What to do when a Mercer Advisors account holder dies
Contact Mercer Advisors's Estate Planning / Wealth Strategy (documents prepared through the law firm Advanced Services Law Group, Inc.) — 5-step process, 8 required documents, and set by the custodian and the carrier, not by mercer advisors -- a beneficiary-designated or tod-registered account at a major custodian typically settles in weeks once certified documents are in good order, while an account that has to wait on letters testamentary waits on the probate court. two things stall a mercer estate specifically: private-fund and alternative-investment positions, which transfer only under the fund's subscription and transfer provisions and generally need the general partner's consent, and accounts spread across several custodians, each of which needs its own certified death certificate and its own claim form.
Mercer Advisors (main line)
Mercer Global Advisors Inc., 1200 17th Street, Suite 2000, Denver, CO 80202
Estate Planning / Wealth Strategy (documents prepared through the law firm Advanced Services Law Group, Inc.)
Mercer Global Advisors Inc., 1200 17th Street, Suite 2000, Denver, CO 80202
No Mercer Advisors claims department. Mercer holds no assets: the death claim is filed with the account custodian (Schwab, Fidelity, Raymond James, Goldman Sachs Custody Solutions, or National Advisors Trust Company for trust assets) or with the issuing insurance carrier. The advisory team coordinates.
When an account holder at Mercer Advisors passes away, the next step depends on how the investment accounts were set up. Accounts with beneficiary designations or trust ownership transfer outside of probate. Accounts titled solely in the deceased's name require the estate's legal representative to work with Mercer Advisors's No Mercer Advisors claims department. Mercer holds no assets: the death claim is filed with the account custodian (Schwab, Fidelity, Raymond James, Goldman Sachs Custody Solutions, or National Advisors Trust Company for trust assets) or with the issuing insurance carrier. The advisory team coordinates. (888.920.1320) to access and distribute the funds.
Mercer Advisors provides an online portal for initiating death claims, which can simplify the initial notification and document submission process. Claims can also be started by phone.
Death claim process
To file a claim after an account holder's death, here is what Mercer Advisors requires:
Filing a claim
- Custodians per the ADV: Charles Schwab & Co., Fidelity, Raymond James, Goldman Sachs Custody Solutions, and National Advisors Trust Company (NATC) for trust-related assets
- Insurance and annuity death benefits: the issuing carrier (policies are placed through the MAIS agency affiliate)
- Certified copies of the death certificate (order several; each custodian and carrier keeps one)
- Government-issued photo ID for the claimant, successor trustee, or personal representative
- Letters Testamentary or Letters of Administration, where the account has no beneficiary, no TOD, and no surviving joint owner and must go through probate
- Certification of trust plus successor trustee ID, for trust-titled accounts
- The custodian's or carrier's own beneficiary-claim / estate-transfer form
- A state inheritance-tax waiver, in the states that still require one before a transfer agent or custodian will release securities
Required Documents
- Certified copies of the death certificate (one for each custodian, carrier, and fund)
- Government-issued photo ID for the claimant, successor trustee, or personal representative
- Letters Testamentary or Letters of Administration (accounts with no beneficiary, no TOD, and no surviving joint owner)
- Certification of trust and successor trustee ID (trust-titled accounts)
- The custodian's beneficiary-claim or estate-transfer form (Schwab, Fidelity, Raymond James, Goldman Sachs Custody Solutions, or NATC) -- Mercer Advisors publishes none of its own
- The insurance carrier's death claim form, for policies and annuities placed through Mercer Advisors Insurance Services (MAIS)
- State inheritance-tax waiver, where the state requires one before securities are released
- The fund's transfer paperwork for any private-fund or alternative-investment position
Claims Contact
What to know at this institution
Mercer Advisors is an advisor, not a holder of assets, and that single fact reorganizes the whole death claim. There is no Mercer claims department, no Mercer claim form, and no Mercer claims mailing address: the claim is filed with the custodian named on the statement (per the Form ADV: Charles Schwab & Co., Fidelity, Raymond James, Goldman Sachs Custody Solutions, and National Advisors Trust Company for trust-related assets) or with the insurance carrier for a policy or annuity placed through the MAIS agency affiliate. The ADV states plainly that in no event do Mercer's duties include authority with which it could unilaterally possess or dispose of funds or securities. What Mercer does provide is coordination -- the advisory team can produce the account list, the custodian for each account, and the date-of-death values an estate inventory and any step-up in basis are built on. Beyond coordination, Mercer has an Estate Administration Services Agreement with National Advisors Holdings, Inc. and National Advisors Trust Company (together, "NATC"). Where NATC provides estate administration, Mercer Advisors is designated NATC's delegee by probate court order, the governing document, or a collateral agreement acceptable to NATC, and its delegated duties are specifically limited to: identifying and inventorying the decedent's real and personal property; obtaining the death certificate; assisting in securing the decedent's safe deposit box; obtaining the names, addresses, and Social Security numbers of all heirs and interested parties; and obtaining the deeds and title documents on all real assets. Mercer discloses a conflict of interest here that an executor should hear before agreeing to anything: probate fees are divided between NATC and Mercer Advisors on a case-by-case basis, which gives Mercer a financial interest in recommending NATC. Finally, on the advisory relationship itself: fees are billed monthly in arrears on the average daily balance, and on termination the ADV commits to refunding prepaid, unearned fees promptly, with earned but unpaid fees due and payable. Consult a licensed attorney for legal questions about administering the estate.
