What to do when a LPL Financial account holder dies
Contact LPL Financial's LPL Financial Investor Account Support / The Private Trust Company N.A. — 6-step process, 11 required documents, and varies; typically 2-6 weeks after all documentation is received and verified
Investor Account Support
LPL Financial, Attn: Trade Direct, P.O. Box 6565, Fort Mill, SC 29716
LPL Financial Investor Account Support / The Private Trust Company N.A.
LPL Financial, Attn: Trade Direct, P.O. Box 6565, Fort Mill, SC 29716
Investor Account Support / Trade Direct
LPL Financial, Attn: Trade Direct, P.O. Box 6565, Fort Mill, SC 29716
What happens to LPL Financial 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 LPL Financial's Investor Account Support / Trade Direct (1-800-558-7567) to claim the funds.
LPL Financial offers an online claims portal that makes the initial filing process more straightforward. Survivors can also initiate claims by phone or by mailing documentation directly.
Death claim process
Follow these steps to file a death claim with LPL Financial:
Filing a claim
- Contact the deceased's LPL-affiliated financial advisor (their practice may operate under its own brand name; the LPL name usually appears on the statement and confirmations)
- If you cannot identify the advisor, call LPL Investor Account Support at 800-558-7567 (Monday-Friday 9am-6pm ET)
- For unadvised (self-directed) Trade Direct accounts, call 855-575-9656 (Monday-Friday 8am-6pm ET)
- TOD / non-retirement beneficiaries: each beneficiary must first OPEN THEIR OWN LPL ACCOUNT (required of all beneficiaries since November 6, 2017), then the assets move by journal on the Move Money Non-Retirement To Another LPL Account form (CM204; CM204B where all remaining beneficiaries agree to an alternative distribution). LPL requires the advisor to submit this journal through its Move Money Tool — it is not accepted by fax, email, iDoc, or postal mail.
- IRA and other retirement beneficiaries: complete the Distribution Request - IRA Beneficiary Claim/Disclaim Form (CM107), one per beneficiary; the same form is used to disclaim
- Estate accounts (no TOD designation and no surviving joint owner): provide court-certified Letters Testamentary or Letters of Administration and obtain a Tax ID Number (EIN) for the estate
- Trust as beneficiary: provide a complete copy of the trust document
Required Documents
- Certified death certificate
- Government-issued ID for all claimants
- Distribution Request - IRA Beneficiary Claim/Disclaim Form (CM107) for each retirement-account beneficiary
- Move Money Non-Retirement To Another LPL Account journal (CM204, or CM204B for an alternative distribution agreed among all remaining beneficiaries) for each TOD/non-retirement beneficiary — submitted by the advisor through LPL's Move Money Tool
- A new LPL account in the beneficiary's own name (required of every beneficiary before assets can be released)
- Letters Testamentary or Letters of Administration (for estate representatives)
- Estate EIN / Tax ID Number (for estate accounts)
- Complete copy of the trust document (if trust is beneficiary)
- Affidavit of Domicile (may be required)
- Signature guarantee / Medallion stamp (appears on LPL's account transfer and outgoing transfer/gifting forms, e.g. F2 and F172, when assets leave LPL rather than journal internally)
- Tax waiver (if required by state)
What to know at this institution
The deceased's LPL-affiliated financial advisor is the first point of contact and coordinates the estate/transfer-of-account paperwork; unadvised accounts route through Investor Account Support or Trade Direct. Beneficiaries must open an LPL account to receive securities or cash from the deceased's account. If one beneficiary, all assets transfer to their account. If multiple beneficiaries, assets are divided proportionately per the designated allocations. Securities with market value of $50 or less are distributed to the first listed primary beneficiary; securities over $50 are liquidated and proceeds divided proportionately. A TOD designation on a brokerage account bypasses probate and passes directly to the named beneficiaries; accounts without a TOD or surviving joint owner pass to the estate and require Letters Testamentary or Letters of Administration. A Medallion Signature Guarantee is commonly required on beneficiary claim, estate distribution, and transfer paperwork. LPL has no obligation to locate beneficiaries or verify legality of distributions under probate or TOD laws of any state. Accounts acquired through the August 2025 Commonwealth Financial Network acquisition may still be servicing under legacy Commonwealth workflows until the platform conversion completes (expected Q4 2026); confirm the current claim process with the servicing advisor.
Prepare your letter of instruction to LPL Financial
LPL Financial asks for a letter of instruction alongside its claim form. We prepare a transmittal cover letter and the enclosure checklist LPL Financial requires.
Build your letter of instructionProcessing timelines at LPL Financial: Varies; typically 2-6 weeks after all documentation is received and verified. Incomplete documentation is the most common cause of delays—submitting all required documents with the initial claim helps avoid additional processing time.
Documentation required by LPL Financial includes Certified death certificate, Government-issued ID for all claimants, and Distribution Request - IRA Beneficiary Claim/Disclaim Form (CM107) for each retirement-account beneficiary, along with additional paperwork that varies by account type. All death certificates and court documents must be certified copies.
Frequently asked questions
Per Stirpes means if a beneficiary dies before the account holder, their share passes to their descendants. Pro Rata (the default at LPL) means if a beneficiary dies before the account holder, their interest terminates and the remaining beneficiaries' shares increase equally. You specify your preference on LPL's Transfer on Death Account Agreement (Form F75 for individual accounts, Form F76 for joint tenant accounts).
A Trusteed IRA is an IRA with built-in trust provisions administered by The Private Trust Company N.A., an LPL affiliate. It provides greater flexibility in determining how IRA assets are distributed after the owner's death compared to a standard custodial IRA, allowing the original IRA owner to dictate distribution conditions (timing, amounts, beneficiary spendthrift protections) similar to a trust without naming an outside trust as beneficiary.
Yes. At LPL Financial, every TOD beneficiary who claims inherited brokerage assets must open their own LPL account before assets can be transferred. If there is only one surviving beneficiary, all assets transfer to their new account. If there are multiple beneficiaries, assets are divided proportionately per the designated allocations. Securities with a market value of $50 or less are distributed to the first listed primary beneficiary; securities over $50 are liquidated and proceeds are divided proportionately among all beneficiaries. This account-opening requirement differs from some custodians who allow direct distribution or in-kind transfer to an outside account.
LPL Financial's Investor Account Support / Trade Direct can be reached by phone at 1-800-558-7567 and fax at (858) 202-8500 for questions throughout the claims process.
When the deceased had multiple LPL Financial investment accounts, some may need separate claims while others can be handled together. The Investor Account Support / Trade Direct can clarify what's needed for each account type.
Sources
Data sourced from LPL Financial primary sources (21 pages reviewed). How we research.
Investor Account Support
LPL Financial, Attn: Trade Direct, P.O. Box 6565, Fort Mill, SC 29716
LPL Financial Investor Account Support / The Private Trust Company N.A.
LPL Financial, Attn: Trade Direct, P.O. Box 6565, Fort Mill, SC 29716
Investor Account Support / Trade Direct
LPL Financial, Attn: Trade Direct, P.O. Box 6565, Fort Mill, SC 29716
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