Merit Financial Partners LLC

Item 1 – Cover Page 69-64 Grand Avenue Maspeth, NY 11378 (718) 898-0871 500 Post Road EAST, Suite 228 Westport, CT 06880 (203) 221-2799 www.meriLinancialpartners.com Form ADV Part 2 Advisory Brochure Annual Amendment March 2026 This brochure provides clients and prospecUve clients with informaUon about Merit Financial Partners and the qualificaUons, business pracUces, and nature of its services that should be carefully considered before becoming an advisory client. QuesUons relaUve to the firm, its services, or this ADV Part 2 may be made to the a[enUon of Mr. Michael Terry at (718) 898-0871. The contents of this brochure have not been approved or verified by the U.S. SecuriUes and Exchange Commission (SEC) or any other state or federal governmental authority. While the firm and its associates may be registered with the States of ConnecUcut, New York or other jurisdicUons, it does not imply a certain level of skill or training on the part of the firm or its associated personnel. AddiUonal informaUon about the firm, other advisory firms, or associated investment advisor representaUves is available on the Internet at www.adviserinfo.sec.gov. Merit Financial Partners Form ADV Part 2 – March 2026 Page 1 of 21  Item 2 - Material Changes Since our last annual updaUng amendment dated March 2025, the following material changes have been made to this brochure: Items 4 (Advisory Business), Item 5 (Fees and CompensaCon), Item 15 (Custody), and Item 16 (Investment DiscreCon). Please note, this item discusses changes we consider material and not all changes made. We encourage you to read the above referenced items in their enUrety. As with all firm documents, clients and prospecUve clients are encouraged to review this brochure in its enUrety and are encouraged to ask quesUons at any Ume prior to or throughout the engagement. The firm may at any Ume update this document and either send a copy of its updated brochure or provide a summary of material changes to its brochure and an offer to send an electronic or hard copy form of the updated brochure. Clients are also able to download this brochure from the SEC’s Website: www.adviserinfo.sec.gov or you may contact our firm at (718) 898-0871. Merit Financial Partners Form ADV Part 2 – March 2026 Page 2 of 21  Item 3 - Table of Contents Item 1 – Cover Page ...................................................................................................................................... 1 Item 2 - Material Changes ............................................................................................................................. 2 Item 3 - Table of Contents ............................................................................................................................. 3 Item 4 - Advisory Business ............................................................................................................................ 4 Item 5 - Fees and CompensaUon .................................................................................................................. 7 Item 6 - Performance-Based Fees and Side-By-Side Management ............................................................. 10 Item 7 - Types of Clients .............................................................................................................................. 10 Item 8 - Methods of Analysis, Investment Strategies, and Risk of Loss ...................................................... 11 Item 9 - Disciplinary InformaUon ................................................................................................................ 12 Item 10 - Other Financial Industry AcUviUes and AffiliaUons ................................................................. ….13 Item 11- Code of Ethics, ParUcipaUon or Interest in Client TransacUons and Personal Trading .................. 14 Item 12 - Brokerage PracUces .................................................................................................................... 16 Item 13 - Review of Accounts ..................................................................................................................... 18 Item 14 - Client Referrals and Other CompensaUon ................................................................................... 18 Item 15 - Custody ........................................................................................................................................ 19 Item 16 - Investment DiscreUon ................................................................................................................. 20 Item 17 - VoUng Client SecuriUes ................................................................................................................ 20 Item 18 - Financial InformaUon ................................................................................................................... 20 Important Note: Throughout this document, Merit Financial Partners, LLC may be referred to by the following terms: “Merit Financial Partners,” “the firm,” “we,” “us,” or “our.” The client or prospecUve client may be also referred to as: “you,” “your,” etc., and refers to a client engagement involving a single person as well as two or more persons. The term “advisor” and “adviser” are used interchangeably where accuracy in idenUficaUon is necessary (i.e., Internet address, etc.). This brochure consists of 21 pages. Merit Financial Partners Form ADV Part 2 – March 2026 Page 3 of 21  Item 4 - Advisory Business About Our Firm In uncertain and turbulent economic Umes with ever-changing investment rules and regulaUons, consumers need trusted advice they can count on. An unpredictable economy and so many financial choices can be overwhelming – almost to the point of inacUon. With Merit Financial Partners, you have an advocate. Someone who is on your side and who seeks to understand what you need and make it a reality. Merit Financial Partners, LLC is a New York based firm registered as an investment advisor with the SecuriUes and Exchange Commission (SEC). The Firm is the result of the merger of MTP Advisors (established in 2006) and Cox Financial Services (established 2009). Mr. Michael Terry and Ms. Elizabeth Cox are co- owners of Merit Financial Partners, LLC. Mr. Terry is Chief Compliance Officer. Merit Financial Partners provides fee-only financial planning and investment consultaUon and management services for individuals, trusts, estates, and other business enUUes. “Fee-only” means that we do not sell any financial products; we sell only our advice and services. This is different from other “advisors” in that we do not receive commissions or referral fees, nor do we offer percentage-of-asset fees for new engagements. This helps us remove conflicts of interests and align incenUves to provide you with the best financial advice and management services to meet your objecUves. In other words, we can give you the financial advice you seek, free from sales pressure. We succeed when you succeed/our success is directly Ued to your success (w/IM). We hold ourselves to a fiduciary standard, which means our firm and its associates will act in the utmost good faith and perform in a manner believed to be in the best interest of our clients. As investment advisors we are required to put you – the client – first. This sets us apart from other firms that may be held to a, perhaps lesser, suitability standard and may not be required under current regulaUon to disclose their conflicts of interest involving their clients’ (or their own) transacUons. 