How long the process takes at Mercer Advisors: Set by the custodian and the carrier, not by Mercer Advisors -- a beneficiary-designated or TOD-registered account at a major custodian typically settles in weeks once certified documents are in good order, while an account that has to wait on Letters Testamentary waits on the probate court. Two things stall a Mercer estate specifically: private-fund and alternative-investment positions, which transfer only under the fund's subscription and transfer provisions and generally need the general partner's consent, and accounts spread across several custodians, each of which needs its own certified death certificate and its own claim form. The most common reason for delays is missing or incomplete documentation, so submitting everything upfront is the best way to keep things moving.
Documentation required by Mercer Advisors includes Certified copies of the death certificate (one for each custodian, carrier, and fund), Government-issued photo ID for the claimant, successor trustee, or personal representative, and Letters Testamentary or Letters of Administration (accounts with no beneficiary, no TOD, and no surviving joint owner), along with additional paperwork that varies by account type. All death certificates and court documents must be certified copies.
Frequently asked questions
Not with Mercer Advisors. Mercer is a registered investment advisor that manages the investments but does not custody the assets, so there is no Mercer claims department, no Mercer claim form, and no Mercer claims address. Its Form ADV Part 2A names the custodians it recommends: Charles Schwab & Co., Fidelity, Raymond James, and Goldman Sachs Custody Solutions, plus National Advisors Trust Company (NATC) for trust-related assets. The custodian shown on the statement is where the claim goes, on that custodian's own beneficiary-claim or estate-transfer form, with a certified death certificate. Life insurance and annuities placed through Mercer Advisors Insurance Services (MAIS) are claimed from the issuing carrier. The ADV is explicit that in no event do Mercer's duties include authority with which it could unilaterally possess or dispose of funds or securities. What the Mercer advisory team can do -- and it is worth calling 888.920.1320 or the advisor directory first -- is tell you every account they manage, which custodian holds each one, and the date-of-death values you need for the estate inventory and for step-up in basis.
Mercer Advisors does not run a trust company and does not act as your corporate trustee. Its trustee services page states that trustee services are offered through select third parties that the client engages directly, and that additional fees can apply. Estate administration works through a specific arrangement disclosed in the Form ADV: Mercer has an Estate Administration Services Agreement with National Advisors Holdings, Inc. and National Advisors Trust Company (together, "NATC"), under which -- by probate court order, the governing document, or a collateral agreement acceptable to NATC -- Mercer is designated NATC's delegee for an estate NATC administers. Mercer's delegated duties are limited and concrete: identifying and inventorying the decedent's real and personal property, obtaining the death certificate, assisting in securing the decedent's safe deposit box, obtaining the names, addresses, and Social Security numbers of all heirs and interested parties, and obtaining deeds and title documents on real assets. In no event may Mercer unilaterally possess or dispose of funds or securities. Mercer also discloses a conflict of interest that an executor should ask about directly: probate fees are divided between NATC and Mercer Advisors on a case-by-case basis, so Mercer has a financial interest when it recommends NATC.
Mercer bills its investment management fee monthly in arrears, calculated on the average daily balance of the account. Per the Form ADV, an account initiated or terminated during a calendar month is assessed a prorated fee, and on termination of any account any prepaid, unearned fees are refunded promptly while any earned, unpaid fees are due and payable. For an executor that means two things. The fee keeps running on the decedent's managed accounts until the accounts are actually transferred or the relationship is terminated, so a claim that sits for months is a claim that is still being billed. And when you do close it out, ask for the final figure in writing -- the prorated refund or balance is part of settling the estate. Beneficiaries who want to keep the assets with Mercer sign their own new advisory agreement; the decedent's agreement does not carry over to them.
Mercer Advisors's No Mercer Advisors claims department. Mercer holds no assets: the death claim is filed with the account custodian (Schwab, Fidelity, Raymond James, Goldman Sachs Custody Solutions, or National Advisors Trust Company for trust assets) or with the issuing insurance carrier. The advisory team coordinates. can be reached by phone at 1-888-920-1320 for questions throughout the claims process.
If the deceased held multiple Mercer Advisors investment accounts, each may require a separate claim or have different documentation requirements. The No Mercer Advisors claims department. Mercer holds no assets: the death claim is filed with the account custodian (Schwab, Fidelity, Raymond James, Goldman Sachs Custody Solutions, or National Advisors Trust Company for trust assets) or with the issuing insurance carrier. The advisory team coordinates. can confirm which accounts require individual attention and which can be processed together.
Sources
Data sourced from Mercer Advisors primary sources (13 pages reviewed). How we research.
Mercer Advisors (main line)
Mercer Global Advisors Inc., 1200 17th Street, Suite 2000, Denver, CO 80202
Estate Planning / Wealth Strategy (documents prepared through the law firm Advanced Services Law Group, Inc.)
Mercer Global Advisors Inc., 1200 17th Street, Suite 2000, Denver, CO 80202
No Mercer Advisors claims department. Mercer holds no assets: the death claim is filed with the account custodian (Schwab, Fidelity, Raymond James, Goldman Sachs Custody Solutions, or National Advisors Trust Company for trust assets) or with the issuing insurance carrier. The advisory team coordinates.
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