Firm Info
Firm Size
Services Offered
- Financial Planning
- Portfolio Management for Individuals & Small Businesses
Types of Clients
- Individuals (Not High Net Worth)
-
Individuals High Net Worth
*>=750k in Investable Assets or >=1.5m of Estimated Total Net Worth
- Charitable Organizations
Available Fee Structures
- Percentage of Assets Under Management (AUM)
- Hourly
- Fixed Fees (Other than subscription)
- Other
Merit Financial Partners LLC Overview
Merit Financial Partners LLC is a registered investment advisory firm that provides investment advice only. The firm specializes in financial planning and portfolio management services for individuals and small businesses. Established in 2017, Merit Financial Partners LLC has built a solid reputation in the financial sector. Headquartered in Maspeth, NY, the firm prides itself on providing cutting-edge investment solutions, tailored to meet the unique needs of its clients. One of the key strengths of Merit Financial Partners LLC is its fee-only arrangement. By charging clients based on a set fee structure, rather than earning commissions or other forms of compensation from financial products, the firm is better equipped to provide unbiased investment advice that is fully aligned with clients' interests. The fee-only model also promotes transparency, as clients know exactly what they are paying for the services they receive. As a registered investment advisory firm, Merit Financial Partners LLC is authorized to provide investment-related services to clients. The firm's expertise in financial planning and portfolio management sets it apart from other investment firms in the industry. Whether clients are seeking to grow their wealth, save for retirement, or plan for their children's education, Merit Financial Partners LLC can help them achieve their financial goals. With a commitment to excellence and a focus on building long-term relationships, the firm continues to make a meaningful impact in the financial lives of its clients.
Merit Financial Partners LLC is a financial advisory firm that caters to a diverse clientele, including individuals, high net worth individuals, and charitable organizations. The firm takes pride in addressing the unique needs and goals of each client, providing tailored services that cater to their specific financial situations. Whether its retirement planning, investment management, or estate planning, Merit Financial Partners LLC is equipped to handle various financial needs. In terms of fee structures, Merit Financial Partners LLC offers different options depending on the service provided. Clients who avail themselves of investment management services are charged a percentage of their assets under management (AUM). For clients who require financial planning services, the firm may charge an hourly rate or a fixed fee, depending on the scope of the work involved. Other types of fees, such as performance-based fees or project fees, may also be offered depending on the specific service requested. Overall, Merit Financial Partners LLC is committed to providing transparent and flexible fee structures that align with the unique financial needs and goals of its clients. With a client-centric approach to financial planning, the firm has built a reputation for delivering customized and effective solutions that help clients achieve their financial objectives.
Typical Clients, Fee Structures & Investment Minimum
According to Merit Financial Partners LLC's Part 2 Brochure, the firm does not mention an investment minimum. No note about investment minimums is present in their brochure.
How This Office Can Help Westport, CT Residents
Merit Financial Partners, LLC provides comprehensive financial planning and investment management services to clients in Westport, CT. The firm understands that individuals and families in Westport may be facing unique financial situations, such as high living costs, property tax rates, and a strong housing market. Merit Financial Partners works closely with clients to develop customized financial plans that address their specific needs and goals, including retirement planning, tax management, estate planning, and risk management. The firm also assists clients with investment management, helping them to navigate the complex and ever-changing investment landscape. Merit Financial Partners leverages its vast network of resources and research to identify investment opportunities that align with each client's unique financial plan and risk tolerance. By providing personalized guidance and advice, the firm helps clients optimize their portfolios and achieve their long-term financial objectives. With Merit Financial Partners, clients in Westport can feel confident that their finances are in capable hands.
Services Offered by Merit Financial Partners LLC
Core Advisor Services
Financial Planning
Financial planning services encompass the process of devising strategies for your future financial well-being, including preparing for events such as retirement, funding your child's college education, or planning for the transfer of assets.
Portfolio Management for Individuals & Small Businesses
Portfolio management entails the careful selection and strategic management of investment combinations tailored to meet the needs of individuals and small businesses.
Market Timing Services
Market timing services involve the endeavor to generate short-term profits from investments by capitalizing on opportunities to buy at low prices and sell at high prices.
Other Services
Selection of Other Advisors
The firm provides support in selecting and engaging other advisors who possess specialized expertise to complement your financial needs.
Publication of Periodicals or Newsletters
The firm engages in the dissemination of diverse financial educational materials through the publication of periodicals.
Educational Seminars & Workshops
The firm organizes and conducts seminars or workshops aimed at enlightening investors on various financial concepts.
