Made some inquiries and did some transactions to help with cross border financial planning.
- Moved some of my US mutual funds to their equivalent ETFs. Easy to do since it was all in the US and this is part of my cross border preparation discussed earlier in the blog. The Vanguard rep was fine with the conversion but knew nothing about how to handle anything in Canada, was not even sure that Canadians can own US Vanguard ETFs. They can, and it is covered in this Moneysense Canada article.
- Talked to my US bank about possibly leveraging US house to buy Canadian property. Complete stupefaction - had no idea if it was possible or what I was trying to do. I gave up.
- Called Canadian bank about getting a Canadian mortgage as a US resident and citizen. No problem, they knew exactly what to do. They have lots of experience with the US and also do a lot of business with immigrants to Canada.
So, the lesson is that Canadians know how to deal with international personal finance and the average US bank or brokerage does not.