Investing
Schwab Targets Americans in the UK With New Investment Products
Firm says people living in Britain will get exposure to diversified US products, access to which has long been hampered by reporting and regulatory rules.
A Charles Schwab location in New York.
Photographer: Victor J. Blue/BloombergThis article is for subscribers only.
For years, Americans investors living in Britain have faced a dilemma. While they could easily invest in single US stocks, they faced rules on both sides of the Atlantic that hindered them from getting the sort of diversification that comes from American mutual funds and ETFs.
That will start to change this week, with the brokerage Charles Schwab releasing a new service called Managed Account Select. The new accounts will be based in the US and overseen by US-based managers, potentially reducing tax burdens on American investors in Britain.