BorderfolioFOR ADVISORS

For advisers in Europe

From the Swiss 35%to the Swedish ISK:one sourced review,under your name.

For a prospect before the transfer, a fixed-fee review of a DIY portfolio, or every client’s annual check: import the statements, see what six European countries withhold from dividends and what may be reclaimed before the claim lapses, national wrappers at their own rates and US against Irish funds, then deliver a client-ready report in your firm’s name.

Review a European sample portfolio Review a portfolio together

For advisers with internationally mobile clients and US persons in Europe, advice-only planners reviewing DEGIRO, Trading 212 and IBKR portfolios, and boutique wealth firms.

The sample is a read-only European demo firm: fictional clients, real prices. Ready for your own? Start a 30-day free trial, no card needed.

Illustrative: one client review — the statements, the cross-border brief, a finding and the report cover — drawn from the product's own components. Figures are examples, not client data. Reports are rendered from a stored snapshot and never change after later imports.

A real example

What one review found.

Switzerland withholds 35% from the dividends its companies pay, investors abroad included. For this German resident, about EUR 680 a year of the tax on Nestlé and Novartis may be reclaimable, and the claim for the 2023 dividends closes on 31 December 2026.

Why: the treaty between Switzerland and Germany limits the tax to 15%, but Switzerland gives individuals no relief at source on portfolio holdings, so the full 35% is taken and the 20% above the treaty rate comes back only through a refund claim. Germany credits Swiss tax only up to the treaty rate; the rest is never creditable at home. The review shows each holding at the domestic and the treaty rate, the refund route (for a German resident, online via VST-DE) and the last day to claim: three years after the end of the year the dividend fell due, then the claim lapses. Earlier years’ claims closing within six months are listed for the whole firm.

Decision support for professional review, not tax advice. Amounts are estimates from trailing distributions and depend on the broker and the paperwork. Withholding inside funds is not modelled, and a longer claim period set by a treaty is not checked: the statutory Swiss period is shown.

In the workspace
Withholding on European dividendsESTIMATED · ATTENTION

About EUR 1,190 a year is withheld on European dividends; about EUR 680 of it may be reclaimable under the treaties, depending on the broker and paperwork. Claim by 31 Dec 2029 · ESTV refund, online via VST-DE.

Assumes
Switzerland withholds 35%; 15% under its treaty with Germany; dividends projected from trailing distributions; Germany credits only the treaty rate
Source
VStG Art. 13 and 32(1); SIF/ESTV treaty table, 1 January 2026
In the client’s review
7Cross-border considerations
Withholding on European dividends

Switzerland withholds 35% on dividends paid abroad; for a resident of Germany the final cost under the treaty is 15%. About EUR 1,190 a year is withheld on the Swiss shares, of which about EUR 680 may be reclaimable from the Swiss Federal Tax Administration: EUR 380 on Nestlé and EUR 300 on Novartis. This year’s dividends can be claimed until 31 December 2029.

Dividends projected from trailing distributions; the actual year will differ. Reclaimable amounts depend on the broker and paperwork. Withholding inside funds is not modelled. Source: VStG Art. 13 and Art. 32(1); SIF/ESTV treaty table as at 1 January 2026.
8Adviser notes

Your commentary, printed in its own section and never mixed with Borderfolio’s analysis.

Illustrative: the same finding as it appears in the workspace and in a generated review. Figures are examples, not client data.

Import. Find issues. Deliver. Keep reviewing.

Every step stays under your control. Nothing reaches a client’s holdings until you have reviewed and confirmed it.

  1. 01

    Import the statements.

    Upload the client’s statements from any broker, check what was extracted, and consolidate every account in their currency.

    Review importIBKR · 2026 Q3
    PositionSharesStatus
    VT · XNAS323New
    SMMCHA · XSWX7New
    VWRA · XLON410Unchanged
    Transactions found80 duplicates
  2. 02

    Find the issues.

    Costs, income, currency, fund domicile, withholding and residence matters, each with its source, its assumptions and what it does not cover.

    Consolidated view2 accounts · USD
    By trading currencyUSD 94.9% · CHF 5.1%
    Time-weighted return+16.6%annualised, since inception
    Money-weighted return+16.7%XIRR
    Expected annual income699.78 USDfrom trailing distributions
  3. 03

    Deliver the review.

    A client-ready PDF under your firm’s name, your commentary set apart from the analysis, frozen as generated.

    Portfolio reviewgenerated today
    Sections9summary to limitations
    Adviser commentaryIncludedlabelled as yours
    SnapshotFrozenreproducible on every download
    BrandingFirm namelogo and contact on Practice
04

Keep reviewing.