Fee Structures
Financial advisory fees usually are based on the services provided. Fee types charged by Merit Financial Partners LLC most likely consist of the following fee types: asset-based, hourly or fixed. Wrap fee programs, or the practice of bundling services for a single fee, are not offered by the firm.
Available
Percentage of Assets Under Management (AUM)
This fee structure charges a percentage of the assets under management by the firm. Fee structures are often tiered based on the amount of assets managed, with higher AUM often charged a lower rate.
Between 0.50% and 2.00% of assets under management (annually), often lower for a robo advisor. Fees are typically charged quarterly by the firm and will show on your investment statement. View typical advisor costs here.
~96% of registered firms offer this fee structure.
If you have $1 million managed by a firm at a 1% management fee, you would be charged $10,000/year to manage your assets (or $2,500 per quarter). This would be automatically deducted from your investment portfolio.
Hourly
Similar to an attorney, a financial consultant might charge fees based on hourly rates. This fee structure can be advantageous when seeking specific or ad hoc advice.
Charges generally span from $150 to $400 per hour, depending on the extent of the services required.
~33% of registered firms offer this fee structure.
If you needed hourly consulting to sell a business or transfer your estate to your children but did not want your assets managed by a firm, you could consult a firm at an hourly rate to answer any questions you may have.
Fixed Fees (Other than subscription)
Fixed fees are a one-time, lump-sum payment rendered for a specific service, such as creating a financial plan without ongoing management or implementation. This option is beneficial if you solely require guidance for a particular objective rather than a long-term consultancy or asset management.
Fixed fees for creating a financial plan often range from $1,000 to $3,000.
~49% of registered firms offer this fee structure.
If you did not want a firm to manage your assets but needed to create a retirement plan, life transition plan such as divorce or loss of a spouse, estate transition plan, business financial plan, or any other financial planning, you could consult with an RIA firm to help you with the creation of that plan.
Other
Firms occasionally offer unconventional fee structures when charging clients. For more detailed information about a firm’s specific fee structures, please refer to their Form ADV and Part 2 Brochure.
Unavailable
Subscription (Newsletter or Periodical)
Commissions
Occasionally, advisors are compensated through commissions by selling certain financial products, such as mutual funds or life insurance policies, or as a broker-dealer by facilitating the buying and selling of securities. Advisors who receive commissions may be incentivized to make specific suggestions to clients in order to secure a commission. Advisors who operate on a fee-only basis do not earn commissions, whereas fee-based advisors may do so.
Often 3% - 6% of the value of the security.
Only ~3% of registered firms say they offer this fee structure, but other advisors may receive “soft dollars”. Many mutual funds charge 12b-1 fees to cover the promoting and selling of the fund’s shares. While your advisor does not charge these fees, they may receive a kickback for recommending the investment.
An advisor selling their client on a life insurance policy and receiving a commission on the sale of that policy, or recommending a specific investment and receiving a kickback for that recommendation.
Performance-based Fees
Advisors typically obtain performance-based fees if a portfolio surpasses a predefined benchmark. This fee is determined through various methods, but is most commonly assessed as a percentage of investment gains. Performance-based fees may incentivize advisors to undertake riskier decisions in pursuit of generating higher returns.
“Two and Twenty” is common among hedge funds with a 2% management fee and a 20% incentive fee above the “hurdle rate,” or performance threshold the fund is compared against.
32% of registered firms offer this fee structure.
A hedge fund earns a 15% return with a 20% performance fee in above the performance of the S&P 500, which grew 7% that same year.
20% of fund growth in excess of S&P 500’s 7% growth for that year = 15% hedge fund growth - 7% S&P 500 growth = 8% difference x 20% = 2% performance fee (in addition to the management fee).
Types of Clients
*The Securities & Exchange Commission defines someone as “high net worth” if they have $750,000 or more in investable assets or $1.5M of estimated total net worth.
This Office Location
- Mon 9 AM–5 PM
- Tue 9 AM–5 PM
- Wed 9 AM–5 PM
- Thu 9 AM–6 PM
- Fri 9 AM–5 PM
- Sat Closed
- Sun Closed
Other Office Locations
Firm Headquarters
This firm has no other locations.
State Registrations
Merit Financial Partners LLC is registered to service clients in the following states:
- Connecticut
- Florida
- New Jersey
- New York
- Texas
Disciplinary History
Merit Financial Partners LLC does not have any disclosures. Please visit it's Form ADV for more details.