Newport Beach-based private wealth management firm United Capital Financial Advisers LLC has acquired a majority stake in Seattle-based Paragon Investment Management Inc.

United Capital has about $8 billion in assets under management. It is part of United Capital Financial Partners Inc., which has 316 employees throughout 41 offices in the U.S., including affiliates. This is the first move into the Pacific Northwest area for the firm.

The acquisition of Paragon, which has about $1 billion in assets under management, will bring a team of 15 investment professionals under United Capital’s fold. Paragon President Shari Burns has joined United Capital as a managing director.