Paragon Wealth Strategies, LLC. (Jacksonville)

Name: Paragon Wealth Strategies, LLC.
Address: 10245 Centurion Pkwy N., Jacksonville, FL, 32256
Telephone: 904-861-0093

Paragon Wealth Strategies, LLC. is a large advisory firm based in Jacksonville. It manages $293.89 million of regulatory assets for 296 client accounts. It has been registered with the SEC as an adviser since 2008 and has operated in the jurisdictions of Florida, Georgia, New Hampshire, and 3 other states.

Paragon Wealth Strategies provides financial planning services and portfolio management for individuals and small businesses. It prepares financial plans for more than 100 clients. On top of advisory services, the firm doesn't engage in other business activities.

Paragon Wealth Strategies: assets under management

The assets under management (AUM) of Paragon Wealth Strategies, LLC. is $293.89 million. The firm's AUM has grown by 616% since the beginning of its operation, and $4.7 million of the total AUM is attributable to clients outside of the United States.

The firm manages $283.2 million in discretionary accounts and $10.69 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $1.04 million each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $445.52 thousand.

Paragon Wealth Strategies has custody of $130.06 million in cash and securities for 132 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 65% of the total AUM. The second-largest asset type is investment and business development companies, which make up 26% of the firm’s portfolio. Investments in investment grade corporate bonds form 5% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Paragon Wealth Strategies, LLC. for their services and products based on a percentage of assets under management and fixed fees. Compensation based on assets under management promotes a long-term relationship between a client and the adviser and helps align mutual interests. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Paragon Wealth Strategies serves?

The firm provides services to individuals, high net worth individuals, and corporations or other businesses. The largest group of clients of Paragon Wealth Strategies is high net worth individuals with 120 clients and $218.35 million of assets under management. Among the 7 most similar advisory firms, Paragon Wealth Strategies has the highest percentage of high net worth individuals out of all clients.

The amount of regulatory assets under management is $293.89 million for 273 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. 1% of the firm’s clients are foreign persons or businesses.

Paragon Wealth Strategies doesn't advise any private funds.

Careers at Paragon Wealth Strategies, LLC.

The company employs 7 people that are either part- or full-time employees. 71 percent of the employees work as investment advisers or researchers. 5 employees are registered as investment adviser representatives with the state securities authorities.

There isn’t anyone with the role of looking for and bringing in new clients on behalf of the firm. The firm doesn’t compensate employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Jonathan Neal Castle	Member/manager	1 Mar 2008	50% - 75%	2648199
Michelle Lynne Ash	Chief compliance officer/member/manager	1 Mar 2008	25% - 50%	4561598
Karen L Rasmussen	Member	1 Apr 2014	Other	6324521
Karen L Rasmussen	Member	1 Apr 2015	Other	6324521

Based in Jacksonville

The principal office where Paragon Wealth Strategies, LLC. performs its advisory services is located at 10245 Centurion Pkwy N., Jacksonville, FL 32256, which is also the mailing address of the firm. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 904-861-0093 or by fax 904-861-0098. The normal business hours are 9am - 5pm on Monday - Friday. You can find more information about the New York firm at wealthguards.com.