Top Financial Advisors in Tennessee

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SageSpring Wealth Partners is the No. 1 firm on our list of the top financial advisors in the Volunteer State. Headquartered in Franklin, this fee-based firm works with both high-net-worth and non-high-net-worth individuals, as well as pension and profit-sharing plans, charities and businesses. SageSpring has more assets under management and more clients than any other firm on this list. 

In general, SageSpring says in its brochure that there is no set minimum to open or keep an advisory account. However, the firm may close your account if it becomes too small to manage effectively.

Some advisors at SageSpring hold insurance licenses and could earn commissions from selling products. Despite this potential conflict of interest, the firm is a fiduciary, which legally obligates it to act in the best interests of clients.

As with other firms, SageSpring offers advice based on client goals, risk tolerance, time frame, finances and liquidity needs. The firm may use the following approaches to develop a portfolio strategy:

• Fundamental analysis: Reviews company financials, products, management and industry outlook to find a stock’s value. Risk: information may be wrong or outdated.
• Technical/chart analysis: Uses price and volume data to spot patterns and predict movements. Risk: charts may not predict future prices.
• Long-term purchases: Holding securities for more than a year, aiming for growth. Risk: long-term market or company changes.
• Short-term purchases/trading: Buying and selling within a year to capture quick price moves. Risk: higher costs, taxes and possible lower returns.
• Options writing: Selling options contracts for a premium. Risk: complex and not suitable for all investors.

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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, making it accessible to clients with a wide range of asset levels. 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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Paul Winkler, a fee-only advisory firm located in Goodlettsville, does not have a minimum account size requirement. As a result, it works mostly with individuals below the high-net-worth mark, but also serves those with a high net worth, charities, corporations and businesses. However, keep in mind that third-party asset managers used by the firm may have their own minimums, which may be reduced or waived. 

The firm provides financial planning, wealth management planning, investment advisory services, retirement plan consulting and subscription-based planning services to clients who are still build. It also offers investor education through workshops, online resources, group seminars, public workshops, books and a podcast.

Paul Winkler generally uses an evidence-based investment approach that incorporates modern portfolio theory, multi-factor investing and an efficient market philosophy. Client portfolios may use asset allocation, periodic rebalancing, passive or index-based mutual funds and ETFs, and model portfolios managed by third-party asset managers, primarily Matson Money.

The firm also provides clients with access to the eMoney financial management platform. Its advisors hold either the CFP® or the ChFC designation. Finally, Paul Winkler has two regulatory disclosures on its SEC record.

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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, as well as businesses.

DWAM does not require a minimum account size to open an advisory account. Some advisors at Duncan Williams Asset Management may earn commissions from selling insurance products. This represents a potential conflict of interest, but the firm has a fiduciary duty to put client interests first. The DWAM team includes advisors with the CFP®, CFA, CPA and CRPS (chartered retirement plans specialist) designations, among others. 

DWAM provides financial planning, asset management, retirement plan services, investment consulting, institutional cash management and referrals to third-party money managers. It can also provide ancillary services, such as consolidated reporting.

Retirement plan services may include investment policy statement review, due diligence, performance reporting, fiduciary services, employee education, fee analysis and participant consulting.

The firm uses fundamental analysis, technical analysis, charting and cyclical analysis to develop portfolio strategies. Investment strategies may include long-term purchases, short-term purchases, trading, option writing and margin. The firm offers several account programs, including discretionary and non-discretionary select accounts, model portfolios and institutional cash management.

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TVAMP is a fee-based firm located in Knoxville. It works with individuals, entities, pension and profit-sharing plans and employer-sponsored retirement plans.

The firm generally requires a minimum account size of $50,000 for asset management services. Household accounts may be aggregated to meet this minimum and exceptions may be granted. Certain LPL-sponsored programs may have different minimums, while financial planning and consulting services have a minimum fee of $500.

Since some advisors may earn commissions in separate capacities, TVAMP is considered fee-based. Despite this potential conflict of interest, the firm is a fiduciary, which legally obligates it to act in the best interests of clients.

TVAMP provides asset management, financial planning and consulting, personal financial planning, retirement planning and investment management. It can also provide estate planning coordination, tax strategies, insurance planning, retirement plan advisory services, accounting liaison services and referrals to third-party money managers.