1 Our service offerings are wide-ranging to meet client needs. Our firm's advisory acUviUes involve conUnuous supervision and management of our clients' assets. When combined with financial planning, we describe this service as investment wealth management. As of December 31, 2025, the firm had approximately $308.2 million in discreUonary assets under its management. Other services are oriented toward financial planning services involving expense budgeUng and savings; educaUon, insurance, reUrement and tax planning, divorce financial analysis, college financial aid planning and other planning services. Our Services Merit Financial Partners conducts an introductory interview with each prospecUve client; we call this our “IniUal ConsultaUon.” During our IniUal ConsultaUon, we learn about your goals and current financial situaUon. We also discuss our approach to financial advising and detail related services, highlighUng which service or services might meet your goals and the associated cost. This meeUng also provides you with an opportunity to ask us any quesUons you may have to assess if our firm is a good fit for your needs. During or prior to the IniUal ConsultaUon, we provide each prospecUve client with a current ADV Part 2 Brochure (the document you’re reading now) as well as our Privacy Policy. Should you wish to engage MFP’s services, you (the client) and we (the firm) must enter into a wri[en agreement. Once we have signed an agreement, we will obtain addiUonal informaUon such as financial statements and similar documents from you or from anyone else you tell us is legally acceptable (e.g., another advisor, legal counsel, etc.). The term “assets under management” and rounding to the nearest $100,000 are as defined by the SEC’s 2010 General InstrucUons 1 for Part 2 of Form ADV. Merit Financial Partners Form ADV Part 2 – March 2026 Page 4 of 21  We may request this informaUon through further discussions, quesUonnaires, etc. to help us create a detailed financial portrait based on your financial needs, goals, and objecUves to best serve you. Our financial advice and/or financial plans are based upon the informaUon disclosed by you or your legal agent(s) and reflect your financial situaUon at the Ume the advice and/or plan is presented. Financial Planning Services The firm provides financial planning and investment consultaUon services, which may be either broad based or more narrowly focused, depending on your needs and wishes. Advice is rendered in the areas of cash flow and debt management, college funding, reUrement planning, reUrement benefits planning, estate planning, income real estate planning, tax planning, asset allocaUon and investment selecUon, property and casualty insurance, life and disability insurance, health insurance and long-term care insurance, and other specific needs as indicated by the client. If you request that we focus our financial planning and investment consultaUon services only on certain areas, please understand that your overall financial situaUon or needs may not be fully addressed due to the limitaUons you have established. We require financial planning clients to furnish certain records and documents for our review, which may include: • tax returns • current financial specifics including W2s or 1099s • informaUon on current reUrement plans and insurance provided by the client’s employer • mortgage informaUon • insurance policies • statements reflecUng current investments in your reUrement and non-reUrement accounts • copies of wills and trusts • other perUnent documents Our thorough review of these documents, combined with informaUon we obtained during an iniUal interview, will provide a comprehensive view of your current financial situaUon. Aqer understanding where you currently are, we can then assess the feasibility of and strategies to reach your stated objecUves given crucial factors such as your Ume horizon and risk tolerance, which is your ability to live comfortably with risk in associaUon with invesUng. This analysis will use your current financial situaUon as a baseline and incorporate analysis and future projecUons of alternaUve possible scenarios, as appropriate. We will then present our analysis and a wri[en summary of the significant observaUons, assumpUons, and recommendaUons in each area in which we were engaged to provide advice. For more broad-based planning, your engagement may include investment consultaUon services as described in the following secUon. You will retain full discreUon over all implementaUon decisions and are free to accept or reject any recommendaUon we make. Further, it remains your responsibility to promptly noUfy us if there is any change in your financial situaUon or investment objecUves for the purpose of our review, evaluaUon, or revision of previous recommendaUons and/or services. Financial Planning Packages MERIT FINANCIAL PARTNERS, LLC offers several packages designed to meet some of the more common needs and objecUves our clients may have. These packages are as follows: Merit Financial Partners Form ADV Part 2 – March 2026 Page 5 of 21  • Comprehensive Financial Plan: A look at mulUple aspects of your financial health: cash flow/saving assessment, debt management, investment planning, college planning, income tax planning, real estate assessment including income property, insurance planning, estate planning, & reUrement planning. With a comprehensive financial plan you will feel more confident about your financial decision-making, save more money and feel be[er about your progress in saving toward financial goals. This package benefits people at all income levels and at any stage of their lives. • Financial Goal Plan: In this process we determine the reUrement income goals and the acUons and decisions necessary to achieve those goals. This includes idenUfying sources of income, esUmaUng expenses, implemenUng a savings program and managing assets. Future cash flows are esUmated to determine if the reUrement income goal will be achieved. Do you want to know what you need to do to reUre when you want, how you want? Our reUrement planning process is for those planning to reUre within 5-15 years. This opUon provides an in-depth review of your current financial standing and your reUrement objecUves. The process includes: current net worth statement, current and long-term cash flow projecUons, review of your current investment porLolio, and reUrement capital needs analysis. Investment Management Services You may also choose to engage our firm to implement the investment strategies we have recommended. Your porLolio is constructed in accordance with the goals idenUfied during your financial planning process and relies upon an asset allocaUon strategy designed with those goals in mind. Holdings allocated in the investment porLolio are managed with a minimum investment horizon of three years. If your funds are required within a shorter Ume frame, they will be invested in accordance with your “drawdown horizon.” We employ acUve or passive investment strategies deemed appropriate for the individual investor, which are described in further detail in Item 8 of this brochure. We provide these services under an investment management agreement. PorLolio goals may range from current income with capital preservaUon to long-term growth and those offered by our firm are believed to be well diversified to minimize sector, industry, and other market risks. Stocks, bonds, mutual funds, index funds, closed-end funds, and other publicly traded securiUes may be used to achieve this mix. Whenever pracUcal, we will assist in preparing an investment policy statement (IPS), or similar document, reflecUng our client's investment objecUves, Ume horizon, risk tolerance, as well as policy or investment constraints. The IPS will be designed to be specific enough to provide ongoing guidance while concurrently allowing flexibility to respond to changing market condiUons. Since the IPS will to a large extent be a product of informaUon and data provided by our clients, they will be responsible for review and final approval of the statement. Other Services Tax PreparaUon Services We provide tax preparaUon services for a separate fee. We are not acUvely accepUng new tax preparaUon clients, however, we may do so on a case-by-case basis at our sole discreUon. Merit Financial Partners Form ADV Part 2 – March 2026 Page 6 of 21  Ongoing Planning