Top Financial Advisors in Tennessee

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Virtue Capital Management in Brentwood works with individual clients, the majority of whom do not have a high net worth. Other clients include high-net-worth individuals, charitable organizations, corporations and other businesses. 

The firm has a $1,000 minimum account size requirement. Financial planning fees can typically range between $1,000 and $15,000.

Since some advisors can earn commissions from selling financial products, Virtue is considered fee-based. Despite this potential conflict of interest, the firm is a fiduciary. This makes it legally obligated to act in the best interests of clients at all times.

Virtue provides clients with asset management and financial planning services, as well as recommendations for outside advisors. The firm also offers its Retirement Answers 101 Financial Education Course, which is designed to help pre-retirees and retirees better understand the different areas of financial planning required for retirement.

Asset management services at the firm are provided on a continuous and tailored basis. Advisors work with clients one-on-one to determine their financial situation, including factors such as risk tolerance, liquidity needs and overall investment objectives. From there, individualized investment strategies can be created. Advisors at Virtue use tactical, strategic and dynamic investment strategies. 

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Legacy Wealth Management is a fee-only firm based in Memphis. The majority of individual clients do not have a high net worth, but the firm also works with who do.

Additionally, the firm serves pensions, profit-sharing plans, corporations, charities, state or municipal governments and businesses.

The firm says in its brochure that clients are generally required to have a minimum account size of $500,000 to engage in wealth management services.

Legacy offers portfolio management and financial planning. It can provide guidance in such areas as cash flow, debt management, budgeting, risk management, education planning, tax planning, retirement planning, early retirement-offer evaluations, deferred compensation planning and estate planning.

The firm manages portfolios using global diversification. Equities may provide higher long-term returns but also greater volatility than cash or bonds. Higher returns generally require holding more equities and accepting more fluctuations.

Client funds are mainly invested in stocks and bonds through mutual funds and ETFs. For some clients, Legacy may recommend separate bond portfolios managed by sub-advisors or alternative strategies with limited liquidity.

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Duncan William Asset Management (DWAM) is a fee-based firm is headquarted in Memphis. It works with both high-net-worth and non-high-net-worth individuals, as well as other investment companies, pension and profit-sharing plans, charities, state or municipal governments, and businesses.

In general, DWAM says in its brochure that account minimum of $50,000 is required. However, the firm may allow exceptions, and clients can combine household accounts to meet the minimum.

In addition to our management fee, clients may pay third-party charges. According to the firm’s brochure, these can include manager fees, custodial fees, brokerage commissions, mutual fund or ETF expenses, sales charges, transfer taxes, wire fees, exchange fees and other account or transaction costs.

DWAM provides investment advisory services, including financial planning, retirement plan services, consulting, asset management, cash management, referrals to outside managers and real estate coaching.

The firm says that it offers financial planning to help clients set long-term goals through investments, taxes, asset allocation, risk management and retirement planning. These services may be comprehensive or focused on specific concerns but do not include active account management.

For retirement plans, the firm assists sponsors with plan evaluations, investment policy statements, due diligence, performance reporting, fiduciary services, participant consultations, employee education and fee analysis.

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Red Door Wealth Management is a fee-only firm located in Memphis. The practice works with individuals above and below the high-net-worth threshold, as well as pooled investment vehicles, pension and profit-sharing plans.

The firm does not have a specific minimum dollar amount requirement to open and maintain an advisory account. Fees for portfolio management are based on a percentage of assets under management, while fixed fees may be charged of other services.

Like other firms, Red Door Wealth Management says that it offers financial planning and consulting services tailored to each client’s needs, including budgeting, investing, retirement, estate planning and charitable giving.

The firm also provides business consulting on transactions, succession planning and growth strategies.

Red Door Wealth Management uses fundamental analysis to evaluate individual companies and their industry groups, determining the true value of their stock compared to the current market value.

The firm also employs technical analysis and modern portfolio in its securities selection and investment strategy.

Red Door invests in a diverse range of assets, including ETFs, mutual funds, stocks, bonds, option contracts, certificates of deposit, US government securities, real estate limited partnerships, money market funds, real estate and REITs.

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Rather & Kittrell (RKI) is a fee-based firm that works with individuals, banks, retirement plans, charities, governments, other investment advisors, insurance companies and businesses. Some of its individual clients are high-net-worth individuals, but the majority are not. 