Asset management services at the firm are tailored to each client's needs. Advisors generally consider factors such as investment objectives, time horizon and risk tolerance when developing portfolios.

TVAMP uses fundamental analysis and strategic asset allocation to build diversified portfolios. Portfolios may include mutual funds, ETFs, individual equities, fixed-income securities, model portfolios and third-party managers. The firm may also use periodic rebalancing, growth-oriented strategies, income strategies and capital preservation approaches.

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Legacy Wealth Management is a fee-only firm located in Memphis. Founded in 1982, Legacy is the oldest firm on this list. The majority of individual clients do not have a high net worth, but the firm also works with those 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. The team features advisors who hold the CFP®, CFA, CTFA designations, among others. 

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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SageGuard Financial Group is a fee-based firm located in Goodlettsville, Tennessee. It works with both high-net-worth and non-high-net-worth individuals, as well as pension and profit-sharing plans, corporations and other business entities.

SageGuard Financial Group does not require a minimum account size. However, certain investment models have minimums that range from $10,000 to $250,000.

Some advisors at SageGuard Financial Group may earn commissions from selling securities or insurance-related products. This represents a potential conflict of interest, but the firm has a fiduciary duty to put client interests first.

SageGuard Financial Group offers investment management and financial planning. Services include discretionary and non-discretionary portfolio management, investment policy statement development, asset allocation, asset selection and portfolio monitoring. The firm may also direct clients to third-party investment advisor Alphastar Capital Management, LLC.

Financial planning services may cover retirement planning, investment planning, insurance needs, cash flow management, debt consolidation, education planning, estate planning and business planning.

The firm uses strategic asset allocation, tactical asset allocation, fundamental analysis and technical analysis to develop portfolio strategies. Portfolios may include mutual funds, equities, bonds, fixed income, structured notes and REITs. The firm also offers model portfolios, including conservative, moderate, aggressive, income-oriented, equity sleeve and fixed income-oriented strategies.

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Beacon Capital Management is a fee-based firm headquartered in Franklin. It works with individuals, high-net-worth individuals, families, businesses, employer-sponsored retirement plan sponsors and retirement plan participants. The firm also has offices in Murfreesboro, Mt. Juliet and Hendersonville.

The firm generally requires a $100,000 minimum initial account size for portfolio management services. However, Beacon may waive this requirement at its discretion. As a fee-based practice, some advisors at Beacon may earn commissions from selling insurance products through Beacon Insurance & Life, LLC. Despite this potential conflict of interest, the firm is a fiduciary, which legally obligates it to act in the best interests of clients. 

Advisors on staff hold a variety of financial credentials, including the CFP®, CLU and ChFC designations, among others. 

Beacon offers discretionary and non-discretionary portfolio management, financial planning and consulting, retirement plan consulting and benefit plan services. It can also provide guidance in such areas as income and retirement planning, wealth management, tax strategy, healthcare cost planning, legacy and estate planning review, Social Security planning and portfolio risk analysis.

The firm says it tailors investment advice to each client’s profile. Client portfolios may include mutual funds, ETFs, individual stocks, structured notes, fixed-income securities, annuities, life insurance products and other securities when appropriate. Beacon uses fundamental, technical and macro/thematic analysis when evaluating investments. The firm may also use third-party model portfolio management through AE Wealth Management.

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In addition to being ranked among the top firms in Tennessee, Patriot Investment Management also ranks near the top of SmartAsset's list of the 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.

The firm has advisors on staff who hold the CFP® and CPRS designations. 

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 

The firm relies on a blend of fundamental and cyclical analysis to research and select investments. While the former seeks to determine the intrinsic value of a security, the latter is a form of technical analysis that examines recurring price patterns and trends. 

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CapWealth Advisors, a fee-only firm 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. CapWealth also has a minimum annual account fee of $5,000, which may be waived 

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

CapWealth provides investment supervisory services, discretionary and non-discretionary investment management, financial planning and customized portfolio management. Financial planning services may cover estate planning, risk management, budgeting and cash flow, retirement planning, education funding, tax planning and investment portfolio design.

Portfolios may include long-term purchases, short-term purchases, option writing, interval funds and below-investment-grade securities. The firm does not offer wrap fee programs or charge performance-based fees.

Advisors on staff hold a variety of financial credentials, including the CFA®, CFP®, CPA, CTFA, PFS, CPWA® and CIPM designations, among others.