What to do when a Avantax account holder dies
Contact Avantax's Estate Services (via your Avantax advisor) — 5-step process, 10 required documents, and 2-4 weeks once all documents received in good order; complex estates may take longer
Brand change
Cetera Holdings completed its acquisition of Avantax on November 27, 2023. Cetera retained the Avantax brand, legal entities (Avantax Investment Services, Inc. and Avantax Planning Partners, Inc.), core technology, product lineup, and clearing/custody relationships. Avantax now operates as "Avantax by Cetera," a distinct community within Cetera Wealth Services, LLC. Existing account numbers, statements, and the AdviceWorks client portal continue unchanged; account servicing, beneficiary changes, and death claims run through the assigned Avantax financial professional and the applicable clearing firm. Effective November 2023.
The procedures below reflect Avantax's accounts. Account servicing may transfer as the change takes effect.
Cetera Wealth Services Client Support
3200 Olympus Blvd., Suite 100, Dallas, TX 75019
Estate Services (via your Avantax advisor)
3200 Olympus Blvd., Suite 100, Dallas, TX 75019
Death Claims (via your Avantax advisor or Cetera Wealth Services)
3200 Olympus Blvd., Suite 100, Dallas, TX 75019
What happens to Avantax investment accounts after the account holder dies depends on how each account was titled. Beneficiary-designated and trust-owned accounts transfer directly. Accounts in the deceased's name alone go through the estate, and the executor or administrator works with Avantax's Death Claims (via your Avantax advisor or Cetera Wealth Services) (888-406-5444) to claim the funds.
Death claims at Avantax can be started through an online portal, which streamlines the initial notification and document upload. Phone and mail options are also available.
Death claim process
Here is the step-by-step death claim process at Avantax:
Filing a claim
- Certified copy of the death certificate
- Completed claim form (provided by your advisor or the clearing firm)
- Government-issued ID for the claimant/beneficiary
- Letters Testamentary or Letters of Administration (if estate is the beneficiary)
- Trust documentation (if a trust is the beneficiary)
- Inherited account application for beneficiaries receiving assets
- Clearing firm (Pershing or National Financial Services) reviews documents for completeness
- Securities generally transfer in kind into a new account titled to the beneficiary, estate, or trust; a beneficiary may instead elect to liquidate positions to cash before distribution
- Inherited (beneficiary) IRA accounts are opened for eligible retirement-account beneficiaries so the tax-deferred wrapper is preserved and SECURE Act distribution rules apply
- Tax reporting documents (1099) issued for the year of distribution
Required Documents
- Certified copy of the death certificate (original or certified copy; obtain multiple copies)
- Death claim / estate settlement form
- Government-issued photo ID for claimant
- Letters Testamentary or Letters of Administration (if estate is beneficiary or no named beneficiary exists)
- Trust agreement or Certificate of Trust (if trust is named beneficiary)
- Inherited account application for beneficiaries
- IRS Form W-9 for each beneficiary
- Medallion Signature Guarantee on the transfer/distribution paperwork (required by the clearing firm; a notary is not a substitute)
- State estate or inheritance tax waiver (if required by the decedent's state)
- Small estate affidavit (for accounts below state threshold, if applicable)
Claims Contact
What to know at this institution
Start with the assigned Avantax financial professional — as the office that knows the household's accounts, they identify every account, freeze activity, obtain the clearing firm's claim/transfer forms, and submit paperwork on the survivor's behalf. If the advisor is unknown, Cetera Wealth Services client support at 888-406-5444 can locate the servicing office. Avantax accounts are held at Pershing (BNY) or National Financial Services (Fidelity), so the actual death-claim processing, Medallion Signature Guarantee requirement, and re-registration are handled by the applicable clearing firm; assets move in kind into a beneficiary/estate/trust-titled account (or are liquidated to cash if the beneficiary elects). Retirement accounts are re-registered as inherited (beneficiary) IRAs rather than distributed outright, and tax withholding may apply on any cash distribution. For annuity and life insurance claims, contact the issuing insurance carrier directly, as those claims follow the carrier's process, not Avantax's.
Prepare your letter of instruction to Avantax
Avantax asks for a letter of instruction alongside its claim form. We prepare a transmittal cover letter and the enclosure checklist Avantax requires.
Build your letter of instructionHow long the process takes at Avantax: 2-4 weeks once all documents received in good order; complex estates may take longer. The most common reason for delays is missing or incomplete documentation, so submitting everything upfront is the best way to keep things moving.
Avantax requires several documents to process a claim, including Certified copy of the death certificate (original or certified copy; obtain multiple copies), Death claim / estate settlement form, and Government-issued photo ID for claimant, and additional documentation depending on the account type. Certified copies are typically needed—photocopies are generally not accepted for death certificates or court documents.
Frequently asked questions
Contact your Avantax financial advisor to request the appropriate beneficiary designation form. For brokerage and advisory accounts, complete a Transfer on Death (TOD) Beneficiary Designation Form. For IRA accounts, complete an IRA Beneficiary Designation Form. Forms must be submitted in writing through your advisor or by mail; beneficiary changes cannot be made by phone or through the AdviceWorks portal at clientportal.avantax.com.
Avantax accounts are custodied at Pershing, a BNY company, or National Financial Services (NFS), a Fidelity Investments company. These clearing firms hold your assets, execute trades, and generate account statements. Your Avantax advisor manages the relationship and provides investment guidance, while the clearing firm safeguards the assets and processes beneficiary and death-claim paperwork.
Contact the deceased's Avantax financial professional first — they know the household's accounts, freeze activity, and provide the clearing firm's claim forms. If the advisor is unknown, call Cetera Wealth Services at 888-406-5444. You will need a certified copy of the death certificate, government-issued ID for the beneficiary, and, if applicable, trust documents or Letters Testamentary. Because the assets sit at the clearing firm (Pershing or NFS), the transfer/distribution forms typically require a Medallion Signature Guarantee (from a bank or brokerage, not a notary). Securities usually transfer in kind into a beneficiary-, estate-, or trust-titled account, or can be liquidated to cash on election. Processing typically takes 2-4 weeks after all documents are received in good order.
Avantax's Death Claims (via your Avantax advisor or Cetera Wealth Services) can be reached by phone at 888-406-5444 for questions throughout the claims process.
When the deceased had multiple Avantax investment accounts, some may need separate claims while others can be handled together. The Death Claims (via your Avantax advisor or Cetera Wealth Services) can clarify what's needed for each account type.
Sources
Data sourced from Avantax primary sources (17 pages reviewed). How we research.
Cetera Wealth Services Client Support
3200 Olympus Blvd., Suite 100, Dallas, TX 75019
Estate Services (via your Avantax advisor)
3200 Olympus Blvd., Suite 100, Dallas, TX 75019
Death Claims (via your Avantax advisor or Cetera Wealth Services)
3200 Olympus Blvd., Suite 100, Dallas, TX 75019
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