Clients
Merit Financial Group serves 20,711 clients, 4,344 of them high-net-worth individuals. The average client has about $1.2 million with the firm, and high-net-worth clients hold 47% of its $23.9 billion in assets.
- Individuals15,696 clients28%
- High-net-worth individuals4,344 clients47%
- Pension and profit-sharing plans434 clients18%
- Corporations and other businesses184 clients5%
- OtherCharitable organizations, Other investment advisers1%
Show client breakdownHide client breakdown
| Client type | Clients | Regulatory AUM | Share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | 15,696 | $6,656,033,318 | 27.9% | $424K |
| High-net-worth individuals | 4,344 | $11,328,276,060 | 47.4% | $2.61M |
| Pension and profit-sharing plans | 434 | $4,405,920,804 | 18.5% | $10.2M |
| Charitable organizations | 52 | $201,137,321 | 0.8% | $3.87M |
| Other investment advisers | 1 | $14,058 | 0.0% | $14K |
| Corporations and other businesses | 184 | $1,283,917,131 | 5.4% | $6.98M |
| Total | 20,711 | $23,875,298,692 | 100% | $1.15M |
- Clients
- 15,696
- Regulatory AUM
- $6,656,033,318
- Share
- 27.9%
- Avg. per client
- $424K
- Clients
- 4,344
- Regulatory AUM
- $11,328,276,060
- Share
- 47.4%
- Avg. per client
- $2.61M
- Clients
- 434
- Regulatory AUM
- $4,405,920,804
- Share
- 18.5%
- Avg. per client
- $10.2M
- Clients
- 52
- Regulatory AUM
- $201,137,321
- Share
- 0.8%
- Avg. per client
- $3.87M
- Clients
- 1
- Regulatory AUM
- $14,058
- Share
- 0.0%
- Avg. per client
- $14K
- Clients
- 184
- Regulatory AUM
- $1,283,917,131
- Share
- 5.4%
- Avg. per client
- $6.98M
Total
- Clients
- 20,711
- Regulatory AUM
- $23,875,298,692
- Share
- 100%
- Avg. per client
- $1.15M
What it does
Merit Financial Group provides financial planning, portfolio management for individuals and small businesses, portfolio management for institutions, pension consulting, selecting other managers and educational seminars. It is paid through a percentage of assets, hourly charges, fixed fees and other arrangements.
Merit Financial Group provided financial planning to 1,000 clients last fiscal year and advises no private funds.
Nearly all assets ($23.87B across 20,702 accounts) are managed with discretion; $5.44M across 8 accounts are not. $2.30B sits in a wrap fee program the firm both sponsors and manages. 0% of clients are outside the U.S., and 3 clients received advice without assets under management last fiscal year.
What the accounts hold
The filed percentages total 96%. The values below are shown as filed.
- Exchange-traded equity securities
- 21%
- Investment grade corporate bonds
- 1%
- Securities issued by registered investment companies or business development companies
- 63%
- Cash and cash equivalents
- 6%
- Other (<1% of Each of Non-Exchange Traded Equity Securities, US Government/Agency Bonds, US State and Local Bonds, Sovereign Bonds, Derivatives, Securities Issued by Pooled Investment Vehicles.)
- 5%
Custodians
Merit Financial Group’s client accounts are held mainly at Fidelity, with 32% of managed assets, and Charles Schwab, with 11%. Merit Financial Group has custody of $3.57B for 7,194 clients.
- FidelityFidelity Brokerage Services LLC · Covington, KY · $7.74B32%
- Charles SchwabCharles Schwab & Co., Inc. · San Francisco, CA · $2.73B11%
- All other custodians$13.41B56%
Ownership and leadership
Merit Intermediate Holdings, LLC owns 75% or more of Merit Financial Group, and Rick Kent is its CEO.
- Owns 75% or more of Merit Financial Group, LLC
Merit Intermediate Holdings, LLC
Control person · since March 2022
- Owns 75% or more of Merit Intermediate Holdings, LLC
Merit Holdings, LLC
Control person · since March 2022
Leadership
- Rick KentChief Executive Officer
- Kay MayhuePresident
- Chrissy LeeChief Operating Officer
- John BaxleyChief Compliance Officer
- Brian AndrewChief Investment Officer
- John W. IV MartinGeneral Counsel
- Douglas MooreCFO
Staff
- 470 employees
- 229 in advisory functions
- 236 state-registered reps
- 407 broker-dealer reps
- 151 insurance agents
- 20 soliciting firms
Reported holdings
Merit Financial Group’s reported 13F holdings total $16.38B across 2,360 positions, and the ten largest make up 20.0% of it.
- $16.38B
- Reported 13F value
- 2,360
- Positions
- 20.0%
- In the 10 largest
- +21.7%
- Value vs. prior quarter
- Vanguard Index Fds · Growth ETF2.6%
- iShares TR · Core S&P US Gwt2.4%
- Apple Inc.2.2%
- Gmo ETF Trust · US Quality ETF2.1%
- iShares TR · Core S&P US Vlu2.0%
- Vanguard World FD · Mega Grwth Ind2.0%
- Blackrock ETF Trust · iShares US Equit1.9%
- Vanguard World FD · Mega Cap Val ETF1.6%
- iShares TR · Core S&P500 ETF1.6%
- Nvidia Corporation1.6%
Together, the ten largest are 20.0% of reported value.
