Merriman Wealth Management, LLC (Seattle)

Name: Merriman Wealth Management, LLC
Address: 800 Fifth Avenue Suite 2900, Seattle, WA, 98104
Telephone: 206-285-8877

Merriman Wealth Management, LLC is a large advisory firm based in Seattle. It manages $2.55 billion of regulatory assets for 7,292 client accounts. It has been registered with the SEC as an adviser since 2013 and has operated in the jurisdictions of Alabama, Alaska, Arizona, and 38 other states.

Merriman Wealth Management provides financial planning services, portfolio management for individuals and small businesses, portfolio management for pooled investment vehicles, and selection of other advisers. It prepares financial plans for approximately 2,000 clients. On top of advisory services, the firm doesn't engage in other business activities.

Merriman Wealth Management: assets under management

The assets under management (AUM) of Merriman Wealth Management, LLC is $2.55 billion. The firm's AUM has grown by 69% since the beginning of its operation, and $1 million of the total AUM is attributable to clients outside of the United States.

The firm manages $2.55 billion in discretionary accounts and $2.29 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $376.04 thousand each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $4.46 thousand.

Merriman Wealth Management has custody of $1.48 billion in cash and securities for 1,079 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in investment and business development companies the most. They account for 57% of the total AUM. The second-largest asset type is government bonds, which make up 17% of the firm’s portfolio. Investments in investment grade corporate bonds form 14% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Merriman Wealth Management, LLC for their services and products based on a percentage of assets under management and performance-based fees. The adviser charges an additional fee when a set benchmark is outperformed. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Merriman Wealth Management serves?

The firm provides services to individuals, high net worth individuals, and pooled investment vehicles. The largest group of clients of Merriman Wealth Management is high net worth individuals with 820 clients and $1.96 billion of assets under management. Among the 7 most similar advisory firms, Merriman Wealth Management has the 2nd highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $2.55 billion for 2,249 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. None of the firm’s clients are foreign persons or businesses.

Merriman Wealth Management also advises several private funds. Namely, one hedge fund. The minimum investment commitment required of non-related persons is $250,000 for each fund.

Careers at Merriman Wealth Management, LLC

The company employs 54 people that are either part- or full-time employees. 59 percent of the employees work as investment advisers or researchers. 30 employees are registered as investment adviser representatives with the state securities authorities.

There are 2 people with the role of looking for and bringing in new clients on behalf of the firm. The firm compensates employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Stephanie Brown	Cco	1 May 2009	Other	5296133
Colleen Joy Lindstrom	Ceo	1 Oct 2010	Other	4464152
David Steven Spratt	Coo/cco	1 Sep 2012	Other	2275360
Llc Focus Operating	Member (manager)	1 Dec 2012	75% - 100%	20-8161914
Colleen Joy Lindstrom	Cfo	1 Jan 2017	Other	4464152
Jeremy Andrew Burger	Ceo	1 Jan 2017	Other	4621172

Indirect Owners

The SEC currently registers 10 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
L.P. Summit Partners Vi (Gp)	General partner	1 Dec 2000	Other	04-3540852
Llc Summit Partners Vi (Gp)	General partner	1 Dec 2000	Other	04-3568448
L.P. Summit Venture Vi A	Member (manager)	1 Jan 2006	25% - 50%	04-3540853
Llc Focus Financial Partners	Member	1 Jan 2007	75% - 100%	16-1728260
L.P. Cp Falcon Aiv	Member	1 Oct 2013	25% - 50%	36-4767158
L.P. Trident Vi Parallel Fund	Member	1 Apr 2017	75% - 100%	98-1132009
Trident Ffp Blocker Llc	Limited partner	1 May 2017	25% - 50%	82-1662766
L.P. Trident Vi	Limited partner	1 May 2017	25% - 50%	98-1131820
L.P. Trident Ffp	Member	1 Jul 2017	25% - 50%	82-1662703
Focus Financial Partners Inc.	Member	1 Jul 2018	75% - 100%	47-4780811

Based in Seattle

The principal office where Merriman Wealth Management, LLC performs its advisory services is located at 800 Fifth Avenue Suite 2900, Seattle, WA 98104, which is also the mailing address of the firm. An additional office of the firm is in Spokane, WA. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 206-285-8877 or by fax 206-286-2079. The normal business hours are 7 a.m. - 4 p.m. on Monday - Friday. You can find more information about the New York firm at merriman.com and its LinkedIn profile.