Frequently Asked Questions
Find clear answers to common questions on taxes, investments, and financial planning for expats navigating life abroad.
What happens if my US-based custodian closes my brokerage accounts, because I am no longer resident in the US?
You will need to establish a new account at a US-based custodian who does provide custody for people living outside the US. Read our US expat case study for a description of how that was handled for one particular client.
Also please note that while some US custodians may allow your account to remain open, they may not permit purchases of new securities, or of certain types of securities. Hence we believe you will want to transfer to an account that offers more investment flexibility.
If I live abroad as a US citizen, do I have to pay taxes in both places?
This is possible but in almost all cases, tax treaties between the US and the country of your residence ensure you are not paying double taxation. If your tax rate is higher in the country of residence than the US, then you will still file a US tax return but most likely not pay additional taxes.
Where you pay and how much depends on many factors, such as if you are working, immigration status, and specific tax jurisdiction. For more specific answers we will gladly refer you to an expat-focused CPA. And don’t forget to file your US tax return every year!
How does social security in the country I live in now work in conjunction with USA social security?
Generally, if you are eligible for foreign pension plans, then your US social security benefits may be reduced up to 50%. However, this is not always so. For example, if one receives money from Israel National Insurance, then this does not impact the level of your US Social Security benefit. For further information read my article on Linkedin.
I moved abroad in the past few years – what should I be doing with my money in the USA?
Generally for US citizens living broad, we think that liquid portfolios of stocks, bonds, mutual funds, ETFs etc should continue to be managed in US domiciled accounts, unless you need to live off that money or if you need funds to purchase a home.
Investments in overseas domiciled mutual funds are taxed at a high rate by Uncle Sam. Also, your US-based retirement accounts (IRA, SEP IRA, 401k etc) cannot be transferred elsewhere without penalty (unless you have reached age 59.5).
How do I pay bills and taxes in the US if I am abroad?
This is a matter of setting up your bank accounts correctly. We also offer the ability to pay bills, as well as pay your US taxes from your brokerage account. We can work with you to get this arranged.
How do I manage fluctuations in currency exchange rates in my portfolio?
This is best addressed through a strategy that is mindful of currency exposures, and possibly owning assets in multiple currencies. We can put together for you an investment plan to address this.
About Nardis Advisors
Are you licensed to give financial advice in both Israel and the USA?
Yes. We are among the very few advisory firms fully licensed and authorized to provide financial advice in both Israel and the United States. This dual licensing allows us to manage investments and offer guidance across borders while maintaining full regulatory compliance in each jurisdiction.
Do you hold any international financial planning certifications?
While we do not currently hold international certifications such as CFP® or equivalent, our experience and licensing in both Israel and the U.S. provide a deep, practical understanding of cross-border financial issues, which is often more relevant and valuable to our clients’ needs.
Are you a fiduciary, and what does that mean in practice?
Yes, we act as fiduciaries for our clients. This means we are legally and ethically bound to put your best interests first at all times. Our recommendations are based solely on what benefits you, without any hidden incentives, commissions, or product-based conflicts of interest.
How many clients do you have who are U.S. retirees living in Israel?
We currently work with several dozen U.S. retirees who have relocated to Israel. This has given us extensive experience in addressing the unique financial challenges and opportunities that come with living in Israel while maintaining assets or income sources in the United States.
Do you specialize in cross-border financial planning?
Yes. Cross-border financial planning is our core specialty. We focus on helping clients who have financial lives that span both Israel and the U.S., including tax coordination, retirement income planning, currency management, and investment strategies tailored to dual-country regulations.
How long have you been advising clients with both Israeli and American assets?
We have been advising clients on U.S.-based assets since 2010 and expanded our services to include Israeli-based assets in 2017. This experience provides us with a comprehensive understanding of both financial systems and the nuances of managing wealth across borders.
Do you speak Hebrew fluently?
Yes. Our advisors are fluent in Hebrew, which allows us to communicate effectively with Israeli financial institutions, professionals, and clients who prefer to conduct business in Hebrew.
Do you have familiarity with Israeli banking systems and requirements?
