DFX Intelligence
RIA Intelligence
Registered investment advisers, the advisors registered through them, the capital they report, the private vehicles they run and the people who own them, as a graph with a filing date behind every number. RAUM is what the adviser filed, a move is two registration dates, and a class is a rule you can read.
SEC-registered adviser
Paragon Capital Management
Latest filing Mar 24, 2026
First filing on the tape Mar 23, 2012 · 29 filings
SEC status approved since Mar 23, 1990
RAUM
$1.3B
reported, Item 5.F
Discretionary
89%
of RAUM
Private clients
100%
$1.3B individuals and HNW
Advisors
5
registered through the firm on IAPD
RAUM per advisor
$263M
derived; firm RAUM over IAPD count
Employees
6
5 advisory (5.B.1)
Offices
0
beyond the principal office
Private funds
0
reported on Schedule D
History
29 filings and snapshots on the tape
RAUM$1.3B as of Mar 24, 2026
Mar 23, 2012$605M then
HNW client RAUM$1.3B as of Mar 24, 2026
Mar 23, 2018$804M then
State-registered IARs (5.B.3)5 as of Mar 24, 2026
Mar 23, 20120 then
Employees (5.A)6 as of Mar 24, 2026
Mar 20, 20136 then
Private funds1 as of Mar 16, 2015
Mar 23, 20122 then
RAUM +5.4% over the last fiscal year+9.5% a year over threeIARs 4 to 5
Practice profile
derived from the filing of Mar 24, 2026; every figure names its basis
Archetypes, each a printed rule
- Independent boutique · a wealth manager with no broker-dealer, bank or insurance affiliate, 2 to 25 advisors, one to three offices, no public reporting company control
- RAUM per advisor
- $263MderivedRAUM over IAPD advisors; not a book size
- Clients per advisor
- 37derivedindividual and HNW clients (5.D) over advisors
- Average HNW client
- $9.2MderivedHNW RAUM over HNW clients
- Average account
- $1.3MderivedRAUM over accounts (5.F.2.f)
- Discretionary
- 89%derivedof RAUM
- Institutional
- 0.2%derivedpensions, charities, corporations, government, insurance, banks, other advisers
- Employees per advisor
- 1.2derivedItem 5.A over advisors
- Advisors per office
- 5.0derived1 offices incl. principal (1.F.5)
- RAUM growth, one year
- +5.4%derivedbetween the last two annual amendments
- Advisor growth, one year
- +25%derivedItem 5.B.3 between annual amendments
- Client growth, one year
- +1.6%derived
- Compensation
- percentage of assets, hourly, fixed feesreportedItem 5.E
- Advisory activities
- financial planning, portfolio management for individuals, selection of other advisersreportedItem 5.G
- Custody
- $285M, 176 clientsreportedItem 9.A
- Ownership
- no PE, bank or public-company owner found on Schedule Aderived
- Advisor book size
- not public; not estimatedreported
Also answered yes on Form ADV
- buys or sells securities as principal to or from clients (8.A.2)
- has discretionary authority over which securities are bought or sold (8.C.1)
- receives research or other products from a broker-dealer, soft dollars (8.E)
- compensates persons for client referrals (8.G.1)
- compensates non-employees for client referrals (8.G.2)
- has custody of client cash or bank accounts (9.A.1.a)
- has custody of client securities (9.A.1.b)
- marketing includes testimonials (5.L.1.c)
Where the RAUM sits
Form ADV Item 5.D, latest filing
- High-net-worth individuals$1.3B98%
- Individuals$23.8M1.8%
- Charitable organizations$2.0M0.2%
- Individual clients
- 47reported
- HNW clients
- 140reported
- Pension plan clients
- n/areported
- Charitable clients
- 1reported
- Accounts
- 984reported
- Financial planning clients
- 0reported
- Wrap fee programs
