With the complimentary review program Paragon is trying to assist investors understand how to be invested in a volatile stock market.
Under the new program, investors will get a second opinion and analysis on their accounts going down after a market sell off, says Dave Young, president and founder of Paragon Wealth Management.
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The review is provided in person or over the phone. The wealth managers will first try to understand the investor’s investment risk tolerance, goals and objectives and only then will they assess if his/her portfolio is aligned with them.
"The number one mistake I see with investor’s portfolios is their portfolio is not aligned with their risk tolerance," said Young.
Another aspect the wealth managers will look at for is any costly mistakes in the portfolio and the investor will have an opportunity to discuss any concerns or questions with the advisor.
"I also see that the cost within investors’ portfolios is higher than what it needs to be, and people are spending more on their investments than they need to. For example, some investors have annuities within IRA’s, which is a costly mistake. Our portfolio reviews are designed to help investors resolve these issues and have confidence in their portfolios," added Young.
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