Services We provide ongoing planning services (formerly ongoing advisory services) on a case-by-case basis at our sole discreUon. These services do not include implementaUon of investment advice. Clients control their own accounts and may make trades with our guidance. Investment management is available as a separate service. Divorce Financial Analysis and Planning Services Our firm may be engaged to provide financial analysis and planning in ma[ers involving divorce. Such services are for our client and their selected a[orney. At no Ume is this engagement to be considered providing legal advice involving the ma[er of marital dissoluUon, and clients are encouraged to obtain legal and accounUng services from an accredited professional source to review our work product and/or implement our recommendaUons. General InformaUon We do not sponsor or serve as porLolio manager for a wrap- fee investment program, nor do we provide legal or accounUng services. With your consent, we may work with your a[orney or accountant to assist with the coordinaUon and implementaUon of accepted strategies. You should be aware that these advisors may bill you separately for services and these fees will be in addiUon to those of our firm. Our firm will use its best judgment and good faith effort in rendering its services. MERIT FINANCIAL PARTNERS, LLC cannot warrant or guarantee any parUcular level of account performance, or that an account will be profitable over Ume. Past performance is not necessarily indicaUve of future results. Except as may otherwise be provided by law, our firm will not be liable to the client, heirs, or assignees for any loss an account may suffer by reason of an investment decision made or other acUon taken or omi[ed in good faith by our firm with that degree of care, skill, prudence, and diligence under the circumstances that a prudent person acUng in a fiduciary capacity would use; any loss arising from our adherence to your direcUon or that of your legal agent; or any act or failure to act by a service provider maintaining an account. Notwithstanding the preceding statement, nothing within our client agreement is intended to diminish in any way our fiduciary obligaUon to act in your best interest or in any way limit or waive your rights under federal or state securiUes laws or the rules promulgated pursuant to those laws. Item 5 - Fees and CompensaCon 2 Financial Planning Fees • Hourly Fee – We provide our financial planning services under an hourly engagement. Prior to entering into this agreement you may receive an esUmate of the fee range. Our hourly financial planning fee is $475 per hour. You are billed for the actual Ume spent by our firm, assessed in 10-minute increments; a parUal increment will be treated as a whole increment. Our firm may require a deposit for hourly engagements. Our fee is negoUable on a case-by-case basis at our discreUon. • Fixed Fee – We also offer our financial planning services on a fixed fee basis. The fixed rate will be based upon our current hourly billing rate mulUplied by the esUmated total number of hours required to complete the project. Engagements prior to 3/5/2013 may be under a pre-exisUng fee schedule. Further, Merit Financial Partners reserves the right (but is 2 not obligated) to assess a lower fee to its associates and related persons’ accounts maintained by the firm through its selected custodian. Merit Financial Partners Form ADV Part 2 – March 2026 Page 7 of 21  We may require a deposit for fixed fee engagements in the amount of $1,000 or one-half of the lower- end of the esUmated fee range. If services conUnue for more than 30 days, we may submit interim invoices on a monthly frequency, as outlined in our wri[en service agreement. Each interim invoice will reflect the services rendered during the preceding billing period. Interim invoices are due and payable upon receipt. The final balance of fees due are payable immediately upon our presentaUon of the plan or advice to you or your legal agent. Services to be provided and the esUmated fixed fee will be detailed in the wri[en service agreement. Our fee is negoUable on a case-by-case basis at our discreUon. Fees for Financial Planning Packages Financial Planning Package Fee/Fee Range Comprehensive Financial Plan $3,800 - $8,000 Financial Goal Plan $2,400 - $3,800 Fees for Investment Management Services Investment management services are billed as either a percentage of assets or a flat fee, calculated as a quarterly fee. Either you or our firm may request an adjustment to the investment management fee under certain circumstances. Common causes for such a review might include a change in your circumstances that require material adjustments to your financial plan and the reallocaUon of assets under our management or significant changes in assets brought into or withdrawn from your porLolio. Our management fee is up to 0.75% annually, billed quarterly in arrears based on the Client’s account(s) value as of the last business day of each quarter. Fees are negoUable. While there is no asset minimum for our investment management services program, there is a minimum annual fee of $4,000, which is payable in arrears in quarterly installments of $1,000. We may waive the minimum fee at our sole discreUon. The Client's specific fee will be set forth in the investment management agreement. Management fees are deducted directly from the Client's custodial account. Certain exisUng clients pay by invoice as a legacy arrangement, with payment due within in 14 days of receipt of our firm’s invoice. Clients under this engagement will be provided with an account statement reflecUng the deducUon of the management fee. If the account does not contain sufficient funds to pay management fees, we may sell or redeem securiUes to cover the amount due. Except in the case of ERISA and IRA accounts, a client may reimburse their account for management fees paid to the firm. In all instances, you will share responsibility for verifying the accuracy of fee calculaUons in your invoice and/or statement. Further informaUon about our fees in relaUonship to operaUonal pracUces with our custodian is noted in Item 12 of this document. Account ValuaUon For purposes of determining account asset values, securiUes and other investment instruments traded on a market in which actual transacUon prices are publicly reported will be valued at the last reported sale price on the principal market in which they are traded. If there are no sales on such date, then they will be determined by the mean between the closing bid and asked price on that date. Other readily marketable securiUes will be valued using a pricing service or through quotaUons from one or more inter-market dealers. In the absence of a market value, we may seek an independent third-party opinion or through a good faith determinaUon by a qualified associate of our firm. Merit Financial Partners Form ADV Part 2 – March 2026 Page 8 of 21  PotenUal AddiUonal Fees Specific product recommendaUons made by our firm usually involve “no-load” (i.e., no commission) products, if available, or low-load products. In some cases, such as with insurance, there may not be a suitable selecUon of no-load products available for recommendaUon; however, neither our firm nor our associates will be paid a commission on your purchase. Any transacUonal or custodial fees assessed by the selected service providers, individual reUrement account fees, or qualified reUrement plan account terminaUon fees are borne by you and are as provided in the current, separate fee schedule of the selected service provider. Fees paid to our firm for our services are separate from any charges you may pay for mutual funds, exchange-traded funds (ETFs), or other investments of this type. We do not receive “trailer” or SEC Rule 12b-1 fees from any investment company. Fees charged by these issuers are detailed in their prospectuses or product descripUons, and you are encouraged to read these documents before invesUng. Our