Need a bank or investment house that will administer a U.S. IRA for an expat living in Europe?

Question

I live in Italy and am a U.S. citizen. Before I moved to Italy I had my IRA's in an investment bank in the U.S., but now I have been told that this bank, due to international agreements between Italy and the U.S, can no longer administer transactions on my account. Any body know a financial institution ANYWHEREin the world that can handle this? I have tried for quite a while to find one with no luck...so, unless you know for SURE, please, I don't need any more "wild goose chases"

Answer 1

if your account is large enough, there are plenty of choices.

if it isn't, that's what is likely going on -- not "can no longer do so because of ....".

it sure seems to me that every brokerage in America is soliciting IRA accounts. What they want is to house them, not to manage the investing -- managing the investing is what the mutual fund company does [unless you have significant assets in the account -- then you can likely find a bank trust department to do the job for the usual fees.].


GL