The Company:
Merit is a fast growing, pioneering financial services firm that invests heavily in the growth and development of team members. Merit seeks to establish, educate, and help individuals reach their financial goals as they transition into and experience retirement. With an unswerving commitment to excellence and reliability, Merit provides objective financial advice and believes in establishing long-lasting relationships. By offering an array of services, clients can receive tailored solutions that promote growth and help them achieve financial goals.
The Company:
Merit is a fast growing, pioneering financial services firm that invests heavily in the growth and development of team members. Merit seeks to establish, educate, and help individuals reach their financial goals as they transition into and experience retirement. With an unswerving commitment to excellence and reliability, Merit provides objective financial advice and believes in establishing long-lasting relationships. By offering an array of services, clients can receive tailored solutions that promote growth and help them achieve financial goals.
Merit believes in addressing the retirement challenges in America by helping clients reach financial freedom and confidence to the working population and retirees alike. This focus on comprehensive financial wellness enables us to deliver the ultimate client experience.
Headquartered in Alpharetta, GA, with 39 locations across the country, Merit balances tactical advice with innovative strategy. Our 250 hardworking employees are leaders rooted in humility and we are poised to grow. Merit is a multi-generational firm with a foundation built around servant leadership and total team leadership. We have been recognized as a “Best Places to Work” by InvestmentNews and have made the fastest growing companies list in both INC 5000 and Georgia’s Fastest 40. As we expand and work to bring our relationship-driven approach to the financial industry, we are looking for the right individuals to join our team.
The Position:
The Employee Stock Ownership Plan (ESOP) Trustee is responsible for acting in the best interest of the employee-owners, ensuring the effective management and administration of the company’s ESOP. The trustee must be knowledgeable about the legal, financial, and regulatory aspects of ESOPs and must ensure that the plan complies with all applicable laws and fiduciary responsibilities.
Responsibilities:
Fiduciary Oversight: Act as a fiduciary to the ESOP plan participants, ensuring the plan operates in accordance with ERISA (Employee Retirement Income Security Act) guidelines.
Ensure the interests of the employees are protected, making decisions that benefit the employee-owners while minimizing conflicts of interest.
Plan Administration: Oversee the administration of the ESOP, ensuring the timely and accurate distribution of shares and contributions.
Collaborate with third-party service providers such as recordkeepers, appraisers, and legal advisors to manage the day-to-day operations of the ESOP.
Valuation Oversight: Ensure that the ESOP’s annual valuations are conducted properly and fairly, taking into account the current financial standing of the company and fair market value of shares.
Review and approve the independent appraiser’s reports and any adjustments to the ESOP share price.
Regulatory Compliance: Ensure compliance with all applicable federal and state laws, including the IRS, DOL, and ERISA regulations.
Ensure that the ESOP meets the requirements for tax-qualified status and other regulatory obligations.
Reporting & Communication: Ensure that all required reports, filings, and disclosures are completed in a timely manner, including Form 5500, summary plan descriptions, and participant communications.
Communicate effectively with company management, employees, and other stakeholders about the ESOP's performance and any changes or updates to the plan.
Conflict Resolution:
Address any disputes or concerns related to the ESOP, including issues around share allocations, distributions, and participant eligibility.
Work with legal counsel to resolve conflicts and ensure compliance with all regulations.
Decision Making: Make informed decisions regarding ESOP transactions, such as the purchase or sale of company stock, in line with the plan’s goals and legal requirements.
Approve any changes to the plan or amendments that affect the structure or operations of the ESOP.
Regular Reviews: Conduct periodic reviews of the ESOP’s performance, including its financial health, share allocation, and distribution methods.
Evaluate the plan’s effectiveness in achieving the company’s goals and the financial wellbeing of employees.
Training and Education: Ensure that company leadership and employees are educated on the ESOP structure, benefits, and responsibilities.
Stay informed on developments in ESOP regulations, trends, and best practices.
Ensure leadership is aware of other ways Merit can help their company, their leadership and their other employees. Bringing in subject matter experts where appropriate.
Please note the job responsibilities may vary, grow and change.
Salary + Benefits: Competitive, based on experience
Medical Insurance
Dental/Vision Insurance
Life & Personal Accident Insurance
Short-term Disability Insurance
Long-term Disability Insurance
Flexible Spending Account (FSA), Health Savings Account (HSA) or Dependent Care FSA
401(k) Plan with company matching
Paid Time Off (PTO) and paid holidays
Best Places To Work for Financial Advisors 2018-2024:Best Places to Work for Financial Advisors 2018, 2019, 2020, 2021, 2022, 2023, and 2024 – Recognized firms were required to be a registered investment advisor (RIA) that has been in business at least one year and having a minimum of 15 full-time/part-time employees. The assessment consisted of a questionnaire on benefits and policies completed by human resources staff along with an engagement & satisfaction survey completed by a minimum of 40% of staff. 50 firms were selected for this award from an undisclosed list of submissions. There was no charge to be included in this award listing.
Georgia Fast 40 2019 and 2022:The Georgia Fast 40 for 2019 and 2022 was awarded by the Atlanta Chapter of the Association for Corporate Growth. To be eligible companies must be for profit and headquartered in Georgia and the most recent year-end revenues ranging from $15 million to $500 million and have three years of verifiable revenue and employment growth.
Inc 5000 2019, 2020 & 2021:The Wilshire 5000 Total Market Index, which consists of more than 5000 companies, represents virtually all of the capitalization of the entire U.S. stock market
Compensation:
Merit Financial Advisors offers competitive compensation based on experience, qualifications, location, and market data. Where required by applicable law, salary ranges will be provided during the hiring process.
Requirements:
Bachelor’s degree in Finance, Accounting, Business, or a related field.
CPA, JD, or other professional designation related to ESOPs or fiduciary duties is preferred.
Minimum of 5 years of experience in employee benefits administration, fiduciary services, or a related field.
Experience with ESOPs and familiarity with ERISA and other regulatory guidelines is strongly preferred.
Any certifications such as Project Management Professional (PMP), Certified Scrum Master (CSM), or PRINCE2 certification are a plus.
Strong knowledge of ESOP regulations, structure, and compliance.
Excellent board room presence and presentation skills.
Strong knowledge of ESOP regulations and fiduciary duties.
Excellent analytical, problem-solving, and decision-making skills.
Strong communication skills, with the ability to explain complex concepts to a diverse audience.
Ability to manage relationships with third-party service providers and stakeholders.
Attention to detail and strong organizational skills.
