We welcomed a new client in 2025, who is a US citizen living in Israel, following the retirement of her 95-year old advisor. The majority of the assets are custodied with one of our current custodians, so no asset transfer was necessary. However, the client noted that she holds some physical gold bars in storage and custody at Wells Fargo, where she had an advisor many years ago, and she would get reports, the last of which dated back to 2020. The Wells Fargo advisor she had worked with was no longer with the firm. Wells Fargo is also known for not always allowing non US-based advisory clients to remain with them. 

We had also learned that other banks were getting out of the precious metals business, and were concerned that either one of two scenarios would occur,

1. That Wells Fargo would no longer store the gold bars
2. That even if they did, they may have transferred them to a “lost property” or “unclaimed assets” account, owing to the client not being in touch. 

So the race was on to (a) find another precious metals custodian and (b) contact Wells Fargo with the client to reconfirm her ownership of the assets. 

We were able to find another precious metals custodian. The next stage was to contact Wells Fargo. This has been a lengthy and tedious process, that has been managed by our US service team, including many calls with the client on the phone too. 

At the time of writing, Wells Fargo has reconfirmed the client’s ownership of the gold bars, and we believe that they will continue to store them. And if not, then we have another storage solution in place.

This is a good example of a situation where it would be very difficult for a US expatriate to communicate effectively with US banks and custodians, without US based assistance, which Nardis provides.   

Thinking About Moving to Israel?

You don’t have to make a radical, all-or-nothing decision overnight. But if the idea has been on your mind, we’re happy to chat.

Whether you’re:

• Planning retirement in Israel,
• Exploring dual-continent work,
• Or just curious what the day-to-day is like here,

…feel free to reach out. We’ve also published the following blogs you might find helpful:

• Checklist for moving to Israel
• Immigrating to Israel
• A guide to retiring in Israel

Let’s Talk!

We’re financial advisors for expats, both in the U.S. and in Israel, and can help you plan your transition wisely. Whether you’re balancing U.S. assets, managing remote income, or figuring out healthcare and retirement, we’ve helped dozens do just that.

If you are moving to Israel or another country and don’t know where to start when it comes to the financial side of things, please contact us.

If you would like to receive our updates, please sign up for the Nardis Advisors newsletter to stay informed.

SUBSCRIBE to the Nardis Advisors YouTube channel or ongoing updates related to the markets, economy, and finance for expats.

CONTACT US to schedule a time to speak with Nardis Advisors regarding your portfolio and personal financial plan.

Disclaimer

Nardis Advisors LLC (“Nardis”) is a Registered Investment Advisory Firm regulated by the U.S Securities and Exchange Commission in accordance and compliance with applicable securities laws and regulations. Registration does not imply a certain level of skill or training. Nardis does not render or offer to render personalized investment advice through this medium. The information provided herein is for informational purposes only and does not constitute financial, investment or legal advice. Investment advice can only be rendered after delivery of the Firm’s disclosure statement (Form ADV Part 2) and execution of an investment advisory agreement between the client and Nardis.