Undesignated beneficiaries put client assets at risk — and create a powerful opportunity for you to engage, add value, and expand your practice.
As part of our ongoing commitment to proactive client service, we are reaching out to inform advisors about IRA brokerage accounts that currently have no valid beneficiary information on file.
Accurate and up-to-date beneficiary designations are critical to ensure a smooth transfer of assets upon a client’s passing. We recognize that handling IRA accounts through the estate process can be burdensome and time-consuming. To help mitigate this issue, we’re providing tools and support to help you identify and address these accounts.
Tools & Resources to Support You
- Wealthscape Intelligence
Advisors can access a dedicated dashboard via:
Menu → Intelligence, Reports & Alerts → My Dashboard
- Look for the tile labeled “Undesignated Beneficiaries.”
- This tool provides insight into the total assets at risk of defaulting to the estate process and highlights high-priority accounts for follow-up.
- By selecting “View Beneficiary Insights,” you can view a detailed list of accounts requiring action.
- Automated Beneficiary Reports
Advisors will begin receiving automated reports from Wealthscape Reporting Alerts listing IRA brokerage accounts under their book of business that do not have valid beneficiaries on file. This is a key opportunity to reach out to clients and confirm that their beneficiary designations are accurate and reflect their current wishes.
Upcoming Client Outreach
At the end of 2025, ESI will be sending letters to all clients with NFS IRA brokerage accounts that lack a valid beneficiary designation. These letters will include an NFS beneficiary form, allowing clients to update their information via mail or fax to our back office.
Need Assistance?
For questions regarding current beneficiary designations or how to view this information, please contact Brokerage Services at 800-344-7437 (Options 2-2).
