Ultra-wealthy Americans increasingly book assets abroad, seeking flexibility and policy safety

Citi’s Global Head of Client Solutions, Darlene Patterson, told one outlet that she has never before witnessed U.S. ultra-rich clients actively seeking to book assets outside the United States, marking a historic change in wealth-management behavior. Clients are pursuing additional residencies or golden-visa programmes in Italy, Portugal, Jersey, Australia, New Zealand and similar locales to enhance lifestyle flexibility and hedge against perceived policy risk in America.

Patterson distinguishes this from full expatriation, noting that many still retain a substantial domestic portfolio. The observation is shared by immigration adviser Nuri Katz, who cites Americans as his fastest-growing market, and by Citi’s family-office leader Richard Weintraub, who reports that newly created U.S. wealth routinely asks for global booking options such as Swiss or Singapore accounts. Recent Citi, UBS and Henley & Partners reports document a $3.06 trillion shift toward five major financial hubs between 2025 and 2029, driven by lifestyle, business growth and resilience motives, while U.S. allocations actually rose modestly, underscoring diversification rather than capital flight.