Broker Check

Transition to LPL

You've undoubtedly heard or received a letter from us about our transition to LPL. While many things are happening behind-the-scenes, you can use this page to find answers to questions you may have and further details as we navigate the change of platforms!

Frequently Asked Questions:

How do I access my old tax forms?

  • If you had an account held on the Pershing platform, you will have to work directly with Pershing to use their NetXInvestor online access or call their offices. Please use step-by-step document for setting up your online access.
  • You could also have had tax documents from Ivy Investments, please reach out to our office if you expected more tax documents than you received.
  • You likely will receive tax documents from LPL. We can provide these if you call our office and they can also be found through your online account access. 

My recent statement in the mail shows $0 - where is my money?

  • Ivy Investments sends out quarterly statements. Accounts that were previously held at Ivy but transferred to LPL in July (many accounts) will receive zero balance statements for September 30th, 2021 from Ivy Investments.
  • There is also a good likelihood that accounts previously held on the Pershing platform will experience similar mailings.
  • There is no reason to panic. You can setup your Account View and see your balances now at LPL. While there, you can also elect to go paperless and reduce the amount of LPL mail you receive.
    • If you have trouble accessing your account view and seeing your assets on the new platform, please email our office at forneyfinancial@wradvisors.com.

    Why do my accounts show $0?

    • You will have to establish an online login for your Account View on LPL's platform
      • If you have trouble doing this, call or email our office at forneyfinancial@wradvisors.com and we can help you get set up!
    • Currently, if you have accounts remaining at Ivy Investments (529 plans, Simple IRAs, 403bs, SEPs, Exclusive Ks) you will have to go to Ivy Investments and login.
    • Your WealthLink (financial planning platform) portal is still accessible through your unique URL or through our website (next to the contact tab).
      • We have to re-establish the link that allows your account values to appear up-to-date in WealthLink, so bear with us as we make those manual updates!

    Why do my monthly contributions or withdrawals look different?

    • Although LPL received the correct information for the total amount of money to either take from or send to your bank account, it may be in multiple smaller transactions than before (when added up, they should still equal the total correct amount). We are working diligently to update these transactions to reflect how they were being sent while at Waddell & Reed. If you believe there is an error in the total amount that is contributed or withdrawn, please contact our office.

    Is Carla still my advisor?

    • Yes!
    • You may see Angela Gray's information as well on your documents/mailings from LPL - she is on Carla's team and is licensed, so she can also help you when Carla is unavailable. Check out Our Team to learn more about your Forney Financial resources!

    What is different?

    • Your statements should be easier to read.
    • Your fund options have expanded!

    When is the change occurring?

    • It already did! Our first day with LPL was Thursday, July 22nd 2021!