Meridian Wealth Management
Meridian Wealth Management, LLC is a fee-based financial advisor firm with more than $558 million in client assets under management (AUM) and 15 advisory employees on staff. Lexington, Kentucky is home to Meridian, though it also has one other location in Kentucky, along with one apiece in Virginia and Tennessee. Although portfolio management, financial planning and retirement plan consulting remain its most prominent offerings, Meridian offers management services to its affiliated advisors as well.
Meridian Wealth Management Background
Meridian Wealth Management has been in business since 2009 when firm president Gregory Couch founded it. On average, the team at Meridian has worked in financial services or investment management for 14 years. Despite its array of financial advisors, Meridian employs just one certified financial planner (CFP).
What Types of Clients Does Meridian Wealth Management Accept?
The majority of Meridian Wealth Management’s client base is non-high-net-worth individuals, though it does have nearly 200 high-net-worth clients. Aside from these groups, Meridian also has advisory relationships with estates, trusts, corporations, charitable organizations, municipalities, pension plan participants and profit-sharing plan participants.
Meridian Wealth Management Minimum Account Size
New and existing clients of Meridian Wealth Management do not have to abide by any sort of minimum account size requirements.
Services Offered by Meridian Wealth Management
If you’re a client of Meridian Wealth Management, you’ll have a number of portfolio management, financial planning and retirement plan consulting services to choose from. Take a look over its offerings below:
- Portfolio management
- Wrap fee program available
- Customized non-discretionary and discretionary management
- Concentrated stock position analysis
- Portfolio risk analysis
- Investment monitoring and rebalances
- Financial planning
- Retirement planning
- Higher education funding
- Stock option planning
- Family business succession planning
- Life, annuity and long-term care insurance planning
- Cash flow planning
- Budgeting advice
- Recordkeeping services
- Tax planning and management
- Retirement plan consulting for participants
- Included accounts:
- Individual retirement accounts (IRAs)
- 401(k)s
- 403(b)s
- Pension plans
- Profit-sharing plans
- Evaluation of your personal retirement objectives
- Selection of investments
- Stocks
- Bonds
- Mutual funds
- Regular monitoring
- Educational support
- Included accounts:
Meridian Wealth Management Investment Philosophy
At the core of Meridian Wealth Management’s investing ideology is a focus on the long-term financial health of clients. While this is not an uncommon approach, Meridian’s introduction of short-term investment purchases into this philosophy is a bit surprising. The answer for this is simple, though, as short-term investments can help fuel a portfolio’s liquidity. On top of this, there is money to be made when it comes to selecting trendy stocks that don’t necessarily fit into long-term plans.
Once you’ve communicated to your advisor your personal financial needs (risk tolerance, time horizon, goals), he or she will begin building your investment portfolio. All securities are selected on a case-by-case basis, but Meridian does have some favorites in equities, mutual funds, exchange-traded funds (ETFs), corporate bonds, municipal bonds and U.S. government securities. Following the disbursement of your funds into the market, the firm will begin monitoring your investments and completing rebalances as necessary.
Fees Under Meridian Wealth Management
Meridian Wealth Management charges for portfolio management services based on a percentage of assets under management.The annual fee is usually around 1.00%, with the exact rate negotiable based on the complexity of the account and the services provided. For Meridian’s portfolio management wrap fee program, rates range from 0.95% to 1.10% annually. Payments are either billed directly to clients, or, should a client authorize it, the firm will take fees directly from a portfolio’s balance.
Meridian charges an hourly fee for its financial planning and consulting services. Rates typically are around $250 an hour, though that can vary depending on what you need done and how long the firm estimates it will take. Prior to the beginning of a financial planning relationship, Meridian requires you to sign a written agreement, which will explicitly lay out the fees you’re agreeing to.
What to Watch Out For
As a fee-based firm, some of Meridian Wealth Management’s advisors earn commissions from the sale of insurance products to clients. This presents a conflict of interest, as an advisor may be more likely to recommend an insurance policy to you in an effort to receive more compensation. However, because Meridian is an SEC-registered firm, it abides by fiduciary duty, meaning it is legally bound to act in your best interests no matter what.
Look below to find out more about Meridian’s one disclosure listed on its official Form ADV.
Disclosures
The lone disclosure belonging to Meridian Wealth Management stems from an incident that occured in 2014. The state of Kentucky, where the firm is based, put forth this regulatory discipline. Kentucky alleged that throughout 2014, Meridian employed or was associated with an investment advisor representative who was unregistered. Because this was in violation of Kentucky state law, the firm was ordered to pay a $1,500 penalty. In June 2015, Meridian paid the fine, which resulted in the matter being resolved.
Opening an Account With Meridian Wealth Management
Those who want to work with Meridian Wealth Management should feel free to visit or call one of its locations in:
- Lexington, Kentucky - (859) 543-4516
- Hazard, Kentucky - (606) 487-0202
- Nashville, Tennessee - (859) 543-4516
- Virginia Beach, Virginia - (757) 271-5690
Where Is Meridian Wealth Management Located?
Meridian Wealth Management’s main office is in Lexington, Kentucky. But the firm actually has branches around the southeastern U.S., including ones in Hazard, Kentucky; Virginia Beach, Virginia; and Nashville, Tennessee.
Tips for Retirement Planning
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