101. Cross Border, Cross Country: Meet the British Financial Planner Taking on America

What does America look like through the eyes of a British financial planner who has just moved across the Atlantic? In this episode of Expat Wealth, Richard Taylor introduces Cross Border, Cross Country: a new recurring format following Plan First Wealth’s newest team member, James “JB” Beck, as he travels across the US while making the transition from experienced UK financial planner to US-UK cross-border specialist. JB lands in America with a decade of financial planning experience behind him, including eight years working with business owners at UK firm Fiscal Engineers. He knows the British system inside and out. But moving to the US means learning an entirely different rulebook: US tax, UK pensions and US pensions sitting awkwardly side by side, the US-UK tax treaty, and the everyday financial quicks nobody warns you about. In other words, the same challenges faced by the British expats Plan First Wealth works with every day. And JB isn’t experiencing America from one place. For the next 18 months, he and his wife are living on the road in a 43-foot RV pulled by a Ford F-350, using the journey to explore different states, communities and lifestyles while deciding where they might eventually put down roots. Richard will be checking in with JB throughout the journey, following both sides of his experience: what he discovers about life across different parts of America and what surprises him as he develops from a UK financial planner into a cross-border US-UK adviser. In this first instalment, JB explains why a Year 9 maths lesson ultimately pushed him towards financial planning, why joining Plan First Wealth felt like a natural fit, and how experiencing the same international move as the firm’s clients gives him a unique perspective on the financial realities of relocating to America. They also discuss the first culture shocks JB has already encountered — from visiting a bank manager and getting a chequebook to discovering how the US financial system works very differently from the UK — before looking ahead to an 18-month route that will take him from New Hampshire through the Carolinas, the South, Texas and across much more of the country. Whether you're moving to America, already deep in the British expat experience, or just want honest expat tax advice and cross-border financial planning from someone living it, this is where the journey starts. Expat Wealth is supported by Plan First Wealth. Plan First Wealth is a Registered Investment Advisor serving fellow expatriates and immigrants living across the US on matters such as retirement planning, investment management, tax planning and non-US asset management. https://planfirstwealth.com/ Expat Wealth is affiliated with Plan First Wealth LLC, an SEC registered investment advisor. The views and opinions expressed in this program are those of the speakers and do not necessarily reflect the views or positions of Plan First Wealth. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser and/or tax professional before implementing any strategy discussed herein. Plan First Wealth does not provide any tax and/or legal advice and strongly recommends that listeners seek their own advice in these areas. ABOUT RICHARD: Richard Taylor is a British expat and dual UK-US citizen. Originally from Bolton, he now lives in Greenwich, Connecticut, where Plan First Wealth has its head office. As the firm’s leader, Richard launched Taylor & Taylor, now Plan First Wealth, and continues to fuel the firm’s growth. Richard is a Chartered Financial Planner (UK – CII) in addition to holding the IMC (CFA UK) and Series 65 (US – FINRA). Connect with Richard on LinkedIn ABOUT JB: James Beck is a UK Certified Financial Planner with ten years of experience in financial planning. Before joining Plan First Wealth, he spent eight years at Fiscal Engineers in the UK, working particularly with business owners who had sold their companies. Now living in the United States, JB is developing his US knowledge alongside his existing UK expertise as he works towards becoming a US-UK cross-border financial planner at Plan First Wealth. Over the next 18 months, JB and his wife will also be travelling across America in their RV, experiencing first-hand many of the cultural, financial and practical differences faced by people building a new life in the US.