United Capital acquires Seattle investment adviser

Wed Jan 16, 2013 4:30pm EST

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(Reuters) - United Capital Financial Advisers LLC, a Newport Beach, California-based wealth manager, has expanded its footprint in Seattle with a team of advisers who manage more than $1 billion in client assets.

United Capital said on Wednesday it acquired Seattle-based Paragon Investment Management Inc, a registered investment adviser firm led by veteran adviser Shari Burns.

Burns, who has worked in the advising industry for more than 30 years, founded Paragon in 1991. She and Paragon have been named to Barron's list of top independent financial advisers for four consecutive years.

The firm adds a team of 15 investment professionals to United Capital.

United Capital Financial Advisers is owned by United Capital Financial Partners Inc. The firm, along with its affiliates, advises on more than $15 billion in client assets.

(Reporting by Ashley Lau in New York; editing by Gunna Dickson)

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