Yes, we are very familiar with the Israeli banking system and its regulations. We routinely assist clients in navigating account setup, compliance requirements, and cross-border money transfers in coordination with Israeli banks and investment houses.
Do you understand U.S. tax laws affecting retirees in Israel?
Yes. We have a strong understanding of U.S. tax laws as they apply to American citizens living abroad, including those residing in Israel. We work closely with U.S.-based CPAs who specialize in expatriate taxation to ensure that your investments and income strategies remain tax-efficient and compliant.
Can you work with my Israeli accountant and U.S. CPA?
Absolutely. We frequently collaborate with clients’ Israeli accountants and U.S. CPAs to coordinate financial, tax, and reporting strategies. This team-based approach ensures that your financial plan remains cohesive, compliant, and optimized across both countries.
Fees & Compensation
Do you charge an asset-based fee or a flat fee?
We primarily operate on an asset-based fee model. This means our compensation is directly tied to the value of your portfolio — when your assets grow, we grow with you. This structure aligns our incentives with your success and ensures that our focus remains on long-term growth and financial security.
What is your percentage for asset-based fees?
Our fees vary depending on the total amount of assets under management and the type of account. We follow a transparent, tiered structure that is detailed in our official disclosure document, the ADV Part 2A. Clients receive full access to this document prior to engagement so they can review all terms clearly.
Are there any additional hidden charges beyond your stated fee?
No. We pride ourselves on transparency. Beyond our advisory fee, there may be nominal third-party costs such as trading fees, wire transfers, or custody charges from the investment custodian — but these are disclosed upfront and typically minimal. We do not receive any compensation from these providers.
How often do you reassess your fee structure?
Our fee structure is reviewed periodically to ensure fairness, competitiveness, and alignment with industry standards. However, it remains consistent for clients once established, with no surprise changes or hidden increases.
Can you explain how your fees compare to other advisors?
Our fees are generally in line with other independent, fiduciary-based advisory firms that specialize in cross-border financial planning. However, given the dual-country nature of our work, clients often find the value we provide — through tax coordination, currency management, and regulatory expertise — far exceeds what most domestic-only advisors can offer.
Are there penalties for leaving your services?
No. You are free to end our engagement at any time without penalties or exit fees. Our goal is to earn your trust through performance, transparency, and service — not through binding contracts.
Do you receive commissions from products you recommend?
No. We are a fee-only advisory firm. This means we do not receive commissions, referral fees, or any compensation from third parties for recommending specific financial products. Our only source of income is the advisory fee you pay us directly.
Will you disclose all conflicts of interest?
Yes, always. We maintain complete transparency with our clients regarding any potential conflicts of interest, in accordance with fiduciary and regulatory standards. Our disclosures, including potential conflicts, are available in our ADV Part 2A filing.
Do you offer fee-only financial planning?
Yes, we offer fee-only financial planning services in select cases. This option is ideal for clients who want comprehensive financial advice without ongoing investment management. It allows flexibility while maintaining the same fiduciary standard and professional insight.
Can you provide a written statement of your fees?
Absolutely. Every client receives a written statement detailing our fee schedule, structure, and services provided. Full fee disclosures are also available in our ADV Part 2A brochure, which we encourage all clients to review before beginning any advisory relationship.
Currency & Banking
How do you help clients manage money across shekels and U.S. dollars?
We provide comprehensive investment solutions in both U.S. dollars and Israeli shekels. Our goal is to simplify your financial life by ensuring your assets are managed efficiently in both currencies. This allows you to maintain flexibility in spending, investing, and withdrawing funds in the currency that best supports your lifestyle and needs.
Do you have strategies for minimizing currency exchange losses?
Yes. We develop tailored strategies for each client to help reduce the impact of currency conversion costs. This can include timing transfers strategically, consolidating exchanges to minimize fees, or using multi-currency investment platforms that reduce the need for frequent conversions.
Can you recommend currency exchange services in Israel?
Yes. In fact, we perform currency exchanges for our clients directly as part of our service offering. This often provides better rates and greater convenience than traditional banks or retail exchange providers, especially for clients moving significant amounts between the U.S. and Israel.