- noreported
- Custody of client assets
- $285M for 176 clientsreported
- Compensation
- % of AUM, fixed, hourlyreported
- Class basis
- private_client_share=1.0 fund_share=0.0 institutional_share=0.0 related_bd=false related_bank=false bd_reps=0.0derived
Advisors registered through the firm
5 on IAPD today, longest tenure first
| Name | Branch | Here since | In industry | Prior firms |
|---|---|---|---|---|
| Brian GoodstadtChartered Financial Analyst | Denver, Co | Mar 17, 2009 | 34 y | 0 |
| Shaun Michael WilliamsCertified Financial Planner, Chartered Financial Analyst | Denver, Co | Nov 11, 2022 | 13 y | 0 |
| Jay Fairfield RattermanChartered Financial Analyst | Denver, Co | Jan 24, 2025 | 13 y | 0 |
| Lawrence Ernest OrgillChartered Financial Analyst | Buckeye, Az | Apr 15, 2025 | 27 y | 0 |
| Benjamin Allan Michalski | Denver, Co | May 6, 2025 | 14 y | 4 |
Advisor movement
0 left, 0 joined in 12 months
net 0 in 12 months0 left in 90 days0 joined in 90 daysdeparture rate 0.0% of current headcount0 left over 36 months
Left, latest
none on the tape
Joined, latest
- Benjamin Allan Michalski from Merit Financial AdvisorsMay 6, 2025 · RIA to RIA
Private funds
2 reported on Schedule D 7.B.(1)
| Fund | Type | Gross assets | Owners | First reported |
|---|---|---|---|---|
| Paragon Arbitrage Fundno longer reported | Hedge Fund | $19.0M | 32 | Mar 23, 2012 |
| Paragon Hedged Equity Fundno longer reported | Hedge Fund | $13.4M | 27 | Mar 23, 2012 |
Owners and control persons
Schedule A and B, latest filing
- Brian Goodstadt · Managing Directorcontrolsince 09/2021 · owns 10% to 25%
- Ernest Lawrence Orgill · Chief Compliance Officercontrolsince 07/2021 · owns 10% to 25%
- Fairfield Jay Ratterman · Owner/Advisorcontrolsince 01/2022 · owns 10% to 25%
- Michael Shaun Williams · Owner/Advisorcontrolsince 01/2021 · owns 10% to 25%
Related persons
Schedule D 7.A
No related person reported.
Office movement
IAPD branch city; joins and departures in 12 months
| Office | Advisors | Joined | Left | Teams out | Forming |
|---|---|---|---|---|---|
| Denver, Co · principal | 5 | 0 | 0 |
Offices
Schedule D 1.F, the 25 largest
No branch office listed.
ADV anomalies
2 against comparable advisers; where to look, not conclusions
- control person changedChange between filings · filing Mar 24, 2026WILLIAMS, SHAUN, MICHAEL (OWNER/ADVISOR) left Schedule A between the filings of 2023-03-10 and 2026-03-24peers: independent wealth managers, $1B to $5B (1,360)
- control person changedChange between filings · filing Mar 24, 2026RATTERMAN, JAY, FAIRFIELD (OWNER/ADVISOR) left Schedule A between the filings of 2023-03-10 and 2026-03-24peers: independent wealth managers, $1B to $5B (1,360)
What changed
consecutive filings, newest first
- Accounts · 845 to 984Aug 20, 2025 to Mar 24, 2026
- Advisory employees · 4 to 5Aug 20, 2025 to Mar 24, 2026
- Charity clients · unset to 1.0Aug 20, 2025 to Mar 24, 2026
- HNW clients · 138 to 140Aug 20, 2025 to Mar 24, 2026
- Individual clients · 46 to 47Aug 20, 2025 to Mar 24, 2026
- Assets in custody · $803M to $285MAug 20, 2025 to Mar 24, 2026
- Employees · 5 to 6Aug 20, 2025 to Mar 24, 2026
- Financial planning clients · 101-250 to 0Aug 20, 2025 to Mar 24, 2026
- State-registered IARs · 4 to 5Aug 20, 2025 to Mar 24, 2026
- Discretionary RAUM · $1.1B to $1.2BAug 20, 2025 to Mar 24, 2026
- HNW RAUM · $1.2B to $1.3BAug 20, 2025 to Mar 24, 2026
- Individual RAUM · $24.6M to $23.8MAug 20, 2025 to Mar 24, 2026
- Non-discretionary RAUM · $131M to $145MAug 20, 2025 to Mar 24, 2026
