca approaches each situation as entirely unique. The
U.S. tax code and international treaties are only a few of
the factors that dictate what kind of funds a client may
invest in or to which taxes he or she is subject. "There are
many challenges with these particular clients including how
their official legal status may inhibit them from investing
and saving for their financial goals, down to smaller details
like the impact that currency fluctuations can have on their
savings," says Hall.
But despite the challenges, there are also endless rewards to
working with such diverse clients. "Sometimes we communicate
in French or Spanish and seeing things from the perspective
of those with a different worldview is really amazing. It
often makes me realize how much we take for granted in this
country," Hall admits. "I am fortunate to have the
opportunity to learn so much from my clients."
Hall encourages her clients and other foreign nationals to
consult with a network of professionals including a tax advisor
and estate attorney who specialize in working with
international clients, in addition to a financial planner.
"It's so important to understand the special situation of each
client," says Rebecca. "Taking all the right precautions and
really knowing how to navigate the extra regulations these
groups are subject to is key to ensuring that they make the
most of their ability to invest strategically and reach their
financial goals."
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Ameriprise Financial and its representatives do not
provide tax or legal advice. Consult your tax advisor or
attorney regarding specific tax issues.
Brokerage, investment and financial advisory services
are made available through Ameriprise Financial Services,
Inc. Member FINRA and SIPC. Some products and services may
not be available in all jurisdictions or to all clients.
© 2011 Ameriprise Financial, Inc. All rights
reserved.
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