Do you help with opening Israeli bank accounts?
Yes, we can assist you throughout the process of opening an Israeli bank account. While the requirements and procedures vary by institution, our familiarity with Israeli banking systems allows us to guide you efficiently through documentation, compliance, and setup.
Can you set up multi-currency accounts?
Yes, we can assist in establishing multi-currency investment accounts that allow you to hold both shekels and U.S. dollars. While we are not a bank, our investment platforms are designed to support multiple currencies, offering flexibility for clients with cross-border financial lives.
How do you address exchange rate volatility in retirement planning?
Exchange rate fluctuations can significantly affect retirees living abroad. We take this into account when creating retirement income plans by modeling different currency scenarios, diversifying income sources, and ensuring sufficient liquidity in both shekels and dollars. This helps stabilize your income despite market or currency changes.
Can you recommend U.S. banks that work well with Israeli residents?
Most U.S. banks have limited capabilities for clients residing overseas due to regulatory restrictions. However, we can recommend specific financial institutions and custodians that are experienced in serving U.S. citizens living abroad and can accommodate cross-border needs such as international transfers and account access.
Do you have relationships with Israeli banks for better rates?
Yes. We conduct foreign exchange transactions in-house for our clients, but we also maintain working relationships with Israeli banks and can assist in negotiating favorable rates when necessary. In some cases, clients with higher transaction volumes can benefit from preferential exchange terms.
How do you advise clients on transferring large sums from the U.S. to Israel?
We guide clients through each step of transferring funds between the U.S. and Israel to ensure the process is efficient, secure, and fully compliant. This includes advising on documentation, ensuring the source of funds is properly declared, and preparing Israeli banks in advance to avoid unnecessary delays or compliance issues.
Do you plan around Bank of Israel regulations on foreign currency?
Absolutely. All transfers, investments, and accounts are structured in accordance with Bank of Israel regulations. We stay current with evolving rules to ensure every client’s financial plan remains compliant, transparent, and optimized for both jurisdictions.
Aliyah-Specific Issues
How do you plan for financial needs before, during, and after aliyah?
We take a holistic approach to aliyah financial planning. This begins with identifying your current assets, income sources, and financial goals before the move. We then develop a customized transition plan that accounts for both Israeli and U.S. regulations, ensuring your investments, cash flow, and taxes are managed seamlessly throughout the relocation process.
Do you understand Israeli pension laws?
We have a working knowledge of Israeli pension and retirement laws, and we coordinate with licensed Israeli pension consultants for specialized advice. This collaboration ensures that your pension benefits and retirement plans are aligned with local regulations and optimized for your long-term financial security.
How do you help maximize oleh benefits?
While we do not directly handle the administrative aspects of aliyah or oleh benefits, we work closely with clients to ensure their financial and tax strategies take full advantage of the incentives and exemptions available to new immigrants. We also connect clients with trusted organizations that specialize in navigating government benefits.
Do you know the tax exemptions available for new immigrants?
Yes. We are familiar with the tax exemptions offered to new olim, such as the 10-year exemption on foreign income. We integrate these benefits into your overall financial plan to ensure compliance while maximizing the advantages available under Israeli law.
Can you guide me on transferring my U.S. retirement accounts to Israel?
Yes, we can provide detailed guidance. However, in most cases, we do not recommend transferring U.S. retirement accounts to Israel due to tax implications, reporting complexity, and potential loss of flexibility. Instead, we typically advise keeping these accounts in the U.S. while structuring your withdrawals strategically for life in Israel.
Do you help avoid double taxation?
Yes. The U.S.-Israel tax treaty does an effective job of preventing double taxation when applied correctly. We coordinate with cross-border tax professionals to ensure your income, pensions, and investments are structured efficiently, minimizing unnecessary taxes in both countries.
Can you recommend insurance products available to olim?
We can provide general guidance and recommendations on available life, health, and long-term care insurance products in Israel. However, for specific policies and coverage, we refer clients to licensed insurance professionals who specialize in serving the expatriate and oleh community.
How do you plan for Israeli health insurance costs?
