Paragon Wealth Strategies, LLC
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Learn more about Paragon Wealth Strategies, LLC
Paragon Wealth Strategies, LLC is a financial advisory firm located in Jacksonville, Florida. The firm handles $456.3 million in assets under management throughout 1,501 client accounts, making it one of the bigger firms in the country by assets under management (AUM). The company has a small group, including 8 financial advisors. Paragon Wealth Strategies, LLC does not act as a registered broker-dealer, signifying that the advisor is not able to buy and sell securities for its clients' and own accounts and instead must go through a broker-dealer company to do so. Securities are tradable fiscal assets such as bonds, equities and options.
Paragon Wealth Strategies, LLC administers the majority of the firm's client assets in a discretionary manner. Discretionary management means that a portfolio manager makes transaction choices without needing client permission. Paragon Wealth Strategies, LLC also manages 30 non-discretionary accounts totaling $10.3 million in assets. The investment advisory firm manages about $303,996 in assets for every account. An average financial advisor at Paragon Wealth Strategies, LLC oversees around 188 client accounts.
The company's headquarters is located at 10245 Centurion Pkwy N., Jacksonville, Florida 32256. The company is legally allowed to provide services to investors across a few states, including California, Florida, Georgia, Nevada, New Hampshire, North Carolina, Ohio, South Carolina, Texas and Virginia.
Assets Under Management
Number of Advisors
Paragon Wealth Strategies, LLC by the Numbers
Products and Services
Paragon Wealth Strategies, LLC provides multiple services, which can include financial planning services, portfolio management for individuals and small businesses and educational seminars. In the past fiscal year, the company provided 251-500 of its accounts with financial planning services. The company is not involved in selling products or offering services other than investment advice to its investment advisory customers.
Core Advisor Services
Offered by 31% of firms
Financial Planning Services
This is the process of planning for your financial future, including for events such as retirement, your child's college education or estate succession.
Offered by 46% of firms
This is the selection and management of an investment mix and portfolio strategy for individuals and small businesses.
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Market Timing Services
This is the practice of attempting to make short-term profits on investments by buying low and selling high.
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Selection of Other Advisors
This is the firm's assistance with choosing other advisors to work with who may have different specialties.
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Publication of Periodicals
This is the publication of various financial education materials.
Offered by 6% of firms
This is the hosting of seminars or workshops to educate investors on financial concepts.
Fees for financial advisory services typically vary depending on which services the firm provides the client. Fees charged by the company likely are comprised of some blend of the following fee types: asset-based, fixed or other. The firm does not participate in a wrap fee program, in which the firm offers a bundle of services for a single fee.
Offered by 69% of firms
Percentage of AssetsShow Explanation
This fee, which is the most common fee type charged by advisors for portfolio management, is based on the amount of assets you have under management. Also referred to as an asset-based fee, this fee typically ranges from 0.50%-2.00% of AUM annually. You'll typically pay a lower rate the more assets you have under management.
Offered by 32% of firms
Fixed fees are a one-time, lump sum charged for a specific service, like the creation of a financial plan without subsequent implementation. This can be useful if you only need advice for one specific purpose, rather than a long-term advisor. Fixed fees usually range from $1,000 to $3,000.
Offered by 10% of firms
Firms can sometimes charge customers using non-traditional fee structures. See this firm's Form ADV for more details.
Find one of the 21% of firms that offer this fee type
Like a lawyer, a financial advisor may charge you by the hour. This can be helpful if you are only looking for short-term or one-time advice. Rates typically range from $100-$300 per hour, depending on the complexity and level of services needed.
Find one of the 1% of firms that offer this fee type
Occasionally, advisors earn commissions from selling financial products, such as securities or insurance policies, or making certain referrals or transactions. Advisors who earn commissions may be incentivized to make certain recommendations to clients in order to make a commission. Fee-only advisors do not earn commissions, while fee-based advisors may.
Find one of the 26% of firms that offer this fee type
Advisors only earn performance-based fees if a portfolio outperforms a defined benchmark. This fee may be calculated in a number of ways but most commonly is charged as a percentage of investment profits. Performance-based fees may incentivize advisors to make riskier decisions in order to generate higher returns.
Find one of the 0% of firms that offer this fee type
Firms generally charge this fee for educational materials provided, such as a monthly magazine. This can be useful if you want to learn about investing or financial management on your own.
Types of Clients
Paragon Wealth Strategies, LLC provides services to retail investors and high net worth investors. Out of its 1,501 clients, Paragon Wealth Strategies, LLC's largest client is retail investors, but it also caters to 146 high-net-worth individuals. A high-net-worth individual is defined by the SEC as an investor who has at least $750,000 in AUM or a net worth of at least $1.50 million or who is considered a "qualified purchaser" (a standard met by having at least $5 million in investments). None of the company's accounts reside abroad.
- High-Net-Worth Individuals* - 34.11%
- Other Individuals - 65.89%
- Corporations - 0%
- Charitable Organizations - 0%
* The U.S. Securities and Exchange Commission (SEC) defines a high-net-worth individual as someone who has at least $750,000 under management.
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Paragon Wealth Strategies, LLC does not have any disclosures.
Please visit its Form ADV for more details.
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