The accounts stay in the workspace. Import the next statements and the checks run again; last year’s report stays as sent.

  • The firm’s deskEvery client screened at once, most urgent first.
  • Reviews dueEach client’s review cycle, with offered, held and declined reviews recorded.
  • Reclaim deadlinesWithholding above the treaty rate, with the last day to claim it, across every client.
  • Before a moveThe same holdings at the new residence’s rates, and what leaving triggers.

The workspace

Built around the way advisers work.

Clients, imports, consolidated value, cross-border findings and reports, in one workspace your whole firm can use.

The firm’s desk

Who needs me this week?

Every client screened at once: who has matters needing attention, who is over the US estate threshold, who is planning a move. Then the clients, most urgent first.

The client dossier

What is the client actually worth?

Four accounts valued in the client’s base currency, with the income expected over the next twelve months and the gain not yet realised. Cash that isn’t reported is said, not assumed.

Currency, looked through

Which currency is the money really in?

A Swedish client’s account, valued in kronor. Looking through the funds to their issuer’s breakdown, each source named and dated, 47.1% is in US dollars and only 40.8% in kronor.

Performance

How has it really done?

Time- and money-weighted returns combined across accounts, never an average of them, against a US-listed ETF benchmark with the withholding drag stated.

Cross-border brief

What could cost my client money?

Ten matters for a Canadian resident, the four that need attention first: US-situs holdings over the USD 60,000 estate threshold, 60% in US-domiciled funds, 89% outside the base currency and C$221 a year of US tax lost by account.

European withholding

What can be claimed back?

Each holding’s withholding at the source country’s rate against the treaty rate, with the route and the last day to claim. Here €271 a year may be reclaimable.

Scenarios

Should we switch this fund?

Replacing US funds with Irish ones starts with the bill: C$6,087 of tax on the one taxable sale and C$46 of dealing. The RRSP, TFSA and IRA sell without tax, and each is shown apart.

Planned move

What changes if they move?

Canada at the client’s 53.53% against the UK higher rate of 35.75%, both set by the adviser: the same holdings keep about C$1,007 more in dividends a year.

Due across the firm

What is due before year end?

The clients needing attention and the withholding reclaims closing within six months, from every client’s checks on one page.

Try it on a sample firm

Cross-Border desk: every client screened, matters needing attention, the US estate threshold, planned moves, and clients ranked most urgent first
Client dossier: consolidated value in the client's base currency, accounts, expected income and unrealised gain
Holdings of a Swedish client in SEK: value, gain and income, allocation by underlying currency looking through funds, and by fund domicile
Performance across accounts: time- and money-weighted returns, total gain, fees paid and value over time
Cross-border brief: the client's matters ranked, with each figure and its chapter
Withholding on European dividends: withheld, treaty cost and what may be reclaimable, per holding with the route and the last day to claim
Scenario: the cost of switching — taxable gain, capital gains tax, dealing and payback, per holding with sheltered accounts shown apart
Relocation: Canada against the United Kingdom at the client's own rates, and the change in dividends kept on the same holdings
Overview: clients needing attention and the withholding reclaims closing within six months
Screens from the read-only demo workspace: fictional clients, real prices and exchange rates.Two-factor sign-in, organisation isolation and an audit trail are part of the workspace — see Security.

Who it is for

The same path, shaped by the review you are asked for.

Statements in, findings with their sources, a review under your firm’s name: what changes is the question the client brings.

Cross-border advisers

A US citizen in Amsterdam, a family moving within Europe, or a client in Zurich with shares across the continent.

  • Withholding by Germany, France, Switzerland, the Netherlands, Spain and Italy for residents of the EU, the UK, Switzerland and Norway, with the refund route and the last day to claim
  • For US persons: funds domiciled outside the US screened as likely PFICs, and the FBAR and Form 8938 thresholds
  • Before a move: dividends kept at today’s residence against the new one, and the share of the portfolio in the currency the client will spend

What is checked for EuropeRelocation planningDemo: a European client

Advice-only and DIY portfolio reviewers

A fixed-fee review of a DIY ETF portfolio at DEGIRO, Trading 212, Trade Republic or IBKR.

  • Statements through a secure upload link; DEGIRO, Trading 212, Trade Republic, Saxo, Swissquote, Avanza and IBKR exports read directly, other statements extracted and checked before anything is confirmed
  • Currency looked through: catalogued funds split by their issuer’s breakdown, each source dated; what cannot be looked through is shown as not modelled
  • Returns combined across accounts, time- and money-weighted; fees as money over 1, 5 and 10 years, with no growth assumed

Portfolio review softwareImporting statementsDemo: a European client

Investment-led boutique firms

A prospect’s existing portfolio, reviewed before any assets move.