While we do not directly manage healthcare planning, we help clients anticipate and budget for Israeli health insurance costs as part of their broader retirement or relocation plan. We also refer clients to local experts for detailed comparisons of private and public coverage options.
Can you assist with investment accounts that are compliant in both countries?
Yes. We offer investment accounts that are fully compliant with both U.S. and Israeli regulations. These accounts are designed to help American citizens living in Israel avoid tax complications while maintaining access to globally diversified portfolios in either currency.
How do you handle FATCA compliance?
We ensure all client accounts are structured to meet FATCA (Foreign Account Tax Compliance Act) requirements. For complex tax reporting needs, we coordinate with qualified U.S. CPAs and tax preparers who specialize in expatriate compliance to ensure everything is properly documented and filed.
Investments
Do you manage investments in both U.S. and Israeli markets?
Yes. We manage portfolios that include both U.S. and Israeli investments, depending on your residency, tax status, and long-term goals. Our approach is fully compliant with cross-border regulations and designed to optimize after-tax returns while maintaining liquidity and accessibility in both countries.
Can you invest my money in shekels, dollars, or both?
Yes. We offer multi-currency investment strategies. This means you can maintain exposure in both U.S. dollars and Israeli shekels, allowing for flexibility in withdrawals, expenses, and diversification across currencies. This helps protect you from exchange rate volatility and inflation in either country.
How do you handle investment accounts for dual citizens?
We work with financial institutions experienced in serving dual U.S.–Israeli citizens. Your accounts are structured to comply with FATCA and SEC regulations while maintaining access to a wide range of global investment options. We ensure all reporting and compliance obligations are met, simplifying your experience as a cross-border investor.
Do you follow U.S. or Israeli investment regulations?
We adhere to both, depending on the nature of your accounts and your residency status. Our firm is licensed in the U.S. to provide investment advice and works with Israeli-licensed partners when local regulation requires it. This dual-compliance structure ensures you remain protected and fully legal under both systems.
Can you coordinate with my U.S. investment manager or Israeli advisor?
Absolutely. Collaboration is a cornerstone of our service. We often coordinate directly with clients’ existing advisors—both in Israel and the U.S.—to align portfolio strategy, risk management, and tax efficiency. Our goal is to ensure your global portfolio operates as one cohesive, well-managed plan.
Do you offer U.S.-compliant investment options for Americans living in Israel?
Yes. Many Israeli banks and advisors face restrictions when managing investments for U.S. citizens. We specialize in offering U.S.-compliant, cross-border investment accounts that meet all IRS and SEC reporting requirements while remaining accessible to clients living in Israel.
What is your investment philosophy?
We believe in disciplined, evidence-based investing. Our strategies emphasize diversification, low-cost implementation, and long-term focus rather than market timing or speculation. Each portfolio is customized based on your risk tolerance, income needs, and currency exposure—helping you grow wealth with confidence and clarity.
How do you manage risk in cross-border portfolios?
Risk management is built into every step of our process. We monitor currency fluctuations, tax exposure, and market volatility across both economies. By blending U.S. and Israeli assets intelligently, we aim to preserve capital while achieving sustainable growth in both local and global markets.
Can you help me invest in Israeli real estate or startups?
Yes. While we do not directly manage property or startup investments, we can advise on how these fit into your overall financial plan. We assess liquidity needs, currency risk, and potential tax exposure, ensuring your alternative investments complement your broader strategy.
Do you rebalance portfolios regularly?
Yes. We conduct regular portfolio reviews and rebalancing to maintain alignment with your goals, risk profile, and market conditions. This disciplined process keeps your investments on track, especially as your life circumstances or residency status evolve.
Taxes & Compliance
Do you coordinate with tax professionals in both the U.S. and Israel?
Yes. We work closely with both U.S. CPAs and Israeli tax advisors to ensure your financial plan is fully integrated and compliant with both tax systems. Our goal is to minimize unnecessary taxation and reporting errors while aligning your investment and income strategies across borders.
Can you help me avoid double taxation?
Absolutely. The U.S.–Israel Tax Treaty offers mechanisms to prevent double taxation, but applying them correctly requires coordination between advisors in both countries. We ensure that income, pensions, and investment returns are reported accurately and structured efficiently so that you only pay what’s legally required—nothing more.
