Top Financial Advisors in Tennessee

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SageSpring Wealth Partners in Franklin is the No. 1 firm on our list of the top financial advisors in Tennessee. This fee-based firm caters to individuals above and below the high-net-worth threshold, banks and thrift institutions, defined benefit and defined contribution plans, trusts, and estates.

Minimum account sizes range from $5,000 to $25,000 based on the type of program in which you’re enrolled.  

For investment advisory services, fees are based on a percentage of assets under management. The firm also charges fixed and hourly fees. The specific fees charged will vary depending on the scope and size of the client's overall relationship and the level and type of financial services provided.

However, as a fee-based firm, some advisors may earn commissions in their separate capacities as securities brokers or insurance agents. While this form of compensation is a conflict of interest, SageSpring is a fiduciary and is required to act in your best interests. 

The firm has accredited professionals on staff, including certified financial planners (CFPs), chartered financial consultants (ChFCs) and certified public accountants (CPAs), among others. 

Sagespring Wealth Partners Background

Founded in 2016, SageSpring is owned by a corporate entity called SageSpring Holdings, LLC.

In addition to investment advisory services, the firm can provide a comprehensive review of a client's current financial situation, income tax planning, estate tax planning, insurance planning, education planning, retirement planning, and capital needs planning. 

SageSpring Wealth Partners Investment Strategy

SageSpring employs a comprehensive approach to investing its clients’ assets, taking into account each client's predefined objectives, risk tolerance, time horizon, financial information and other suitability factors. The firm utilizes various methods of analysis and investment strategies, including short-term purchases and trading, mutual funds and exchange-traded funds, and recommendations of different types of securities.

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InterOcean Capital Group is a fee-only firm based in Nashville. InterOcean primarily works with high-net-worth individuals, though there are some non-high-net-worth individual clients at the firm, along with some charitable organizations, government entities and pension and profit-sharing plans.

Fees at InterOcean are based on a percentage of assets under management, though sometimes a flat annual fee may be charged. There is technically no account minimum stated, but the high preponderance of high-net-worth clients may imply that the firm generally takes on fairly large accounts.

The firm's team has earned certifications including the certified financial planner (CFP), chartered financial analyst (CFA), certified public accountant (CPA), accredited investment fiduciary (AIF) and chartered financial consultant (ChFC) designations. 

InterOcean Capital Group Background

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Virtue Capital Management in Brentwood is next on our list of the top advisors in the Volunteer State. This fee-based practice works with thousands of 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.

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 Capital Management Background

Virtue Capital Management was founded in 2013. It registered with the SEC as an investment advisor one year later, after previously being registered in a number of individual states. Virtue Financial Holdings, LLC is the firm's 100% owner, though Jeremy Rettich, Matthew Rettich and James Webb own Virtue Financial Holdings. Jeremy and Matthew Rettich are the firm's control persons.

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.

Virtue Capital Management Investment Strategy

Virtue Capital Management's asset management services 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, a fee-only firm based in Memphis, has a team that includes certified financial planners (CFPs), MBAs, certified financial analysts (CFA), JDs and other accredited professionals. (Advisors may have multiple accreditations).

Most of the individual client base comprises people who do not have a high net worth, although the firm also works with hundreds of clients who do. Legacy Wealth also serves pensions, profit-sharing plans, corporations, charities and municipal government entities. The minimum investment is generally $500,000.

Legacy Wealth Management Background

John Ueleke founded the firm in 1982 as one of the first fee-only firms in the area. Although he’s no longer part of the company, Legacy Wealth Management still operates on his founding principles of clients, commitment to honesty and integrity, compassion and culture. The practice is currently owned by its employees, including president and CEO Jim Isaacs and managing director Duncan Miller.

Legacy Wealth 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. 

Legacy Wealth Management Investment Strategy

Legacy Wealth Management is a proponent of globally diversified portfolios, stating on its website its belief that “a diversified portfolio is a sound portfolio.” Most client portfolios are invested in stocks, bonds, mutual funds and ETFs. Services tend to be tailored to the individual financial situation of each client.

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Located in Knoxville, Patriot Investment Management Group is next on our Tennessee list. Its team includes several certified financial planners (CFPs), along with certifications such as certified public accountant (CPA), certified personal retirement specialist (CRPS) and chartered financial analyst (CFA). (Advisors may have multiple professional accreditations.)

With no minimum investment required, the vast majority of the fee-only firm’s clients are non-high-net-worth individuals. It also serves high-net-worth individuals, pension and profit-sharing plans, charitable organizations, corporations and other businesses. 

The firm, which is ranked No. 1 on SmartAsset's list of the top firms in Knoxville, earns compensation solely from the asset-based, fixed and hourly fees that clients pay for services. 

Patriot Investment Management Group Background

Patriot Investment Management Group has been providing investment advisory services since 1998. It’s principally owned by president Taylor Wortham and founding partner Brad Bower.

Patriot Investment Management describes itself as "quarterback" for its clients, coordinating efforts between its accountants, attorneys and any other professionals with whom the firm works. The firm 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 Investment Management Group Investment Strategy

Patriot believes in taking a disciplined, long-term approach to investing. The firm looks to tailor the strategies it recommends to the particular needs and goals of its clients. Patriot relies on low-cost, tax-efficient index funds which the firm says allows them to reduce costs and capture market returns. 