  • An objective second opinion: a review can say the portfolio is in order
  • US-domiciled ETFs against their Irish UCITS counterparts: dividends kept after the residence’s own tax, net of fund fees
  • A proposal that buys a US-domiciled fund for an EU or EEA resident is flagged: retail clients are generally not sold one without a PRIIPs key information document

Second-opinion reviewsWhat a review containsOpen the Europe demo

National wrappers are set per account, each at its own sourced rates: PEA and assurance-vie, PRSA, ISK with its yearly tax on the account value, ASK, aktiesparekonto, osakesäästötili, pillar 3a, PIR, PPR, Riester and Basisrente, lijfrente, plan de pensiones, IKE and IKZE. How tax wrappers work.

The sample report

What you put in front of the client.

Each review goes out under your firm's name, with your commentary set apart from Borderfolio's analysis, and never changes after you send it. Every figure states its source and the assumption it rests on; what is not calculated is labelled, not estimated.

  1. Executive portfolio summary1
  2. Portfolio allocation2
  3. Holdings overview3
  4. Performance summary4
  5. Dividends and fees5
  6. Currency and fund-domicile exposure6
  7. Cross-border considerations7
  8. Adviser notes8
  9. Sources, assumptions and limitations9

Illustrative pages; figures are examples.

Pages of a generated report for a fictional client resident in France, at real prices, are in the Europe brochure (PDF). Each other country’s site has its own brochure: choose a country.

Security and trust

Your clients’ statements, kept private and under your control.

Advisers upload statements that are not their own, and the workspace is built around that. This describes the product as built, not a certification.

Read the full description
Workspace isolation
Every request is authorised against the adviser’s organisation; an identifier that belongs to another firm reads as not found.
Access controls
Owners manage settings, members and deletions; advisers work with clients, imports and reports. Enforced on the server.
Two-factor authentication
One-time codes with single-use recovery codes. A firm can require it for every member.
Document handling
Files are checked against their declared type. Original statements are purged after seven days; there are no public document links.
Audit history
Imports, confirmations, downloads, reports and membership changes are recorded with the acting adviser.

Plans and pricing

One price per firm, stated in full.

Every plan includes the whole workspace: statement import and review, consolidation, cross-border findings, relocation planning, scenarios and PDF reviews. Plans differ in how many advisers, clients and imports they carry, and in how reports are branded. Firms beyond these limits can ask for a quote.

Founding programme, first 25 firms

Founding Adviser

$99a month

30-day trial without a card. Held for your first 12 monthly payments, or your first year at $999, then the Advisor rate.

Annual billing
$999 a year
Advisers
1
Active clients
50
Extra clients
+25 for $29 a month
Statement imports a month
30
Report branding
Firm name
Shared workspace
Start a 30-day trial

For one adviser

Advisor

$149a month

The full workspace for an independent adviser. Annual billing costs ten monthly payments.

Annual billing
$1,490 a year
Advisers
1
Active clients
50
Extra clients
+25 for $29 a month
Statement imports a month
30
Report branding
Firm name
Shared workspace
Choose Advisor

For a small team

Practice

$299a month

Shared clients and branded reports for up to three advisers. Annual billing costs ten monthly payments.

Annual billing
$2,990 a year
Advisers
3
Active clients
150
Extra clients
+25 for $29 a month
Statement imports a month
100
Report branding
Firm name, logo and contact block
Shared workspace
Owner and adviser roles, shared clients
Choose Practice

For a firm with its own platform

White Label

$499a month

The workspace on your own domain under your brand, without Borderfolio attribution.

Annual billing
$4,999 a year
Advisers
25
Active clients
500
Extra clients
On request
Statement imports a month
1,000
Report branding
Your brand only, on your own domain
Shared workspace
Owner and adviser roles, shared clients
Choose White Label

More clients than your plan carries

Need more clients? Add 25 for $29 a month ($290 a year on annual billing), on the Founding Adviser, Advisor and Practice plans. How packs work.

Start with a plan

Larger firms and specific terms

More than 25 advisers or 500 active clients, more extra clients than the packs above, annual invoicing, or contract and data-processing terms of your own: tell us what your firm needs and we reply personally with a quote within two working days.

Request a quote

The 30-day trial, without a card, comes with the Founding Adviser plan only. Advisor, Practice and White Label start with the first payment: you create the workspace, then pay for the plan in it. Archived clients do not count towards the active-client limit; extra-client packs add 25 places each for $29 a month. Prices are in US dollars and exclude VAT where it applies. Billing is per firm through Freemius, the merchant of record; cancel at any time, and the first payment is refundable within 14 days (billing and refund policy).

