Estate planning at Lightspeed

Wedbush Securities Inc., in most cases. Lightspeed is an introducing broker: per its FY2025 SEC filing it does business on a fully disclosed basis with two clearing brokers, Wedbush Securities Inc. and Interactive Brokers, and the clearing and custodial operations for customer accounts are performed by those clearing brokers. Wedbush Capital is also the majority owner of Lightspeed's parent, Lightspeed Holdings, LLC. Every estate-facing document reflects this: the TOD form is addressed to "Clearing Agent - Wedbush Securities Inc.", the account transfer form is a Wedbush form (clearing number 0103), and cash wires are payable to Wedbush Securities in Pasadena, California. Practically, an executor starts at the Lightspeed service desk (1-888-577-3123), but the documentation has to satisfy the clearing broker as well, so build in a second review cycle. One upside of the arrangement: Wedbush carries excess SIPC coverage of up to $25,500,000 per Lightspeed account, and that coverage follows the account through estate settlement.