Do you understand the tax reporting requirements for Americans in Israel?
Yes. We are well-versed in FATCA, FBAR, and IRS foreign reporting rules for U.S. citizens living abroad. We also understand Israeli tax obligations for residents with global income. Our guidance ensures you remain compliant while optimizing your financial structure in both jurisdictions.
Can you prepare or file my taxes?
We do not personally prepare or file tax returns. However, we collaborate with trusted, highly experienced CPAs in both the U.S. and Israel who specialize in cross-border taxation. We stay involved throughout the process to ensure all financial planning decisions align with your tax strategy.
Do you help with FATCA and FBAR compliance?
Yes. We ensure that all accounts under our management are structured for FATCA compliance and that clients are aware of FBAR reporting requirements. Our firm proactively coordinates with your tax preparer to ensure full transparency and accuracy in every disclosure.
How do you plan for taxes on retirement income from the U.S.?
We help structure withdrawals and distributions from IRAs, 401(k)s, and Social Security in a tax-efficient way under both U.S. and Israeli law. Through careful planning, we can often reduce or defer taxes while maintaining compliance with both governments.
Can you assist with Israeli tax residency planning?
Yes. We provide guidance on how residency affects your tax status in both countries. Working with Israeli accountants, we help you understand when you may become an Israeli tax resident and how to structure your finances accordingly to protect income and reduce future liabilities.
Do you provide guidance on Social Security and U.S. pension taxation?
Yes. We frequently advise retirees on how their Social Security and U.S. pension income will be treated under Israeli tax law. We help ensure benefits are received efficiently, with the appropriate withholdings and reporting handled correctly to avoid unnecessary tax exposure.
Can you advise on Israeli capital gains and investment taxes?
We provide general guidance on how capital gains are treated in Israel and how they interact with U.S. tax obligations. For more detailed calculations and filings, we coordinate with local accountants to ensure you stay compliant while maximizing your after-tax returns.
How do you keep up with changing international tax laws?
We continuously monitor updates to both U.S. and Israeli tax regulations and participate in professional cross-border financial planning networks. This allows us to adapt strategies quickly and keep your financial plan compliant, current, and optimized.
Retirement & Estate Planning
How do you create retirement plans for Americans living in Israel?
We build customized retirement strategies that integrate both U.S. and Israeli financial systems. This includes managing income from Social Security, pensions, and retirement accounts while coordinating with Israeli banking, taxation, and healthcare considerations. Our goal is to create a smooth, sustainable income stream that supports your lifestyle throughout retirement.
Can you help me estimate how much I’ll need to retire comfortably in Israel?
Yes. We perform a comprehensive cost-of-living analysis based on your desired location, lifestyle, and family situation in Israel. We then factor in currency fluctuations, healthcare costs, and taxation to determine a realistic, personalized retirement target that supports financial independence and peace of mind.
Do you handle required minimum distributions (RMDs) for U.S. accounts?
Yes. We manage RMDs carefully to ensure compliance with IRS rules while minimizing the tax impact on your overall income. When you reside in Israel, we coordinate these distributions with local tax professionals to ensure they’re properly reported and taxed under both jurisdictions.
Can you help me decide whether to take Social Security early or later?
Yes. We evaluate your full financial picture—life expectancy, income needs, and tax implications—to determine the optimal time to claim Social Security benefits. For Americans living in Israel, we also consider how benefits are taxed locally and how they fit within your broader retirement income strategy.
Do you help with U.S. pension planning for retirees in Israel?
Yes. We assist in structuring pension income for maximum efficiency. This includes advising on distribution timing, currency conversion, and the impact of the U.S.–Israel Tax Treaty. We work to ensure your pension benefits are accessible, predictable, and properly coordinated with your Israeli income sources.
Can you assist with estate planning that covers both U.S. and Israeli assets?
Absolutely. Cross-border estate planning is one of our specialties. We coordinate with estate attorneys in both countries to create wills and trusts that comply with local laws, minimize taxation, and ensure your assets transfer smoothly to your heirs. Our goal is to preserve your legacy and protect your family’s future.