firm and its associates receive none of these described or similar fees or charges. SeparaCon from Services Either party may terminate the agreement at any Ume, which will typically be in wriUng. Should you verbally noUfy our firm of the cessaUon of services and, if in two business days following this noUficaUon we have not received your noUce in wriUng, we may make a wri[en noUce of the terminaUon in our records and send you our own terminaUon noUce as a subsUtute. If you are a new client, you may terminate an agreement with our firm within five (5) business days aqer the signing of our engagement agreement without penalty or charge. Should you terminate an engagement aqer this date, you may be invoiced for any Ume charges incurred by our firm in the execuUon of the agreed-upon engagement. In the case of any prepaid fees, we will promptly return any unearned amount. For investment management services accounts, following terminaUon noUce, it will be yours or your legal representaUve’s responsibility to ensure a transfer is completed of any porLolio, account, or account residual to the receiving service provider. Our firm will not be responsible for future allocaUons, transacUonal services, or investment advice upon receipt of a terminaUon noUce. Other Services Fees: Tax PreparaUon Services Fees Tax PreparaUon Services fees are charged at our hourly rate of $550 per hour. Fees are based on the complexity of the client's tax situaUon, the volume of work, and the Ume required to complete the returns. Fees are negoUable on a case-by-case basis at our discreUon. Fees are billed upon compleUon. Comparable services may be available elsewhere for a lower fee. Investment management clients may separately authorize us to directly debit their investment management account with our custodian to pay this fee. Ongoing Planning Services Fees Ongoing Planning Services (formerly Ongoing Advisory Services) fees are based on our hourly rate of $475 per hour and may alternaUvely be charged as a fixed fee or subscripUon fee derived from that rate. Fees are based on the the complexity of the client's financial situaUon and the scope of work. Fees are negoUable on a case-by-case basis at our discreUon. Fees may be billed monthly or quarterly. All fees and services to be provided will be set forth in a wri[en agreement. Comparable services may be available elsewhere for a lower fee. These services do not include implementaUon of investment advice. Clients control their own accounts and may make trades with our guidance. Investment management is available as a separate service. Divorce Financial Analysis and Planning Services Fees Merit Financial Partners Form ADV Part 2 – March 2026 Page 9 of 21  Divorce Financial Analysis and Planning Services fees are charged at our hourly rate of $475 per hour or on a fixed fee basis. Fees are based on the complexity of the client's financial situaUon, the scope of work, and the Ume required to complete the engagement. Fees are negoUable on a case-by-case basis at our discreUon. All fees, services to be provided, and billing frequency will be set forth in a wri[en agreement. Comparable services may be available elsewhere for a lower fee. Item 6 - Performance-Based Fees and Side-By-Side Management Our fees will not be based upon a share of capital gains or capital appreciaUon (growth) of any porUon of managed funds, also known as “performance-based fees.” Merit Financial Partners does not use a performance- based fee structure because of the potenUal conflict of interest this type of fee structure may pose. Performance-based compensaUon may create an incenUve for a firm to recommend an investment that may carry a higher degree of risk to a client. Side-by-side management refers to a firm simultaneously managing accounts that do pay performance-based fees (such as a hedge fund) and those that do not; this type of arrangement, and the conflict of interest it may pose, is also not applicable to our firm’s pracUces. Item 7 - Types of Clients We provide our services to individual investors, trusts, estates, reUrement plans, and charitable organizaUons to assist them in meeUng their financial objecUves in what is believed to be a cost-effecUve way. Our ability to provide our service and advice depends on access to important informaUon. Accordingly, you are expected to provide us with an adequate level of informaUon and supporUng documentaUon throughout the term of the engagement, including but not limited to source of funds; income levels, your (or your legal agent’s) authority to act on behalf of the account, among other informaUon. This helps us determine the appropriateness of our financial planning or investment strategy for you and your account. It is very important that you keep us up to date on significant changes that may call for an update to your financial and investment plans. Events such as job changes, reUrement, change in marital status, or the purchase or sale of a home can have a tremendous impact on your circumstances and needs. If we are aware of such events, we can make the adjustments needed through changes to your plan or with more suitable advice to keep you on track toward your goals. We do not require minimum income levels, minimum level of assets, or other condiUons for our financial planning and investment consultaUon services; however, for our investment management services program, we require a minimum fee of $3,000 per year, paid in quarterly installments. Our firm reserves the right to waive or reduce certain fees based on unique individual circumstances, special arrangements, pre-exisUng relaUonships, or as otherwise may be determined by a firm principal. We also reserve the right to decline services to any prospecUve client for any reason. Merit Financial Partners Form ADV Part 2 – March 2026 Page 10 of 21  Item 8 - Methods of Analysis, Investment Strategies, and Risk of Loss Method of Analysis If we are engaged to provide investment consultaUon or investment supervisory services, we will first evaluate several factors, including your: • current financial situaUon • immediate, short-term, mid-term, and long-term needs • investment goals and objecUves • level of investment knowledge • tolerance for risk. To achieve this, we typically employ what we believe to be an appropriate blend of fundamental and technical analyses to develop long-term investment strategies. Fundamental analysis involves evaluaUng economic factors including interest rates, the current state of the economy, and future growth of an issuer or sector. Technical analysis may involve studying securiUes, markets, or economies as a whole to anUcipate likely future behaviors. By combining these analyses, the firm believes it may be able to be[er assist the client in determining the appropriate strategy that has been adapted to their requirements and goals. Our research and recommendaUons may be drawn from sources that include financial publicaUons; investment analysis and reporUng soqware; research materials from outside sources; corporate raUng services; annual reports, prospectuses, and other regulatory filings; and company press releases. We make asset allocaUon and investment policy decisions based on these and other factors. At the beginning of and throughout our engagement together, we will discuss with you how, in our best judgment, to meet your objecUves while at the same Ume seeking a prudent level of risk exposure. Investment Strategies Investment policy decisions are made, in our best judgment, to help you achieve your overall financial objecUves while minimizing risk exposure. We believe asset allocaUon is a key component of investment porLolio design, and that the appropriate allocaUon of assets across diverse investment categories (stock vs. bond, foreign vs. domesUc, large cap vs. small cap, etc.) is a primary determinant of porLolio returns and criUcal to the long-term success of an investor's financial objecUves. We generally use low-cost investments such as index