Kayla Tausche CNBC

y andre lehner
INVESTMENTS WITH
A PERSONAL TOUCH
In the often confusing world of investment and financial management, clients of Paul Merritt,
a partner (principal) of NTrust Wealth Management, know that their financial interests
are being protected by a seasoned investment manager who puts their needs before his own.
Merritt, a 21-year veteran of the
U.S. Army, spent a decade
working in a big firm before
opening NTrust in 2009. Being able to
build one-on-one client relationships,
educating clients and helping them
make smart financial decisions are the
top reasons why Merritt says being
independent is so worthwhile. Independence
offers both Merritt and his
clients more flexibility and a broader
array of services than working in one
of the big wire houses ever could.
A great believer in fiduciary responsibility,
Merritt takes his role as
a partner in the client relationship as
seriously as he hopes his clients do.
“I expect the discussion to be us presenting
a series of options and coming
up with the best bet for those clients,”
Merritt said, adding that it is critical
for clients to have the final say in their
investment decisions.
“I take a lot of responsibility for the
recommendations I come up with, but
ultimately it’s the clients’ money,”
he explained. This is why he wants
clients to understand his recommendations
along with all the associated
risks and benefits first, before making
decisions.
When it comes to the SEC implementing
uniform fiduciary standards,
Merritt supports reform but sees both
sides. “I act as a fiduciary for my clients,”
he emphasized, saying that as
an independent, he can put clients’
needs first.
“In publicly traded firms, you have
shareholder interests competing with
client interests. At wire houses it’s
much more difficult, but not impossible,
for advisors to achieve a pure fiduciary
standard,” Merritt explained.
“Conversely, the challenge with
adopting pure fiduciary standards is
that people with limited amounts to
invest, particularly in the retirement
sector, will have a much harder time
getting educated advice.”
Despite an influx of new industry
buzz words, like alpha and beta
risk assessment, Merritt believes in
explaining the choices to his clients
without using excessive jargon. He
is particularly vigilant when it comes
to advising clients nearing retirement
age, explaining that they don’t have
the same recovery time as younger
investors during periods of market
correction. Diversification remains
key, but knowing when to transition
a client to cash is equally important.
“You have to look at everything to
protect clients the best you can – and
to provide a good rate of return without
over-stressing one area of the market,”
he said.
According to Merritt, building those
one-on-one relationships with clients
and getting to know them on a personal
level not only helps him responsibly
grow his practice, but it makes
him a better wealth manager, because
he fully understands the unique needs
of each person sitting across the table.
Securities and Advisor Services offered
through Commonwealth Financial
Network®, Member FINRA/SIPC, a
Registered Investment Advisor
Windwood Centre
780 Lynnhaven Parkway
Suite 190
Virginia Beach, VA 23452
www.ntrustwm.com
THE SUIT MAGAZINE p.69