RKI portfolio management is generally offered to clients with at least $500,000 in assets, though the firm says it may waive this minimum at its discretion.

Advisors at RKI may receive commissions when recommending or selling insurance products to its clients. Some of the firm's associates are also registered representatives of a broker-dealer, and they may limit their securities recommendations to those offered or approved by that broker-dealer.

The firm may also earn commissions from certain trades in client portfolios. While these all represent potential conflicts of interest, the firm has a fiduciary duty to put client interests first.

RKI offers wealth management services, encompassing investment management, estate planning, tax mitigation, asset protection and charitable giving.

The firm also offers financial planning services outside of its portfolio management services, guiding clients on matters such as budgeting, insurance planning, retirement planning and death and disability planning.

RKI tailors its investment advice to clients' unique needs. So like many firms, its wealth management process begins with personal consultations during which the advisor establishes a client's investment objectives, current financial situation, risk tolerance, time horizon, tax situation and liquidity needs.

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Capwealth Advisors is a fee-only firm based in Franklin. It works with both high-net-worth and non-high-net-worth clients, as well as charities.

The firm says in its brochure that clients pay an annual management fee based on a percentage of assets under management. The minimum account size is $1 million.

CapWealth Advisors invests through long-term purchases, short-term purchases, and option writing.

Long-term investments are held for more than a year to seek growth. Short-term investments aim for quicker gains but carry more volatility and costs. Option strategies may include covered calls, spreads and straddles.

The firm uses fundamental and technical analysis to develop portfolio strategies. Fundamental analysis reviews economic and company data, while technical analysis studies price patterns.

CapWealth Advisors also uses sources like Bloomberg, research reports, SEC filings and company press releases.

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Patriot Investment Management Group ranks first on SmartAsset's top firms in Knoxville. 

This fee-only firm works with both high-net-worth and non-high-net-worth individuals, as well as retirement plans, charities and businesses.

There is no set minimum to open or keep an advisory account, but the firm may close accounts it considers too small to manage effectively.

Patriot Investment Management offers asset management, as well as financial planning and wealth management. The latter may include:

• Retirement planning
• Estate strategies
• Investment management
• Insurance analysis
• Tax saving/reduction strategies
• Philanthropic planning
• Cash flow management
• Debt management
• Educational funding 

Patriot believes in taking a disciplined, long-term approach to investing. It looks to tailor the strategies it recommends to the particular needs and goals of its clients.

The firms says that it relies on low-cost, tax-efficient index funds which to reduce costs and capture market returns.

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Waddell & Associates is a fee-only firm headquartered in Memphis, with branches in Nashville and Aspen, Tennessee.

It works with high-net-worth and non-high-net-worth individuals, pension and profit-sharing plans, charities and corporations.

There is a $500,000 investment minimum, though the robo-advisor account minimum is $5,000.

The practice offers investment management, robo-advisor services, financial planning and consulting. It also provides employee benefit retirement plan services to 401(k) pension plan trustees.

As a client of Waddell & Associates, you’re likely to have your money managed in a model portfolio. This means the firm has already developed several template portfolios to fit specific financial needs and situations. This differs from some firms that will create your portfolio completely from scratch.

The primary investments made at Waddell are no-load mutual funds, ETFs, individual securities, money market funds and CDs, corporate bonds, U.S. treasury bonds and municipal bonds.

For those with less than $500,000 to invest, the firm offers access to its robo-advising platform called W&Ai. This is the Schwab Intelligent Portfolio. Trading and rebalancing are determined by an algorithm. Your money is managed digitally, resulting in lower fees and minimums.

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Woodmont Investment Counsel in Nashville is a fee-only firm with an account minimum of $2 million.

The firm works mostly with individuals, the majority of whom qualify as high-net-worth. Institutional clients include pension and profit-sharing plans, charitable organizations and corporations.

Fees are based on a percentage of assets under management. The firm and its advisors do not earn commissions for selling securities or insurance.

Investment portfolios at Woodmont typically include a mix of equity, fixed-income and cash equivalent securities. To that end, the firm may invest your assets in individual stocks and bonds, ETFs and no-load mutual funds.

Some clients, when appropriate, may see their assets allocated to alternative investments like real estate investment trusts (REITs), commodities, as well as private equity and other limited partnerships.