mutual funds and ETFs whenever it is possible and reasonable to do so, though stocks, bonds, no-load acUvely managed mutual funds, closed-end funds, and other publicly traded securiUes also may be used to achieve this mix. Risk of Loss While we believe our strategies and investment recommendaUon are designed to potenUally produce the highest possible return for a given level of risk, we cannot guarantee that an investment objecUve or planning goal will be achieved. Past performance is not necessarily indicaUve of future results. Some investment decisions may result in loss, including potenUal loss of the original principal invested. Each client must be able to bear the various risks involved in the investment of account assets, which may include market, currency, interest rate, liquidity, and operaUonal or poliUcal risk, among others. When our research and analysis is based upon commercially available soqware, raUng services, general market and financial informaUon, or due diligence reviews, we are relying upon the accuracy and validity of the Merit Financial Partners Form ADV Part 2 – March 2026 Page 11 of 21  informaUon or capabiliUes being provided by selected vendors, raUng services, market data, and the issuers themselves. We make a reasonable effort to determine the accuracy of the informaUon received but we cannot predict events, acUons taken or not taken, or the validity of all informaUon researched or provided which may or may not affect the advice to a client or account. When a porLolio employs a passive, efficient markets theory, you will need to consider the potenUal risk that your broader allocaUon may generate lower-than-expected returns than that from a specific asset, and that the return on each type of asset is a deviaUon from the average return from the asset class. We believe this variance from the “expected return” is generally low under normal market condiUons if the porLolio is made up of diverse, non-correlated assets. If your preferred investment strategy involves more frequent trading, it may result in addiUonal transacUonal costs or create taxable events, and in some instances potenUally reducing or negaUng any benefit derived by shorter term invesUng. Investment vehicles such as ETFs and indexed funds have the potenUal to be affected by “tracking error risk,” which might be defined as a deviaUon from their stated benchmark (index). Since the core of a porLolio may a[empt to closely replicate a stated benchmark, the source of the tracking error or deviaUon may come from a “sample index” that may not closely align with the stated benchmark. In these instances, the firm may choose to reduce the weighUng of a holding or use a “replicate index” posiUon as part of its core holdings to minimize the effects of the tracking error in relaUon to the overall porLolio. Also, while many index funds and ETFs are known for their potenUal tax efficiency and higher “qualified dividend income” (QDI) percentages, there are certain asset classes or holding periods within a fund or ETF that may not benefit. Shorter holding periods or certain commodiUes and currencies (potenUally within the fund/ETF) may be considered nonqualified, therefore the investment’s QDI will be considered if tax efficiency is an important aspect of your porLolio. Workshop PresentaCons We may provide educaUonal workshops on an “as announced” basis for groups desiring general advice on investments and personal finance. Topics may include issues related to wealth management, financial planning, reUrement strategies, or various other economic and investment topics. Our workshops are educaUonal in nature and do not involve the sale of any investment. InformaUon presented will not be based on any one person’s need nor do we provide individualized investment advice to a[endees during an event general session. Item 9 - Disciplinary InformaCon Neither Merit Financial Partners nor any member of our firm’s management has been involved in a material criminal or civil acUon, administraUve enforcement, or self-regulatory organizaUon proceeding that would reflect upon our firm’s advisory business or the integrity of our firm. Merit Financial Partners Form ADV Part 2 – March 2026 Page 12 of 21  Item 10 - Other Financial Industry AcCviCes and AffiliaCons Our policies require our firm and its associates to conduct business acUviUes in a manner that avoid actual or potenUal conflicts of interest between the firm, its employees and clients, or that may be contrary to law. We will provide disclosure to each client prior to and throughout the term of an engagement regarding any conflicts of interest which might reasonably compromise our imparUality or independence. Investment advisor representaUves of Merit Financial Partners may be associated with and/or serve in control capaciUes of other registered investment advisors that are not affiliated with our firm. Under these arrangements, such representaUves are able to provide financial planning and investment consultaUon services to their own clients as a representaUve of the other firm; however, investment management services clients are engaged under an agreement through Merit Financial Partners. Therefore, certain clients may have more than one investment advisor (firm) relaUonship. RepresentaUves will at all Umes disclose, in advance of a transacUon or agreement, the capacity in which they are serving a client, to include the potenUal or actual conflict of interest the role or service may incur. Neither the firm nor any associate is affiliated with a bank, FINRA or NFA broker/dealer. Associates of the firm may hold individual membership or serve on commi[ees or boards of professional industry associaUons such as the NaUonal AssociaUon of Personal Financial Advisors (NAPFA), Financial Planning AssociaUon (FPA), or the CerUfied Financial Planner Board of Standards, Inc. Generally, parUcipaUon in any of these enUUes requires paying membership fees, adhering to ethical guidelines, as well as in meeUng experienUal and ongoing educaUonal requirements. Principal and Founding Partner Elizabeth Cox, CPA is individually licensed as a CPA with the ConnecUcut Board of Accountancy and is a member of the AICPA. CerUfied Public Accountants (CPAs) are licensed and regulated by their state boards of accountancy. While state laws and regulaUons vary, the educaUon, experience and tesUng requirements for licensure as a CPA generally include minimum college educaUon (typically 150 credit hours with at least a baccalaureate degree and a concentraUon in accounUng), minimum experience levels (most states require at least one year of experience providing services that involve the use of accounUng, a[est, compilaUon, management advisory, financial advisory, tax or consulUng skills, all of which must be achieved under the supervision of or verificaUon by a CPA), and successful passage of the Uniform CPA ExaminaUon. In order to maintain a CPA license, states generally require the compleUon of 40 hours of conUnuing professional educaUon (CPE) each year (or 80 hours over a two-year period or 120 hours over a three-year period). AddiUonally, all American InsUtute of CerUfied Public Accountants (AICPA) members are required to follow a rigorous Code of Professional Conduct which requires that they act with integrity, objecUvity, due care, competence, fully disclose any conflicts of interest (any obtain client consent if a conflict exists), maintain client confidenUality, disclose to the client any commission or referral fees, and serve the public interest when providing financial services. The vast majority of state boards of accountancy have adopted the AICPA’s Code of Professional Conduct within their state accountancy laws or have created their own. Merit Financial Partners Form ADV Part 2 – March 2026 Page 13 of 21  Item 11- Code of Ethics, ParCcipaCon or Interest in Client TransacCons and Personal Trading Code of Ethics We have adopted a Code of Ethics that establishes policies of ethical conduct for