Introducing the New Broker-Dealer and Custodian we’ve Partnered with to Serve You Better.

A little bit of extra paperwork right now. 

A lot of extra value and service to you now and into your future.

By: CHRISTOPHER T. CANNON, M.S., CFP®, RICP®, AIF®, CPFA

Beginning May 23, 2022, we have 2 new companies on our team to help you Retire Right.

Our new RetireRight Broker-Dealer is Kestra Financial. They will be the people who provide tools, technology and best practices to support our work with you.

Our new Custodian is NFS – National Financial Services, a wholly-owned subsidiary of Fidelity Investments. They are the company that will safeguard your assets and documents, and execute all securities transactions. 

Previously LPL Financial had served as our Broker-Dealer and Custodian.

Your New Account Forms DocuSign Package

Over the last few months, we have contacted and sent an email to all of our RetireRight clients, informing you about this important change. The time for this transition has finally arrived. Over the course of the next few weeks you will receive a DocuSign packet from RetireRight Financial Planning & Kestra Financial titled “New Account Forms”.  You will need to sign these documents in order for us to continue working on your accounts.  Once the documents have been signed your accounts will begin transitioning from LPL Financial over to NFS. 

If you do not receive this New Account Forms document packet by June 15, call or email us today!

Telephone: 724-942-1996

Email: Katie@RetireRightFP.com

Here are few key points to answer any immediate questions you may have.

What happens next?

  • The transition begins May 23
  • RetireRight clients will receive their New Account Forms DocuSign packet no later than June 15
  • This packet of forms provides all of the information and instructions for us to open a new account at NFS – National Financial Services on your behalf. The new account will be set up exactly like your previous accounts at LPL.
  • Once your account is set up we will make sure you have online access, if desired, through Wealthscape, the new Investment Portal that gives you online access to your accounts, replacing the previous portal called “Account View”. 
  • The transition away from LPL Financial over to Kestra Financial & NFS can take anywhere from 2 weeks to 2 months depending on how quickly your forms are submitted and the funds/investments are transferred.

Will this change cost me anything or have any taxable consequences?

  • There are no costs or taxable consequences to you, our clients. We are simply changing our internal operations to better serve you. In order to do this, we must move all of our clients’ accounts from LPL Financial to NFS – National Financial Services, the new custodian.

What will happen to my investments?

  • If your investments are held with LPL Financial, they will continue to stay invested. When the transfer form is submitted, your investments will stay invested during the transfer process until they arrive at NFS.  When they arrive, we will audit and confirm that everything has transferred.

 What will happen to my monthly income distributions?

  • If you are receiving income on a monthly basis from LPL Financial, that will continue until the transfer form is submitted. Once the transfer is initiated, you will not receive distributions until the account has arrived at NFS.  When the account at NFS has been funded with your investments, distributions will continue on the schedule they were previously on.

 Why did we switch to Kestra and NFS?

  • Being an independent financial planning firm, not a large institution, is a big reason we at RetireRight are able to serve you like we do. We believe the smaller-sized Broker-Dealer Kestra fits RetireRight’s independent approach, and paired with a Custodian that has the size and scale of NFS (Fidelity) will allow us to serve you for many years to come.