Paratus Wealth Management, LLC

CRD#137103
Investment Advisor Firm

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Overview

Paratus Wealth Management, LLC is a financial advisor firm headquartered in Minneapolis, Minnesota. It handles $18.4 million in assets under management throughout 111 accounts. The company has a small team of two employees, including one financial advisor. Paratus Wealth Management, LLC does not act as a registered broker-dealer, signifying that the advisor cannot buy and sell securities for its accounts and those of its clients and instead has to go through a broker-dealer firm to do so. Securities are tradable fiscal investments like options, equities and bonds.

Paratus Wealth Management, LLC manages 109 of the company's client assets in a discretionary manner. Discretionary management is a structure in which a portfolio manager makes transaction choices for the client's account without needing to seek the client's consent. The firm also oversees two non-discretionary accounts totaling $6,000 in assets under management. Paratus Wealth Management, LLC's average account size is $165,315. $1,000,001 to $2,500,000 of their investments for financial planning services were in securities, with $500,001 to $1,000,000 placed in non-securities. The typical financial advisor at Paratus Wealth Management, LLC oversees about 111 client accounts.

Paratus Wealth Management, LLC's central office is located at 10800 Lyndale Avenue South, Minneapolis, Minnesota 55420. The company is legally allowed to serve investors across a number of states, including Minnesota and South Carolina.

Number of Advisors

1

Disclosures

No

Office Location

10800 Lyndale Avenue South
Minneapolis, MN 55420

Paratus Wealth Management, LLC by the Numbers

Total Number of Employees

2

National Average: 4,943
Total Number of Accounts

111

National Average: 2,522
Average Account Size

$165.3 thousand

National Average: $1.3 million

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Products and Services

Paratus Wealth Management, LLC provides a variety of financial services, which can include financial planning services, portfolio management for individuals and small businesses and selection of other advisers. In the prior financial year, Paratus Wealth Management, LLC provided financial planning services to 1-10 of its clients. The firm is involved in selling products or offering services apart from investment advice to its customers. Paratus Wealth Management, LLC also has a number of financial industry affiliations, including with an accountant or accounting firm and insurance company or agency.

Core Advisor Services

  • Offered by 45% 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 63% of firms

    Portfolio Management

    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.

Other Services

  • Offered by 23% of firms

    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.

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    Educational Seminars/Workshops

    This is the hosting of seminars or workshops to educate investors on financial concepts.

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Fee Structure

A financial advisor's fees largely are based on which service is provided. However, fee types charged by the firm likely consist of any combination of the following fee structures: asset-based, hourly or fixed. Paratus Wealth Management, LLC does not provide a wrap fee program, in which the firm offers a bundle of services for a single fee. It has the ability to withdraw its fees directly from customer accounts.

Available

  • Offered by 75% of firms

    Percentage of Assets

    Show 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 37% of firms

    Hourly

    Show Explanation

    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.

  • Offered by 40% of firms

    Fixed

    Show Explanation

    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.

Unavailable

  • Find one of the 3% of firms that offer this fee type

    Commissions

    Show Explanation

    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.

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    Performance-based

    Show Explanation

    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 1% of firms that offer this fee type

    Subscription

    Show Explanation

    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.

  • Find one of the 12% of firms that offer this fee type

    Other

    Show Explanation

    Firms can sometimes charge customers using non-traditional fee structures. See this firm's Form ADV for more details.

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Types of Clients

Paratus Wealth Management, LLC works with retail investors and high net worth investors. Out of its 111 customers, Paratus Wealth Management, LLC's biggest client type is retail investors, but it also caters to five high-net-worth individuals. A high-net-worth individual is defined by the SEC as a person who has at least $750,000 under management or a net worth of more than $1.50 million or who counts as a "qualified purchaser" (a standard met by having at least $5 million in investments). None of the company's clients are represented by people from outside of the U.S.

  • High-Net-Worth Individuals* - 8.93%
  • Other Individuals - 91.07%
  • 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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Disclosures

Paratus Wealth Management, LLC does not have any disclosures.

Please visit its Form ADV for more details.

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This content was compiled from the SEC and FINRA