What happens to an RESP when a family moves to the U.S.? + MORE May 8th

It’s a familiar story: a family builds their life in Vancouver, does all the right things, opens a registered education savings plan (RESP), contributes diligently, and collects the Canada Education Savings Grant (CESG). Then, an opportunity arises south of the border—a job offer, a lifestyle shift, a new chapter in California.

But as with most cross-border moves, what worked perfectly in Canada can quickly become complicated once you cross into the U.S. tax system. Let’s walk through a real scenario.

The case of Rhodes and the California move

Meet Rhodes, a Canadian-born child whose parents set up an RESP while living in Vancouver. Over the years, they contributed regularly and received CESG matching from the government.

In May 2025, Rhodes’ family relocated to California. Before leaving, they updated the RESP to reflect his mother as the subscriber to help simplify administration. Now settled in the U.S., Rhodes’ grandmother, still living in Canada, wants to continue contributing to the RESP to support his future education…

At some point, most Canadians are told they need a financial advisor. But is hiring one really necessary when you’re in your 30s and 40s, or can it wait until you’re closer to retirement? 

Like a lot of financial advice, the answer depends on your personal circumstances; it’s less about your age and more about the complexity of your finances. Financial advisors can provide valuable guidance as your income, investments, and responsibilities grow. But they also come with costs—either directly or through commissions. 

Here’s how to tell when you probably don’t need a financial advisor, and when hiring one may make sense.

When you probably don’t need an advisor

Before we dive into the situations when you might want an advisor, let’s look at when an advisor is unlikely to add much value:

Your finances are fairly simple. You have a steady income, no dependents, and a straightforward tax situation. Your investing is already handled through ETFs or a robo-advisor, and you’re not looking for help picking individual stocks or building a complex strategy…