What to do when a Mercer Advisors account holder dies
Report the death to Mercer Advisors at 1-888-920-1320
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 (1-888-920-1320) to access and distribute the funds.
Death claim process
To file a claim after an account holder's death, here is what Mercer Advisors requires:
Filing a claim
- Custodians named in the Form 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)
- Private funds and alternative investments: the fund's administrator, under the subscription agreement's transfer provisions
- Brokerage, managed, and IRA accounts: the custodian named on the statement (Charles Schwab, Fidelity, Raymond James, or Goldman Sachs Custody Solutions)
- Trust-titled accounts: often National Advisors Trust Company (NATC), the custodian Mercer recommends for trust-related assets
- Life insurance and annuities: the issuing carrier, for policies placed through Mercer Advisors Insurance Services (MAIS)
- Private funds and alternative investments: the fund's administrator, under the subscription agreement's transfer provisions
- The decedent's full legal name and date of death
- Your name, your role (surviving joint owner, named beneficiary, successor trustee, executor, or administrator), and your contact details
- Whether an estate has been opened and whether Letters have been issued
Required Documents
- Certified copies of the death certificate, one for each custodian, carrier, and fundEach custodian and carrier keeps one.
- Government-issued photo ID, for the claimant, successor trustee, or personal representative
- Letters Testamentary or Letters of Administration, for an account with no beneficiary, no TOD, and no surviving joint owner
- Certification of trust and successor trustee ID, for trust-titled accounts
- The custodian's beneficiary-claim or estate-transfer formFrom Schwab, Fidelity, Raymond James, Goldman Sachs Custody Solutions, or NATC, whichever holds the account.
- 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
What happens to each kind of account5
- Investment account
Mercer Advisors is an advisor, not the holder of the assets. Its Form ADV states that in no event do its duties include authority with which it could unilaterally possess or dispose of funds or securities, so the claim is filed with the custodian named on the statement.1
The custodian sends a written summary account statement directly to the client at least quarterly, so the custodian's statement can be found in the decedent's mail even without a Mercer report.1
Where the statement cannot be found, Mercer's Form ADV Part 1 reports that only Charles Schwab and Fidelity Brokerage Services hold ten percent or more of its separately managed account assets.2
- IRA
An IRA is claimed from the custodian named on the statement, not from Mercer Advisors.3
- Trust account
A trust-titled account is often held at National Advisors Trust Company (NATC), the custodian Mercer recommends for trust-related assets, and is claimed there.3
- Life insurance policy
A policy placed through Mercer Advisors Insurance Services (MAIS), the agency affiliate, is claimed from the issuing carrier, not from Mercer Advisors.3
- Annuity
An annuity placed through Mercer Advisors Insurance Services (MAIS), the agency affiliate, is claimed from the issuing carrier, not from Mercer Advisors.3
Accounts handled elsewhere5
- Charles Schwab & Co., Inc.
Custody of Mercer client accounts held there; the claim is filed with it1
- Fidelity Brokerage Services LLC
Custody of Mercer client accounts held there; the claim is filed with it1
- Raymond James & Associates Inc.
Custody of Mercer client accounts held there; the claim is filed with it1
- Goldman Sachs Custody Solutions (Folio Investments, Inc. DBA GSCS)
Custody of Mercer client accounts held there; the claim is filed with it1
- National Advisors Trust Company (NATC)
Custody of trust-related assets of Mercer clients; the claim is filed with it1
What Mercer Advisors provides to the estate2
Help Mercer Advisors offers survivors1
- Estate Administration Services Agreement (NATC)
NATC can provide estate administration, with Mercer Advisors as its delegee. Mercer's duties are limited to inventorying the decedent's property, obtaining the death certificate, helping secure the safe deposit box, gathering heirs' names, addresses and Social Security numbers, and obtaining deeds and title documents.1
What Mercer Advisors's agreement and guidance say1
- Fees
Advisory fees are calculated and charged monthly in arrears on the average daily balance, and an account terminated during a month is assessed a prorated fee. On termination, prepaid, unearned fees are refunded promptly, and earned but unpaid fees are due and payable.1
Where NATC administers an estate, probate fees are shared between NATC and Mercer Advisors, which Mercer discloses gives it a financial interest in recommending NATC. The brochure states the split as "on a case-by-case basis" in Item 10 and "divided equally" in Item 14.1
Not in Mercer Advisors's published guidance1
- A claim form
Sources3
- 1.Form ADV Part 2A brochure, dated March 30, 2026
- 2.Form ADV Part 1
- 3.Contact Us
Mercer Advisors can be reached by phone at 1-888-920-1320 for questions throughout the claims process.
Sources
- merceradvisors.com
- reports.adviserinfo.sec.gov
- adviserinfo.sec.gov
- files.adviserinfo.sec.gov
- portal.merceradvisors.com
Data sourced from Mercer Advisors primary sources (15 pages reviewed). How we research.
Mercer Advisors death claims support
Estate planning articles
Learn how to protect your Mercer Advisors accounts and other assets with trusts, beneficiary designations, and estate planning documents.
Is this your situation?
Get a complete guide for your specific circumstances.
Forms for Settling an Estate
Free forms for settling an estate: the probate petition, small estate affidavit, notice to creditors, inventory, and closing forms.
Digital Assets Recovery Letter
Prepare a letter requesting a deceased person's online accounts, points, and balances from the program that holds them.
Petition for Probate and Letters
Open probate and ask the court to appoint you and issue Letters Testamentary or Letters of Administration.
Notice to Creditors
Notify estate creditors and start the claim period — the published notice plus mailed copies for known creditors.
Renunciation of Executor
Decline an appointment as executor named in a will — the writing filed with the court before anyone is appointed.
Affidavit of Heirship
Prepare the sworn statement of a deceased person's family history and heirs for recording in the county land records, with your state's recording instructions.
Small Estate Affidavit
Collect a small estate's property without probate — the sworn affidavit presented to banks and other holders, with a presentation letter for each.
Tools for Settling an Estate
Free tools for settling an estate: whether probate is needed, executor and trustee pay, creditor deadlines, and inheritance taxes.
How Many Death Certificates Do I Need?
Calculate how many certified death certificates you need and see ordering info for your state.
Do I Need Probate?
Find out if an estate needs probate or qualifies for simplified procedures.
Do I Have to File Tax Returns for Someone Who Died?
Find out which tax returns need to be filed after someone dies and whether tax clearance is required.
How Do I Settle an Estate?
Personalized plan for settling an estate after someone passes away.
What Do I Do When Someone Dies?
A step-by-step checklist for the days, weeks, and months after a death, with state rules noted where they apply.
How Much Are Estate & Inheritance Taxes?
Calculate federal estate tax, state estate tax, and inheritance tax for an estate.
