Paragon Capital Management Inc. is among the first firms in the United States to be given permission to use the new "fee-only" certification mark designed to reduce consumer confusion about the identity of true fee-only financial advisers.
Fee-only financial advisers are compensated strictly by their clients, rather than through commissions or other incentive arrangements.Paragon Capital Management has been given permission to use the fee-only certification mark by the National Association of Personal Financial Advisors, the only national organization of fee-only planners.
"I am excited to have this opportunity to make it clear to area consumers who we are and how we do business," said David Young, president of the company. "While some consumers may be unconcerned about conflicts of interest arising from getting their financial advice from individuals who are also selling products, there are many who want to be sure that they are dealing with someone who really is fee-only. The new certification mark will be a real help for consumers who want to get conflict-free advice."