Do you help reduce estate taxes for dual citizens?
Yes. Through careful planning, we can help structure your estate to minimize exposure to U.S. and Israeli estate taxes. This may include the use of trusts, strategic gifting, or asset restructuring to take advantage of applicable treaties and exemptions.
Can you advise on inheritance laws in Israel?
We are familiar with the fundamentals of Israeli inheritance law and how it interacts with U.S. estate documents. While we are not attorneys, we collaborate with Israeli legal professionals to ensure your estate plan respects both jurisdictions’ legal and cultural requirements.
Do you provide succession planning for family businesses or investments?
Yes. For clients who own businesses or investment properties in the U.S. or Israel, we provide strategic guidance on succession planning, ownership transfer, and tax-efficient transitions. We work with accountants and attorneys to protect your business interests for the next generation.
Can you help me plan charitable giving or philanthropy across borders?
Yes. We assist clients in developing charitable giving strategies that align with both their personal values and tax goals. Whether donating through U.S. foundations, Israeli nonprofits, or international organizations, we ensure your philanthropy is structured efficiently and compliantly.
Coordination & Ongoing Support
How often will we meet to review my financial plan?
We meet as often as needed—typically at least once or twice a year—to ensure your plan continues to align with your evolving goals, family situation, and market conditions. We also remain available throughout the year for questions, updates, or major life events that may affect your financial picture.
Can we meet in person in Israel?
Yes. We regularly meet clients in Israel and welcome face-to-face discussions when possible. Whether you’re based in Jerusalem, Tel Aviv, or elsewhere, we make every effort to provide personal, attentive service that fits your schedule and location.
Do you offer virtual consultations?
Absolutely. We conduct secure meetings via Zoom or other online platforms, allowing clients to connect from anywhere in the world. This flexibility ensures consistent communication and access, no matter where you reside or travel.
Do your office hours align with Israeli time zones?
Yes. We operate during hours that accommodate both U.S. and Israeli clients, making it easy to connect without time-zone challenges. You’ll always have direct access to your advisor and support team when you need us most.
Can you coordinate with my U.S. CPA, Israeli accountant, or attorney?
Yes. We work collaboratively with your entire professional team—on both sides of the ocean—to ensure all aspects of your financial life are synchronized. Our cross-border coordination helps prevent gaps, redundancies, or tax inefficiencies that can arise when managing assets in multiple jurisdictions.
Do you assist clients who split their time between Israel and the U.S.?
Yes. Many of our clients divide their time between both countries. We provide ongoing guidance to help manage tax residency, investment exposure, and cash flow needs across borders, ensuring your finances remain organized and compliant no matter where you’re living.
Can you help with budgeting or cost-of-living planning in Israel?
We can provide general financial guidance and connect you with trusted professionals—such as relocation specialists or local advisors—who can assist with detailed budgeting and lifestyle planning in Israel. Our focus remains on ensuring your investment and income strategies support your day-to-day comfort and financial confidence.
Do you provide cost-of-living comparisons between Israeli cities?
While not our core specialty, we maintain general knowledge of living expenses in major Israeli cities. We also collaborate with local real estate and relocation professionals to help clients assess which areas best match their lifestyle and financial goals.
Can you advise on purchasing property in Israel as part of retirement planning?
Yes, we can advise on the financial considerations of owning real estate in Israel—such as liquidity, taxation, and exchange rate exposure. However, U.S. retirement accounts cannot directly purchase property abroad, so we help clients explore alternative, compliant strategies for achieving their real estate goals.
Do you offer ongoing support for financial emergencies or unexpected changes?
Yes. Life can be unpredictable, especially when living abroad. Whether it’s navigating an inheritance, responding to a market shift, or managing an unexpected expense, we are here to provide calm, informed guidance and help you make clear decisions under pressure.
How do you measure long-term success for your clients?
We believe success is measured not only by financial performance but by your overall sense of stability and peace of mind. When our clients feel confident that their financial life is organized, compliant, and purposefully aligned with their goals in both countries, we consider that true success.