Questions European advisers ask

Plain answers.

Which countries’ withholding does it cover?

Dividends from companies in Germany, France, Switzerland, the Netherlands, Spain and Italy, on directly held shares, for clients resident in the EU, the United Kingdom, Switzerland or Norway. Each holding is shown at the source country’s rate for a non-resident individual (Germany 26.375%, France 12.8%, Switzerland 35%, the Netherlands 15%, Spain 19%, Italy 26%) and at the treaty rate, the final cost once relief is obtained; the difference is what may be reclaimable, an estimate that depends on the broker and the paperwork. Every country pair cites the source country’s own table or the treaty text, and a pair without a source is left out, never guessed. Withholding inside funds and source countries outside these six are not modelled.

How are the reclaim deadlines worked out?

From each source country’s own law: Germany, four years from the end of the year the dividend was received; Switzerland, three years after the end of the year it fell due, after which the claim lapses; France, 31 December of the second year after the tax was paid over; the Netherlands, three years after the end of the year for a treaty claim; Spain, four years from the end of the payer’s declaration period; Italy, 48 months from the day the tax was withheld. Each holding shows the last day to claim this year’s dividends and the refund route, and the firm’s overview lists the dividends your clients received whose claim closes within six months. A longer period set by a treaty is not checked pair by pair: the statutory, earlier date is shown.

Which national accounts does it understand?

PEA and assurance-vie (France), PRSA (Ireland), ISK (Sweden), ASK (Norway), aktiesparekonto (Denmark), osakesäästötili (Finland), pillar 3a (Switzerland), PIR (Italy), PPR (Portugal), Riester and Basisrente (Germany), lijfrenterekening and lijfrentebeleggingsrecht (the Netherlands), plan de pensiones (Spain), IKE and IKZE (Poland), and the UK’s ISA and SIPP. Each is set per account and taxed at its own rates, every rate citing a primary source; the Swedish ISK’s yearly tax is estimated on today’s value. A firm can also define its own presets. Tax on withdrawal is not modelled, and a wrapper does not stop foreign withholding.

Can it read DEGIRO, Trading 212 and Trade Republic exports?

Yes: exports from DEGIRO, Trading 212, Trade Republic, Saxo, Swissquote, Avanza, XTB, Revolut, eToro and Interactive Brokers are read directly, and an Interactive Brokers or Freedom24 account can also be synced daily. Other brokers’ and banks’ statements go through the extraction model. Either way every position and transaction is shown for review, and nothing reaches the client’s holdings until you confirm it. A client can send statements through a secure upload link without opening an account.

What about clients who are US persons living in Europe?

For a US citizen or US tax resident, funds domiciled outside the US, such as UCITS ETFs, are screened as likely PFICs, generally reported on Form 8621 every year, and accounts held abroad are checked against the FBAR and Form 8938 thresholds. The screens built for non-US investors, such as the W-8BEN and the non-resident estate threshold, are left out for them, and one finding says why. US returns are not prepared and the PFIC tax itself is not computed.

How do the trial and extra-client packs work?

The Founding Adviser plan comes with a 30-day trial and no card: open a workspace yourself, and pay 99 USD a month when the trial ends. That price is open to the first 25 firms and held for their first 12 monthly payments, or for the first year on annual billing at 999 USD. Advisor, Practice and White Label have no trial and start with the first payment. Or tell us about your firm using the form below and we reply personally within two working days to help set it up.

Add active clients in packs of 25 for $29 a month each, on the Founding Adviser, Advisor and Practice plans. Add them from Settings, Plan and usage, once your plan is active: each pack is its own small subscription at exactly $29 a month ($290 a year on annual billing), so a second pack costs the same as the first. Cancel a pack at any time, and cancelling your plan stops its packs too; clients above the new limit stay readable, but no further client can be added or restored until you are within it. Packs stop counting if the subscription lapses. Households do not use extra places: each person is one client, and trusts, SMSFs and joint accounts are accounts of a member.

Review a portfolio together

A more considered way to review client portfolios.

Bring one client or prospect and we will work through the review with you: importing their statements, reading the findings and preparing the report. We set up a small number of firms personally.

Steffan Kharmaaiarvi, founder of Borderfolio

You work with the founder. Steffan Kharmaaiarvi sets up each early firm personally and works through the first client review with you. About · LinkedIn

Prefer to start on your own? Open a workspace with the Founding Adviser 30-day trial, no card needed; plans and prices are listed above.

Clients you advise
We read every request personally.

Bring a clearer perspective to every client portfolio.

Discover a more thoughtful approach to portfolio reviews and international investment analysis.

Start a 30-day free trial Review a portfolio together