The Importance of ETFs for Taxpayers

I was like, holy cow, if you're going to manage money in the future and it's taxable, you need to do it through an ETF or you're just wasting money. And so we immediately pivoted to setting up anETF company. We transition our SMA, our managed accounts, the 50 million, the managed accounts. And we had a few other clients at that time as well. So yes. It took about a couple of years,. Can I just ask you a quick question about that? Sure. When you mentioned this thing about that you don't have to do this and the reinvested capital gains is that particular to Americans or do I not am I missing some?