What to do when an Edelman Financial account holder dies

EFE's discretionary trading authority over an account ends with the client's death and does not pass to the executor or beneficiary.¹

EFE's management of a workplace 401(k), 403(b) or 457(b) account ends on the participant's death. The managed-account fee stops, and the balance is paid under the plan's beneficiary designation on the recordkeeper's schedule.¹

Where the account had no beneficiary, no TOD registration and was not in a trust, the custodian requires Letters Testamentary or Letters of Administration before it releases anything, and the account waits on probate.¹

Custodian of most EFE client assets; Schwab Estate Services / Inheritance Center works the death claim^{2, 1}

Custodian of EFE client accounts; Fidelity's inheritance specialists work brokerage and IRA claims^{2, 1}

Workplace retirement plans that Fidelity recordkeeps¹

Custodian of some EFE client accounts; the EFE planner routes the claim^{2, 1}

Custodian for EFE clients not enrolled in the Wrap Fee Program; the EFE planner routes the claim^{2, 1}

EFE bills quarterly in arrears. Both brochures state: "If an account is terminated prior to the end of a calendar quarter, the terminating client will pay prorated fees due up to the termination date."^{2, 3}