- RAUM · $1.2B to $1.3BAug 20, 2025 to Mar 24, 2026
- Financial planning clients · 101-250 to 101-250Jun 10, 2025 to Jul 23, 2025
- Accounts · 773 to 845Mar 12, 2024 to Mar 19, 2025
- HNW clients · 125 to 138Mar 12, 2024 to Mar 19, 2025
- Individual clients · 39 to 46Mar 12, 2024 to Mar 19, 2025
- Assets in custody · $632M to $803MMar 12, 2024 to Mar 19, 2025
- Employees · 6 to 5Mar 12, 2024 to Mar 19, 2025
- Discretionary RAUM · $1.0B to $1.1BMar 12, 2024 to Mar 19, 2025
- HNW RAUM · $1.1B to $1.2BMar 12, 2024 to Mar 19, 2025
- Individual RAUM · $21.4M to $24.6MMar 12, 2024 to Mar 19, 2025
- Non-discretionary RAUM · $114M to $131MMar 12, 2024 to Mar 19, 2025
- RAUM · $1.1B to $1.2BMar 12, 2024 to Mar 19, 2025
- Accounts · 737 to 773Jun 22, 2023 to Mar 11, 2024
- HNW clients · 110 to 125Jun 22, 2023 to Mar 11, 2024
- Individual clients · 45 to 39Jun 22, 2023 to Mar 11, 2024
- Assets in custody · $0 to $632MJun 22, 2023 to Mar 11, 2024
- Custody of client assets · false to trueJun 22, 2023 to Mar 11, 2024
- Discretionary RAUM · $883M to $1.0BJun 22, 2023 to Mar 11, 2024
- HNW RAUM · $977M to $1.1BJun 22, 2023 to Mar 11, 2024
- Individual RAUM · $25.0M to $21.4MJun 22, 2023 to Mar 11, 2024
- Non-discretionary RAUM · $120M to $114MJun 22, 2023 to Mar 11, 2024
- RAUM · $1.0B to $1.1BJun 22, 2023 to Mar 11, 2024
- Accounts · 701 to 737Mar 14, 2022 to Mar 10, 2023
- Advisory employees · 5 to 4Mar 14, 2022 to Mar 10, 2023
- HNW clients · 117 to 110Mar 14, 2022 to Mar 10, 2023
- Individual clients · 39 to 45Mar 14, 2022 to Mar 10, 2023
- Assets in custody · $7.3M to $0Mar 14, 2022 to Mar 10, 2023
Signals
4 dated events
- Paragon Capital Management reported RAUM $1.0B, down 30% from $1.4B (2022-03-14 to 2023-03-10)Mar 10, 2023 · RAUM change · derived
- Nichols Alexander Feick (Managing Director) no longer on Schedule A of Paragon Capital Management (listed 2022-03-14, absent 2023-03-10)Mar 10, 2023 · Control person left · inference
- Paragon Capital Management reported RAUM $1.4B, up 28% from $1.1B (2021-07-20 to 2022-03-14)Mar 14, 2022 · RAUM change · derived
- Bernard Henry Lester (Managing Director) no longer on Schedule A of Paragon Capital Management (listed 2021-07-20, absent 2022-03-14)Mar 14, 2022 · Control person left · inference
Across DFX
shared identifiers only, never a name match
No identifier-backed link to the venture, private equity, family office or sponsor graphs.
How to reach
public business contact points only, each with its source
- Business email
- annie@paragoncapitalco.comreportedpublished by the firm, firm site, Sep 15, 2026
- Business phone
- 303-293-3680reportedpublished by the firm, firm site, Sep 15, 2026
- Business phone
- 303-293-3849reportedpublished by the firm, firm site, Sep 15, 2026
- Website
- PARAGONCAPITALCO.COMreportedpublic record, Form ADV, Sep 17, 2026
- Principal office phone
- 303-293-3680reportedpublic record, Form ADV, Mar 24, 2026
- Contact form
- paragoncapitalco.com/contactreportedpublished by the firm, firm site, Sep 15, 2026
- Team page
- paragoncapitalco.com/meet-the-teamreportedpublished by the firm, firm site, Sep 15, 2026
Provenance
- Form ADV
- SEC filing data 2011 to 2024 and the monthly roster 2025 onreportedadviserinfo.sec.gov
- Advisors
- IAPD individual compilation feed, dailyreportedadviserinfo.sec.gov
- Class
- Independent wealth managerderiveda rule over Items 5.D and 7.A
- RAUM per advisor
- $263Mderivedfirm RAUM over the IAPD count; not a book size
- Loaded
- Sep 14, 2026