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.

For more information, visit: www.ntrustwm.com

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