A 13F covers only exchange-traded long positions the firm holds with discretion, so this $16.38B is not its $23.88B in regulatory assets and does not represent any individual client's portfolio.
Fees
Merit Financial Group is paid through a percentage of assets under management, hourly charges, fixed fees (other than subscription fees) and other.
Merit Financial Group’s fee rates are not included in this profile. Find its brochure on the SEC’s site.
Offices and registrations
Besides its headquarters, Merit Financial Group has 65 offices (1 private residence, listed without an address), with 25 listed addresses across 12 states.
Wisconsin · 5 listed addresses
- 1350 Deming Way, Middleton
- 1160 Fond Du Lac Ave, Sheboygan Falls
- 4524 Dollar DR., West Bend
- 814 Atlas Ave., Madison
- 421 E. Silver Spring Drive, Whitefish Bay
Georgia · 3 listed addresses
- 2400 Lakeview Parkway, Suite 550, AlpharettaHQ
- 11675 Rainwater Drive, Alpharetta
- 2551 Lafayette Plaza Drive, Albany
Pennsylvania · 3 listed addresses
- Oaks Plaza 2350 E. Third Street, Williamsport
- 502 Bridge Street, New Cumberland
- 1189 Lancaster Avenue, Berwyn
Texas · 3 listed addresses
- 800 E. Sonterra BLVD., San Antonio
- 2801 Network BLVD., Frisco
- 2625 Southlake BLVD, Southlake
Washington · 3 listed addresses
- 111 S Post ST, Spokane
- 6415 E Lake Sammamish Pkwy Se, Issaquah
- 1919 N Pearl Street, Tacoma
Florida · 2 listed addresses
- 5901 Broken Sound Parkway NW, Boca Raton
- 145 W. Center Ave., Sebring
Colorado · 1 listed address
- 2000 South Colorado BLVD., Denver
Connecticut · 1 listed address
- 195 Danbury RD., Wilton
Idaho · 1 listed address
- 275 S. 5th Ave., Pocatello
Illinois · 1 listed address
- 20 N. Clark Street, Chicago
Maryland · 1 listed address
- 2099 Gaither Road, Rockville
North Carolina · 1 listed address
- 4235 S. Stream BLVD., Charlotte
Other business names
Merit Financial Group has reported 5 other business names to the SEC.
- Fiduciary Services
- Merit
- Merit Financial Advisors
- Reason Financial
- The Family Hug
Registration details
- Legal name
- Merit Financial Group, LLC
- Headquarters
- 2400 Lakeview Parkway, Suite 550, Alpharetta, GA 30009
- Phone
- 678-867-7050
- Website
- Not reported
- SEC file
- 801-67462
- Structure
- Delaware LLC
- Fiscal year end
- December
This directory does not report disciplinary history, for any firm or individual, in either direction. The SEC publishes the complete record, including any disciplinary events, and it is the authoritative place to check one. See this firm's record on adviserinfo.sec.gov
Common questions
How many clients does Merit Financial Group have?
Merit Financial Group has 20,711 clients and manages $23.9 billion for them, as of September 2026. They include 15,696 other individuals, 4,344 high-net-worth individuals and 434 pension and profit-sharing plans.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 24 September 2026
What services does Merit Financial Group offer?
Merit Financial Group provides financial planning, portfolio management for individuals and small businesses, portfolio management for institutions, pension consulting, selecting other managers and educational seminars.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
Which custodians does Merit Financial Group use?
Merit Financial Group’s separately managed account assets are held at Fidelity Brokerage Services LLC (Covington, KY), with $7,735,972,120 and Charles Schwab & Co., Inc. (San Francisco, CA), with $2,730,192,909. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 24 September 2026
How many financial advisors does Merit Financial Group have?
Merit Financial Group has 236 investment adviser representatives registered with state securities authorities, out of 470 employees, and 229 perform investment advisory functions. 407 are registered representatives of a broker-dealer and 151 are licensed insurance agents.
Source: Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file
What does Merit Financial Group invest in?
At the end of its last fiscal year, Merit Financial Group’s separately managed accounts held 63% registered funds (mutual funds, ETFs, BDCs), 21% exchange-traded equities, 6% cash and equivalents, 5% <1% of each of non-exchange traded equity securities, us government/agency bonds, us state and local bonds, sovereign bonds, derivatives, securities issued by pooled investment vehicles. and 1% investment grade corporate bonds. It advises no private funds of its own.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns Merit Financial Group?
Merit Financial Group is owned through a holding company by Merit Holdings, LLC. Its direct owner is Merit Intermediate Holdings, LLC (75% or more).
Source: Form ADV Part 1A, Schedules A and B, filed 24 September 2026
How does Merit Financial Group get paid?
Merit Financial Group is paid through a percentage of assets under management, hourly charges, fixed fees and other arrangements. Its Form ADV lists no commissions or performance-based fees among how it is paid.
Source: Form ADV Part 1A, Item 5.E, from the SEC's 2 October 2026 data file