all our personnel. Our firm accepts the obligaUon not only to comply with all applicable laws and regulaUons but also to act in an ethical and professionally responsible manner in all professional services and acUviUes. Our policies include prohibiUons against insider trading, circulaUon of industry rumor, certain poliUcal contribuUons, among others. All associates are expected to adhere to the CerUfied Financial Planner Board of Standards Code of Ethics regardless of whether they are a CFP designee. These principles include Integrity, ObjecUvity, Competence, Fairness, ConfidenUality, Professionalism, and Diligence. A full explanaUon of these and other standards which we, as CFP designees follow, can be found at the CerUfied Financial Planning Board’s website at h[ps:// www.cfp.net/ethics/enforcement. AddiUonally, associates of our firm that are NAPFA adhere to the NAPFA Fiduciary Oath that states that: “The advisor shall exercise his/her best efforts to act in good faith and in the best interests of the client. The advisor shall provide wriIen disclosure to the client prior to the engagement of the advisor, and thereaKer throughout the term of the engagement, of any conflicts of interest, which will or reasonably may compromise the imparMality or independence of the advisor. The advisor, or any party in which the advisor has a financial interest, does not receive any compensaMon or other remuneraMon that is conMngent on any client's purchase or sale of a financial product. The advisor does not receive a fee or other compensaMon from another party based on the referral of a client or the client's business. Following the NAPFA Fiduciary Oath means I shall: * Always act in good faith and with candor. * Be proacMve in disclosing any conflicts of interest that may impact a client. * Not accept any referral fees or compensaMon conMngent upon the purchase or sale of a financial product.” We periodically review and amend our Code of Ethics to ensure that it remains current, and we require all firm access persons to a[est to their understanding of and adherence to the Code of Ethics at least annually. Our firm will provide of copy of its Code of Ethics to any client or prospecUve client upon request. Privacy Policy At Merit Financial Partners, we respect the personal financial privacy of all our clients and prospecUve clients, past and present. We realize you have entrusted us with personal financial informaUon, and it is important to us that all employees and clients of our firm know our policy concerning what we do with that informaUon. We collect personal financial informaUon about our clients from the following sources: • InformaUon our clients provide to us to complete their financial plan or investment recommendaUon; • InformaUon our clients provide to us in agreements, account applicaUons, and other documents completed in connecUon with the opening and maintenance of their accounts; • InformaUon our clients provide to us orally; and Merit Financial Partners Form ADV Part 2 – March 2026 Page 14 of 21  • InformaUon we may receive from third parUes, such as custodians, about client transacUons. We do not disclose nonpublic personal financial informaUon about our clients to anyone, except in the following circumstances: • When required to provide services our clients have requested; • When our clients have specifically authorized us to do so in wriCng; • When required during the course of a firm assessment (i.e., independent audit); or • When permi[ed or required by law (i.e., periodic regulatory examinaUon). Within our company, we restrict access to client informaUon to the employees who need to know that informaUon. To ensure security and confidenUality, we maintain physical, electronic, and procedural safeguards to protect the privacy of our clients. In addiUon, all employees and officers understand that everything handled in our firm’s office is private and confidenUal. Nothing about our clients is to be discussed outside our offices with family, friends, or other clients; within the office, employees only discuss what is needed to complete the task. Most importantly, they are instructed to not discuss a client’s situaUon with someone else that may request informaUon about an account unless they are specifically authorized in wriUng by the client to do so. This includes, for example, providing informaUon to a husband on his wife’s IRA account, informing a son or daughter about their mom or dad’s accounts, etc. We will noUfy you annually of our privacy policy and at any Ume, in advance, if our policy is expected to change. ParUcipaUon or Interest in Client TransacUons Neither our firm nor it’s associates or any related person is authorized to recommend to a client, or effect a transacUon for a client, involving any security in which our firm or a related person has a material financial interest, such as in the capacity as an underwriter, advisor to the issuer, etc. Our employees are prohibited from borrowing from or lending to a client other than a relaUve unless the client is an approved financial insUtuUon. We recognize that should we act as the advisor to the sponsor of an ERISA-qualified reUrement plan (i.e., 401(k) or pension plan) and one of our associates serves in an advisory capacity to one or more of the plan’s parUcipants, a potenUal or implied conflict of interest may occur. We may require our associate to cease in this plan parUcipant advisory capacity or, upon disclosure to and approval from the plan sponsor, allow the dual advisory role to conUnue with consideraUon being made to offset fees where appropriate. Our firm provides a range of services to you and all our clients, which includes financial planning, investment consultaUon services, and investment supervisory services where we are paid a fee. Due to our firm’s ability to offer one or more of these services to you, a potenUal conflict of interest may exist. Therefore, you are under no obligaUon to act upon our recommendaUons and, if you elect to act on any of our recommendaUons, you are under no obligaUon to complete all of them through our firm. Personal Trading Our firm does not trade for its own account (e.g. proprietary account trading). Firm “related persons” may buy or sell securiUes for their own personal accounts similar to, or different from, those we recommend to clients for their accounts. A recommendaUon made to one client may be different in nature or in Uming from a recommendaUon made to a different client. At no Ume, however, will our firm or any related party receive preferenUal treatment over our clients. Merit Financial Partners Form ADV Part 2 – March 2026 Page 15 of 21  In an effort to reduce or eliminate certain conflicts of interest involving personal trading (such as trading ahead of a client order), our policy may require that we restrict or prohibit associates’ transacUons in specific reportable securiUes transacUons. Any excepUons or trading pre-clearance must be approved by a principal of our firm in advance of the transacUon in an account, and we will maintain the required personal securiUes transacUon records per current regulaUon. Item 12 - Brokerage PracCces Merit Financial Partners is not affiliated with any bank, custodian, or broker-dealer firm (“service provider”). When engaged to provide investment management services, we typically use the custodial services of the insUtuUonal services division of Charles Schwab &Co., Inc. ("Schwab"). Schwab will hold your assets in an account in your name and will buy and sell securiUes when we instruct them. While we recommend that you use Schwab as your service provider, you must decide which service provider to use and your account will be entered into via an account agreement directly with that firm. We technically do not open the account for you, although we will assist you in doing so. The insUtuUonal plaLorm services that Schwab provides us includes, among others, brokerage, custody, and other related services. Schwab’s services that