Should I change my financial advisor when moving to another state?

hton17 — Thu, 01 Apr 2021 18:38:15 GMT

I'm moving permanently to Washington state this summer from California. I have both investment and IRA accounts managed by a local Wells Fargo financial advisor. He told me he can apply for a WA license to continue managing those accounts for me. However, I want to cut ties with California completely with my move to avoid any potential state taxes. Should I change my financial advisor when moving to another state? Would I have to pay any California tax(es) if I keep him with me? Thank you for your opinion.

Re: Should I change my financial advisor when moving to another state?

DaveF1006 — Thu, 01 Apr 2021 19:06:25 GMT

No. I don't think you need to change brokers because none of this income is income earned in the State of California. If your broker is willing to apply for a WA license, he will represent your interests while you live in the State of Washington. He doesn't physically need to live in Washington to manage your accounts if he has a Washington License.

topic Should I change my financial advisor when moving to another state? in Investors & landlords

Should I change my financial advisor when moving to another state?

Re: Should I change my financial advisor when moving to another state?