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CapWealth Advisors in Franklin is the sixth-ranked firm on our list of the top practices in Tennessee. As a fee-only firm, CapWealth and its advisors do not earn commissions on the sale of securities or insurance – only the fees that advisory clients pay. This means they’re not subject to the same conflicts of interest as advisors profit off certain transactions. 

CapWealth works with individuals, high-net-worth individuals, charitable organizations, as well as corporations and other businesses. While the firm does not have a minimum account size requirement, they do have a minimum annual account fee of $5,000, which can be waived at the discretion of the CEO or chairman.

CapWealth offers a range of services with varying fee structures. When it comes to investment advisory accounts, the firm charges a management fee that’s based on the assets under management. For financial planning and consulting projects that fall outside of traditional wealth management services, fees are negotiated based on the complexity and scope of the project. Typically, clients are billed one-half of the agreed-upon fee upfront, with the remaining balance due upon completion of the project.

CapWealth Advisors Background

CapWealth Advisors was founded in 2009 and registered with the SEC as a registered investment advisor (RIA) that same year. The business is owned by CapWealth Group, LLC.

This firm offers a range of services to meet the financial needs of its clients. These services include financial planning, financial consulting and investment supervisory services. Furthermore, CapWealth can provide estate planning guidance, helping clients protect and distribute their assets according to their wishes.

CapWealth Advisors Investment Strategy

CapWealth Advisors adheres to a philosophy that focuses on long-term investing with a diversified portfolio. However, the firm may consider short-term investing for clients who seek more immediate profits. To develop effective investment strategies, CapWealth employs fundamental analysis, which involves evaluating the financial health and performance of companies.

When working with clients, CapWealth takes into account various client investor characteristics. This includes understanding their goals and objectives, as well as identifying any potential obstacles that may hinder the achievement of these financial goals. 

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Woodmont Investment Counsel in Nashville is a fee-only firm with the highest account minimum on this list: $2 million. The firm works mostly with individuals, the vast majority of whom qualify as high-net-worth. Institutional clients include pension and profit-sharing plans, charitable organizations and corporations.

The team at Woodmone has earned certifications including chartered financial analyst (CFA), retirement income certified professional (RICP), certified public accountant (CPA) and certified financial planner (CFP), among others. 

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

Woodmont Investment Counsel Background

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Fee-only Waddell & Associates has a main office in Memphis and branches in Nashville and Aspen, Tennessee. The team of advisors at the firm holds a handful of advisory certifications, including the certified financial planner (CFP), certified divorce financial analyst (CDFA) and chartered financial analyst (CFA) designations. 

About a quarter of the individual client base is high-net-worth individuals. The rest are non-high-net-worth individuals. The firm also serves corporate pension and profit-sharing plans, charitable institutions, foundations, endowments and corporations. There is a $500,000 investment minimum, though the robo-advisor account minimum is $5,000. 

Waddell & Associates Background

CEO and chief investment strategist David Waddell founded his namesake firm in 1986. He and two other employees have small stakes, but the majority owner is Focus Financial Partners, LLC.

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.

Waddell & Associates Investment Strategy

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 is determined by an algorithm. Your money is managed digitally, resulting in lower fees and minimums.

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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 pension and profit-sharing plans, trusts, estates, charitable organizations and pooled investment vehicles.

Red Door 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. 

The firm's advisory team features a variety of accredited professionals, including certified financial planners (CFPs), chartered financial analysts (CFAs) and certified public accountants (CPAs), among others. 

Red Door Wealth Management Background

Red Door Wealth Management was established in 2010. The firm is owned by multiple individuals including William F. Hiatt, John Phillips V, Judson W. Cannon, Douglas B. Wright, William D. Allen and John C. Giovannetti.

The firm’s suite of services includes portfolio management and pension consulting, as well as personalized and concierge family office and wealth planning. The latter offerings may include family continuity planning, estate planning and trustee oversight, integrated tax and financial planning, lifestyle management, family philanthropy, risk mitigation and risk management, bookkeeping and accounting, consolidated net worth reporting, family governance, succession planning, and third-party coordination with attorneys and CPAs. 

Red Door Wealth Management Investment Strategy

Red Door Wealth Management utilizes 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. 

In terms of typical investments, 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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The 10th and final firm on our list of the top financial advisors in the state of Tennessee is Delta Asset Management, a large, Memphis-based firm. This firm works with a pretty diverse client base. Of its individual clients, less than half are high-net-worth individuals. It also works with some institutional clients, such as pensions, profit-sharing plans, charitable organizations, government entities, businesses and corporations.

Delta does not have a minimum account size requirement, however, it does charge a minimum annual fee of $3,000. It is a fee-only firm, so advisors don't earn any commissions that could create a conflict of interest. Fees are based on the market value of a client's assets under management. 

The advisory team has certified financial planners (CFPs) and chartered financial analysts (CFAs) on staff. 

Delta Asset Management Background

Delta Asset Management was founded in 1989, making it one of the oldest firms on our list. It became an SEC-registered investment advisor in 2001. The firm is owned by managing directors Myron Mall, Edward Taylor and David Smith as well as Hightower Advisors, LLC.

Delta provides its clients with investment advisory and financial planning services.

Delta Asset Management Investment Strategy

Delta Asset Management works with clients to provide tailored investment services. This process involves meeting with clients to determine their risk tolerance, time horizon, liquidity needs and overall financial situation. Advisors form a model portfolio that they use as an allocation guide.

The firm primarily uses long-term purchases to help drive growth in client portfolios. Advisors may use a wide range of different investments, depending upon the specific client and their situation and goals.