assist us in managing and administering our clients' accounts include soqware and other technology that: • provide access to client account data (such as trade confirmaUons and account statements); • facilitate trade execuUon and allocate aggregated trade orders for mulUple client accounts; • provide limited research, securiUes pricing, and other market data; • facilitate payment of fees from client accounts; • online document storage of client accounts held at Schwab; and • assist with certain back-office funcUons, recordkeeping and client reporUng. Schwab also offers other services intended to help the firm manage and further develop its advisory pracUce. Such services include, but are not limited to, performance reporUng, industry publicaUons, access to educaUonal conferences and webinars, access to other third-party service providers that provide a wide array of business- related services and technology with whom the firm may directly contract. Many of Schwab’s services are generally available on an unsolicited basis (we don’t have to request them) and at no charge to us as long as our advisory firm maintains client account assets with their firm. We are not required to maintain a collecUve minimum asset level; however, Schwab may charge accountholders transacUon-related fees for certain securiUes trades executed through them. Schwab provides our firm with certain brokerage and research products and services that may qualify as "brokerage or research services" under SecUon 28(e) of the SecuriUes Exchange Act of 1934 or similar state statute. The availability of these services benefits us because we do not have to separately produce or purchase them. We do not have to pay for these services as long as our clients maintain assets in accounts with Schwab. Beyond that, these services are not conUngent upon us commixng any specific amount of business to Schwab in trading commissions or assets in custody. This is a potenUal conflict of interest, but we believe our selecUon of Schwab as custodian is in the best interests of our clients. Our selecUon is primarily supported by the scope, quality, and price of Schwab’s services and not their services that benefit only us. We periodically conduct an assessment of any service provider we recommend, including Schwab, which generally includes a review of their range of services, reasonableness of fees, among other items, and in comparison to their industry peers. Merit Financial Partners Form ADV Part 2 – March 2026 Page 16 of 21  Best ExecuUon “Best execuUon” means the most favorable terms for a transacUon based on all relevant factors, including those listed in the previous secUon. We recognize our obligaUon in seeking “best execuUon” for our clients; however, it is our belief that the determinaUve factor is not always the lowest possible cost but whether the selected service provider's transacUons represent the best “qualitaUve” execuUon while taking into consideraUon the full range of services provided. Therefore, we will seek services involving compeUUve rates, but it may not necessarily result in the lowest possible rate for each transacUon. We have determined that having Schwab execute our trades is consistent with our duty to seek “best execuUon.” We periodically review policies regarding our recommending service providers to our clients in light of our duty to seek "best execuUon." Client Referrals All compensaUon paid to our firm is paid directly by our clients and, therefore, we do not receive addiUonal compensaUon when you engage a recommended service provider. Directed Brokerage We do not require or engage in directed brokerage involving our accounts. As our client, you may direct our firm (in wriUng) to use another parUcular broker-dealer to execute some or all transacUons for your account. In these circumstances, you will be responsible for negoUaUng, in advance, the terms and/or arrangements for your account with your selected broker-dealer. We will not be obligated to seek be[er execuUon services or prices from these other broker-dealers, or be able to aggregate your transacUons, should we choose to do so, for execuUon through other custodians with orders for other accounts managed by our firm. As a result, you may pay higher commissions or other transacUon costs, experience greater spreads, or receive less favorable net prices, on transacUons for your account than would otherwise be the case. Further, pursuant to our obligaUon of best execuUon, we may decline a request to direct brokerage if we believe any directed brokerage arrangement would result in addiUonal operaUonal difficulUes or risk to our firm. Trade AggregaUon TransacUons for each of our clients will generally be effected independently unless we decide to purchase or sell the same securiUes for several clients at approximately the same Ume, oqen termed “aggregated” or “batched” orders. We do not receive any addiUonal compensaUon or remuneraUon as a result of aggregated transacUons. We may (but are not obligated to) aggregate orders in an a[empt to obtain be[er execuUon, negoUate favorable transacUon rates, or to allocate equitably among our client accounts should there be differences in prices and commissions or other transacUon costs that might have been obtained had such orders been separately placed. Should we aggregate orders, transacUons will generally be averaged as to price and allocated among each client on a pro-rated basis on any given day and we will a[empt to do so in accordance with applicable industry rules. Client accounts where trade aggregaUon is not allowed or infeasible may be assessed higher transacUon costs than those that are batched. We review both our trade aggregaUon procedures and allocaUon processes on a periodic basis to ensure they remain within stated policies and regulaUon. We will inform you, in advance, should our trade aggregaUon and allocaUon pracUces change at any point in the future. Merit Financial Partners Form ADV Part 2 – March 2026 Page 17 of 21  Item 13 - Review of Accounts Financial Planning and Investment Consulta=on Services Periodic financial check-ups or reviews are recommended for clients receiving financial planning and investment consultaUon services, and it is the client's responsibility to iniUate these reviews. A good rule-of-thumb for future visits is annually or as material changes occur in your financial situaUon (i.e., loss of a job, reUrement, receipt of a significant bonus, an inheritance, the birth of a new child, or other circumstances). Reviews will be conducted by the assigned financial advisor and normally involve analysis and possible revision of a previous financial plan or investment allocaUon. PorLolio "snapshot" reports may be provided when our firm is engaged to provide asset allocaUon or investment advice as part of its Investment ConsultaUon Service; however, we will not provide ongoing performance reporUng under this engagement. Divorce Financial Analysis and Planning Services – Engagements under our Divorce Financial Analysis and Planning Services are considered incidental advice, or one-Ume in nature, and end aqer advice or an assessment has been delivered. No subsequent reviews are offered. Investment Management Services Accounts are periodically reviewed throughout the year by the assigned investment advisor representaUve, supervisory personnel, or a qualified independent enUty engaged by our firm. A change in the asset allocaUon strategy for a client account or an “out-of-balance” situaUon may trigger addiUonal reviews or account rebalancing. We also prefer that our clients meet with their investment advisor representaUve to conduct a review of their account at least annually and more oqen if deemed necessary or desirable. Clients are provided periodic performance summary reports and annual realized gains/loss reports for taxable accounts. Some of our clients may receive addiUonal reports depending on their specific requirements. Our clients will also receive account statements sent directly