Elaine Scoggins

Merriman Berkman Next (MBN) employs an investment philosophy called global diversification. The firm uses low cost, tax-efficient, no-load mutual funds and ETFs in a variety of asset classes to build globally diversified portfolios that reduce risk. They do not rely on forecasts or predictions, buy stocks of individual companies or make emotionally driven investment decisions. MBN offers two investment programs: the Merriman Buy-and-Hold program and the Merriman Active Risk Management program. They also manage the Leveraged Global Opportunity Fund LP. The Merriman Buy-and-Hold program is suitable for investors seeking long-term growth in a tax-efficient portfolio. The program is based on global equity diversification across a range of asset classes, using mutual funds to create a sophisticated asset allocation model. The firm chooses specific proportions of asset classes, tilting moderately toward small company and value funds. They use bond funds to reduce the ups and downs of stock market volatility. By adjusting the balance of the equity and bond portions of the portfolio, MBN can address any level of risk, from conservative to aggressive. Accounts are periodically rebalanced to maintain the appropriate portfolio weights by selling assets in the classes that have done well and buying assets in those that have not. MBN uses equity mutual funds from Dimensional Fund Advisors (DFA) and bond funds from DFA and Vanguard. The Merriman Buy-and-Hold program is well-suited to taxable accounts and qualified retirement plans. In addition, MBN uses tax-managed funds and municipal bonds in taxable accounts for even greater tax efficiency. The Merriman Global Diversification Program (GDP) is a disciplined active risk management investment approach that seeks attractive returns for risk-averse investors. The program uses a combination of trend-following timing systems and a broad range of asset class mutual funds and ETFs to reduce risk. The firm does not rely on predictions of market activity. Rather, they identify existing market trends and attempt to time the market. On a daily basis, MBN updates their market timing and fund timing systems, scanning thousands of mutual funds and ETFs for buy and sell signals. If their timing system for a mutual find or ETF in an asset class gives them a sell signal, that portion of the portfolio is invested in a money market fund. Each asset class in the portfolio is timed independently. MBN also manages the Leveraged Global Opportunity Fund LP (LGO), a hedge fund that is available for high net-worth clients who are able to tolerate above-average risks to seek unusually high returns. The program applies mechanical trend-following timing systems and leverage to a broad range of asset classes, with exposure to stock, bond, commodity and currency markets around the world. The firm's Fidelity Sector Program (FSP) invests exclusively in Fidelity mutual funds, including sector funds, which are chosen based on current relative strength rankings. Each month MBN updates the program with the four top-ranked sector funds. It is an aggressive program, so a client's allocation is typically limited to about 10% or less of their total portfolio and since it is tax-inefficient, it is best implemented in an IRA.

Merriman seeks to construct well-balanced and globally diversified portfolios based on academic research, with the goal of providing investors with superior risk-adjusted returns. The firm’s two core investment products primarily use mutual funds and exchange-traded funds (ETFs) to help clients achieve their investment objectives.

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Provides brokerage services