LPL Information
Transition
Period
The transition period, beginning February 22nd, is a phase where your assets are moved to the new platform. While we expect it to be faster, some account types can take up to 180 days.
Client
Contact
We may reach out to you for assistance with completing necessary forms to ensure a smooth transition.
Account
Access
Starting February 23rd, you may experience temporary visibility issues with some accounts in the website portal. At any time, our financial advisors will still have full access to service your accounts.
What This Means For You
Unchanged advisor relationship
You will continue to work with your current advisor and will have access to an enhanced platform for viewing your investment online.
Check the background of investment professionals associated with this site on FINRA’s BrokerCheck.
Consistent investment strategies
For most Clients, existing strategies and allocations will remain the same. If your account will require extra steps, your advisor will contact you to discuss options.
FAQs
4Who should I contact if I need assistance with my investments during this transition?
For any questions or questions, please continue to contact your financial advisor.
•Who should I contact if I have questions or concerns during this transition?
Your advisor is your primary contact for any questions or concerns you may have during this transition. You may also contact our home office at (800)434-1776.
•Will I be able to access my investment accounts online?
Yes, you will be able to continue to access your investment accounts online through the LPL . You will need to sign up for LPL – Account View and/or download the app.
•Will I be able to electronically sign the paperwork required to make this change?
Yes. In most cases, electronic tools will be utilized for completing account transfer paperwork. If this is not an option for you, we will arrange for you to sign the necessary forms via wet signature.
•Will I need to sign paperwork if I only have an annuity or single investments?
Additional signatures may be needed depending on the registration type of your account. Normally any trust or business account will need additional signatures. Other forms may be requested by your advisor. We will reach out to help you through the process.
•How much paperwork will I need to sign?
The amount of paperwork required will depend on your specific account and the number of accounts you hold. Your advisor and our client service team will provide details and the next steps.
•Will I receive a large packet of disclosures and prospectuses?
You will receive new account paperwork along with the necessary disclosures and prospectuses. Some disclosures may be mailed until your request for paperless communication is processed.
•Will my advisor change?
Clients will continue working with their current financial advisor to facilitate a smooth transition. In the event of a change, you will be notified directly.
•Why is BestVest Investments, Ltd transitioning to LPL Financial?
BestVest is transitioning to LPL Financial to enhance investment and wealth management services for our clients. We chose LPL Financial based on the following considerations:
o Top Independent Broker/Dealer: LPL is the leading independent broker/dealer* in the United States.
o Enhanced Relationships: The alignment with LPL allows BestVest to maintain high-touch relationships for better service delivery.
o Comprehensive Financial Services: Your BestVest Financial Advisors will continue to offer a full range of financial instruments including stocks, bonds, mutual funds, annuities, insurance, robust technology, and independent investment research.
o Investment in Technology: LPL allocated $450 million annual budget to technology advancements.
*As reported by Financial Planning magazine, 1996-2024, based on total revenue.
•Why is BestVest changing its broker/dealer relationship from it’s own BD to LPL Financial?
After careful evaluation of various factors including Client service, technology systems, compliance and the potential for enhanced collaboration, BestVest decided to withdraw it’s own BD registration and selected LPL Financial as its BD affiliation. This decision was based on LPL’s ability to provide a broad range of investment products and services on a streamlined platform.
•Will my fees increase because of this change?
For most brokerage relationships, the fee structures will be similar. For most advisory accounts, the fee schedules will stay the same. Your advisor will provide specific information on any applicable fees as the transition date approaches.
•Will I continue to receive my monthly distributions?
Yes. Your advisor will ensure that your existing distribution strategies are maintained on the new LPL platform. For accounts requiring annual Required Minimum Distributions (RMDs), new instructions will be established to continue distribution as needed.
For many brokerage relationships directly with a mutual fund or annuity company, the impact is minimal. The primary change is the broker/dealer of record, transitioning from BestVest Investments, Ltd., to LPL Financial, which is mainly an operational adjustment. As a result, your investment statements will remain similar to their current format.
•Will my investments remain the same?
Yes. For most Clients, the investments, asset allocation models, and money managers will remain unchanged. If an investment or account cannot be transferred, your advisor will discuss alternative options with you.
•Will I still get my statements on a monthly/quarterly basis?
Yes. You can choose to receive statements via email or electronically through the LPL client portal after the transition.
•Will I need to choose different investments because of this change?
In most instances, your investments, allocations, and models will remain the same. If changes are necessary, your advisor will discuss suitable alternatives with you.
Questions?
If you have additional questions for your wealth management team, please send us a message or call (800) 434-1776.
Thank you for trusting us for your investment needs.