from mutual fund companies, transfer agents, custodians, or brokerage companies where their investments are maintained. Clients should review these account statements carefully and compare them to any reports provided by Merit Financial Partners. Item 14 - Client Referrals and Other CompensaCon We do not engage in solicitaUon acUviUes as defined by statute. As noted earlier, Merit Financial Partners, LLC and its associates may be members of FPA, NAPFA or other professional associaUons. A benefit these enUUes may provide to the invesUng public is the availability of online search tools that allow interested parUes (prospecUve clients) to search for parUcipant firms or individual financial planners within a selected state or region. A porUon of our membership fees may be used so that our name will be listed in some or all of these enUUes’ websites (or other lisUngs). Merit Financial Partners Form ADV Part 2 – March 2026 Page 18 of 21  These passive websites may provide means for interested persons to contact a firm or financial planner via electronic mail, telephone number, or other contact informaUon, in order to interview the parUcipaUng firm or planner. Members of the public may also choose to telephone associaUon staff to inquire about a firm or individual planner within their area, and they would receive the same or similar informaUon. ProspecUve clients locaUng our firm or one of our associates via this method are not acUvely marketed by these associaUons. Clients who find us in this way do not pay more for their services than clients referred to us in another fashion, such as by another client. We do not pay these enUUes for prospecUve client referrals, nor is there a fee-sharing arrangement reflecUve of a solicitor engagement. 3 We may provide referrals to various other professionals, such as an a[orney, as a service to our clients. We do not have an agreement with or receive referral fees from these professionals for these informal referrals. Any fees charged by these other enUUes for their services are completely separate from fees charged by Merit Financial Partners. Item 15 - Custody Your funds and securiUes will be maintained by an unaffiliated, qualified custodian that you select, such as a bank, broker/dealer, mutual fund company, or transfer agent – not with our firm or our associates. In keeping with our policy of not having physical custody of client funds or securiUes, we: • Restrict our firm and associates from acUng as trustee for or having general power of a[orney over a client account; • Are prohibited from having authority to directly withdraw securiUes or money from a client account, other than for payment of our management fees, and with separate wri[en authorizaUon from the Client, fees for addiUonal services performed including financial planning and tax preparaUon, that is accomplished through a qualified custodian and pursuant a wri[en agreement (termed “construcUve custody”); • Do not accept or forward client securiUes (i.e., stock cerUficates) erroneously delivered to our firm; • Will not collect advance fees for our advisory services to be performed more than six months in advance; and • Will not authorize any associate to have knowledge of a client’s account access informaUon (i.e., online 401(k), brokerage or bank accounts), even for the convenience or accommodaUon of the client or their legal agent. Standing Le[ers of AuthorizaUon (SLOAs) Our firm may direct transfers of client funds to third parUes pursuant to standing le[ers of authorizaUon established by clients with their qualified custodian(s). This authority is deemed to consUtute custody under SEC Rule 206(4)-2. In reliance on the SEC Division of Investment Management's no-acUon le[er dated February 21, 2017, our firm, in conjuncUon with our qualified custodian, has adopted and complies with all seven safeguards specified therein in lieu of obtaining an annual surprise examinaUon. Account Statements and Reports You will be provided with transacUon confirmaUons and summary account statements provided directly to you by your selected service provider. Typically, these statements are provided on a monthly or quarterly basis, or as transacUons occur. You should review these statements carefully. We will not create a statement for you nor be the sole recipient of your account statements. The firm believes this arrangement is in consonance with SEC No-AcUon Le[er No. 1251421 in its response to the NaUonal Football 3 League Players AssociaUon. Merit Financial Partners Form ADV Part 2 – March 2026 Page 19 of 21  You may receive periodic reports or “snapshots” from our firm that may include investment performance informaUon. You are urged to compare your account statements that you have received directly from your service provider with any report you receive from our firm. Item 16 - Investment DiscreCon For our investment management services, our firm manages accounts on a discreUonary basis. Aqer the Client signs an investment management agreement with our firm and provides a limited power of a[orney as may be required by our Custodian, we are authorized to buy and sell investments in Client’s account without asking them in advance. We require all account restricUons, limitaUons, and rescissions to be made in wriUng by our clients and approved in wriUng by us. We will maintain a record of these requests and they will be retained per regulaUon. Item 17 - VoCng Client SecuriCes Proxy VoUng Our firm does not vote proxies on your behalf, nor do we offer guidance on the voUng of client proxies. You will maintain exclusive responsibility for direcUng the manner in which proxies solicited by issuers of securiUes that are beneficially owned by you shall be voted, as well as making all other elecUons relaUve to mergers, acquisiUons, tender offers, or other events pertaining to your holdings. Other Corporate AcUons We will have no power, authority, responsibility, or obligaUon to take any acUon with regard to any claim or potenUal claim in any bankruptcy proceeding, class acUon securiUes liUgaUon or other liUgaUon or proceeding relaUng to securiUes held at any Ume in a client account, including, without limitaUon, to file proofs of claim or other documents related to such proceeding, or to invesUgate, iniUate, supervise or monitor class acUon or other liUgaUon involving client assets. Receipt of Materials You may receive proxies or other solicitaUons directly from your selected custodian or transfer agent. If our firm receives correspondence relaUng to the voUng of your securiUes, class acUon liUgaUon, or other corporate acUons, we typically forward the correspondence to your address of record or to another enUty such as your a[orney if you direct us to do so. Item 18 - Financial InformaCon Balance Sheet Our firm will not take physical custody of your assets. Management fee withdrawals must be done through your custodian of record with your prior wri[en approval and following your receipt of our wri[en noUce ("construcUve custody"). Our engagements do not require that we collect fees from you of $1,200 or more for our advisory services we will perform six months or more in advance. Neither our firm nor its management serves as general partner for a partnership or trustee for a trust in which the firm's advisory clients are either partners of the partnership or beneficiaries of the trust. Due to the nature of our firm's services and operaUonal pracUces, an audited balance sheet is not required by statute nor included in this brochure. Merit Financial Partners Form ADV Part 2 – March 2026 Page 20 of 21  Financial CondiUons Reasonably Likely to Impair Advisory Firm's Ability to Meet Commitments to Clients The firm and its management do not have a financial condiUon likely to impair our ability to meet our commitment to our clients. The firm and its management have not been the subject of a bankruptcy peUUon at any Ume during the past 10 years. Merit Financial Partners Form ADV Part 2 – March 2026 Page 21 of 21