Paladin Research Report For:
Paresh B. Shah
PareShah Partners LLC
About Paresh B. Shah
Paresh Shah is a Wealth Strategist since 1996, helping individuals and businesses across the US to co-create innovative financial strategies that protect for today and build for tomorrow.
Paresh is licensed to educate CPAs (CPE presenter) as they guide their clients on Investments, Life, Disability and Long-Term Care Insurance. He specializes in Pension & Profit-Sharing Plans, Asset Protection, Estate Planning and Business Succession Planning. Paresh was also the co-host and speaker of a new talk show "Your Money - Your Taxes" for the South Asian channel - ITV Gold. Long Island Business News awarded Paresh "2016 Honoree - Diversity in Business Award".
Paresh is a member of the prestigious Million Dollar Round Table for the past 15 years and a "Top of the Table" member for the last 3 years. Paresh graduated as a Chemical Engineer (honors graduate) from the prestigious Indian Institute of Technology at Kharagpur, India. His keen sense of professionalism and community service has kept him active in India as well as the United States. He supports Health-Care and Education Initiatives for the financially challenged. Paresh is the Past-President of the Long Island Chapter of IIT Alumni Association, the Chapter Presidents Representative on the PANIIT USA Board and Past President of The Old Campionites' Association. He and his wife support a school for the Deaf and Mute in Bhavnagar, a school for Blind children in Saputara and The Sister Nivedita Foundation in Rajkot all three in Gujarat, India. They have sponsored individuals through their Undergraduate Engineering/Architecture Education. Annually they support the Hand and Heart for the Handicapped (HHH). He is now on the board of the IIT KGP Foundation.
Paresh resides in Hicksville, NY with his wife Shimul. Their son Shamik, is pursuing Psychology at Hunters College in NYC.
Registered Representative of Lion Street Financial and Investment Advisor Representative of Csenge Advisory Group.
General Information
Firm Start Year
- 2011
No. of Employees
- 5-9
CRD#
- 4727940
Firm CRD#
- 131167
Years of Experience in Financial Services
- 26
Number of Years with Current Firm
- 17
Work Experience
- After graduating as a Chemical Engineer from the prestigious Indian Institute of Technology, Paresh Shah worked for Shell, India, for a brief five years. In 1996, Paresh switched his career to finance, and as a stockbroker he built his firm from 1996 to 2004, to trade more than $2 million a day. In 2004 Paresh migrated to the US and began work in a stockbroking firm. Next year, Paresh joined Guardian as a financial representative and expanded his money management and stockbroking skills to include financial planning and life insurance. At that time Paresh observed the unseen and negative effects that taxes have on any portfolio, and began studying strategies to help clients reduce, defer and save taxes, these include income taxes, capital gain taxes and estate taxes. Once the client has finished consulting with their CPA, Paresh brought in with unique planning and strategies to help clients save additional taxes. This way Paresh complemented the accountant's work never replaced a CPA. While at Guardian, Paresh established PareShah Financial Services, and expanded the scope of services his firm provided. In 2018, Paresh went independent and established PareShah Partners, LLC® in Hicksville, NY. Today PareShah Partners LLC has three advisers and eight support staff. His mission is to help families and businesses protect their assets and plan for a financial future that allows them to pursue their dreams with confidence. This fierce desire to independently advice clients, have led the firm to join Lion Street in 2021. The firm specializes in retirement planning, estate planning, college education funding, defined benefit and defined contribution plan, restricted property trust, Captive insurance etc. We manage the underlying investment assets and help client acquire life disability and long-term care insurance.
Work with the following types of clients
- Businesses, Individual Investors, Non-Profit Organizations
Foreign Languages Serviced
- Hindi, Gujarati
Advisory Services Provided
- Tax Advice and Services, Legal Advice and Services, Financial Planning for Businesses, Financial Advice & Consulting, Investment Advice & Management, Financial Planning for Individuals, Education Funding and Planning, Risk Management, Money Management, Wealth Management, 401K Rollovers, Retirement Planning, Portfolio Management, Financial Planning, Insurance Products & Annuities, Estate Planning & Trusts
Compliance
Registered Representative
- Yes
Investment Advisor Representative
- Yes
Acknowledged fiduciary
- Yes
Compliance Disclosures in Last 5 years
- I have a clean record
Criminal Disclosures in Last 5 years
- I have a clean record
Qualifications & Membership
Certifications, Accreditations & Designations
- CFP®
Securities Licenses
- Series 65, Series 63, Series 7
Insurance and Annuity Licenses
- Accident, Annuity, Health, Life, Variable Annuity, Long Term Care, Disability, Variable Life
Firm Information
Firm's Number of Clients
- 240
Advisor's Number of Clients
- 200
Advisor's Number of Planning Clients
- 50
Total Assets Under Management by Advisor
- 350 million
Compensation and Fees
Minimum Portfolio Size for New Managed Accounts
- None
Compensation Methods
- Flat Fee, Based on Assets, Commissions
Education
B.Tech (Hons) - Chemical Engineering
Indian Institute of Technology
06/1996 -05/1992
Disclosures
PaladinRegistry.com provides referrals to financial professionals. PaladinRegistry.com is not a current client of advisor or advisory services. Financial professionals pay cash compensation for these referrals, which creates the incentive for PaladinRegistry.com to make these referrals, resulting in a conflict of interest.
https://www.pareshah.com/
Additional Detailed Disclosures
https://www.paladinregistry.com/disclosure/1890546/paladinregistry-PareShah-Partners-LLC-detailed-disclosure.html
Disclaimer
Securities offered through Lion Street Financial, LLC. (LSF), member FINRA & SIPC. Investment Advisory Services offered through Csenge Advisory Group. Fixed insurance offered through PareShah Partners. LSF is not affiliated with PareShah Partners or Dalal Capital. Securities offered through Lion Street Financial, LLC (512.776.8400), member FINRA, SIPC. Investment advisory products & services offered through Csenge Advisory Group, an investment advisor registered with the SEC. Lion Street Financial, LLC does not provide tax or legal advice. Representatives may transact business, which includes offering products and services and/or responding to inquiries, only in state(s) in which they are properly registered and/or licensed.
Paladin Advisors