Finding a Top Financial Advisor Firm in Franklin, Tennessee
Choosing a financial advisor isn’t easy. A lot hangs on your decision. And there’s plenty to consider. To help, we collected some fundamentals such as assets under management (AUM), fee basis and investment strategy. Then we put all the info together here for convenient comparing and contrasting. Start your search with this list of the top financial advisor firms in Franklin, Tennessee. Then use SmartAsset’s free financial advisor matching tool to get connected with up to three advisors.
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|Rank||Financial Advisor||Assets Managed||Minimum Assets||Financial Services||More Information|
|1||Beacon Capital Management, LLC Find an Advisor||$601,032,984||$100,000|| || |
|2||HawsGoodwin Wealth Find an Advisor||$594,914,827||No set account minimum|| || |
Minimum AssetsNo set account minimum
|3||Abound Wealth Management, LLC Find an Advisor||$501,389,576||$750,000|| || |
|4||Optivise Advisory Services, LLC Find an Advisor||$186,810,768||No set account minimum|| || |
Minimum AssetsNo set account minimum
|5||Cypress Capital Advisors, LLC Find an Advisor||$223,086,131||$500,000|| || |
|6||Greensview Wealth Management Find an Advisor||$131,668,500||No set account minimum|| || |
Minimum AssetsNo set account minimum
What We Use in Our Methodology
To find the top financial advisors in Franklin, we first identified all firms registered with the SEC in the city. Next, we filtered out firms that don't offer financial planning services, those that don't serve primarily individual clients and those that have disclosures on their record. The qualifying firms were then ranked according to the following criteria:
- AUMFirms with more total assets under management are ranked higher.
- Individual Client CountFirms who serve more individual clients (as opposed to institutional clients) are ranked higher.
- Clients Per AdvisorFirms with a lower ratio of clients per financial advisor are ranked higher.
- Age of FirmFirms that have been in business longer are ranked higher.
All information is accurate as of the writing of this article. This list may include firms that have a business relationship with SmartAsset, in which SmartAsset is compensated for lead referrals. Such relationships have no impact on our rankings, and firms are included and ranked based strictly on the above criteria.
Beacon Capital Management
Beacon Capital Management is headquartered in Franklin with a branch office in Brentwood. Most advisors on the team are also brokers and licensed insurance agents. This means they can earn commissions, which is a potential conflict of interest. All advisors, though, must act in the best interests of clients. Several are certified financial planners (CFPs).
Most clients do not have a high net worth. To open an investment account, the firm’s initial minimum is $100,000, though it may waive or reduce the requirement at its discretion.
Beacon Capital Management Background
Pete Benson and Jon Maxson co-founded Beacon Capital Management in 2005. Maxson actually first worked with Benson’s wife, Ginnie, at Bell South Mobility (she’s now the general manager at Beacon).
Beacon Capital offers discretionary investment management services either through or not through third-party investment advisor firms. It includes financial planning as part of its services, though it also provides financial planning on a stand-alone basis.
Beacon Capital Management Investing Strategy
Based on the client’s profile and goals, Beacon Capital will design diversified portfolios possibly using low-expense-ratio institutional share class mutual funds, exchange-traded funds (ETFs) and individual stocks. In its evaluation of securities, the firm applies fundamental analysis and technical analysis. The strategies of third-party advisors depend on the advisors.
HawsGoodwin Wealth is the next firm on our list. It has a couple other names: HawsGoodwin Financial and HawsGoodwin Investment Management (its legal name). The firm includes advisory certifications such as certified financial planner (CFP) and certified plan fiduciary advisors (CPFA).
Most of its individual clients does not have a high net worth. This is not surprising, since the firm does not have a minimum account size. HawsGoodwin also serves pension and profit-sharing plans, corporations, trusts, estates and charitable organizations.
HawsGoodwin Wealth Background
CEO C. Arthur Haws and President W. Cam Goodwin started the firm in 2008. The two met at Independence Trust Company, where both served as vice presidents.
HawsGoodwin offers financial planning on a one-time or consulting basis. It also provides investment management services either on a discretionary or non-discretionary basis. What’s more, the firm provides corporate retirement plan consulting services.
HawsGoodwin Wealth Investing Strategy
While the wrap fee program uses model portfolios invested in low-cost exchange-traded funds (ETFs), the firm takes a more active approach with its other accounts. It primarily uses a core strategy of traditional asset allocation, combined with a tactical strategy that seeks to capitalize on shorter term trends. In addition to stocks, bonds, mutual funds and ETFs, assets may be allocated to alternative asset classes such as currencies, commodities and private investment funds.
Abound Wealth Management
Hosts of “The Money Guy Show,” Brian Preston and Bo Hanson lead Abound Wealth Management, which mainly charges assets based on a percentage of assets under management.
Clients who do have a high net worth edge out those who do not. The fee-only firm’s minimum to open an investment account is $750,000, which it may negotiate at its discretion.The practice also works with pension and profit-sharing plans, trusts and estates.
Abound Wealth Management Background
Preston and Hanson co-founded Abound Wealth Management in 2016. They’ve been doing their podcast, though, since 2006. Preston is the majority owner of the practice.
Abound Wealth provides customized portfolio management services that include financial planning. It also provides general consulting and advisory services to corporate retirement plans.
Abound Wealth Management Investing Strategy
Abound Wealth believes that strategic asset allocation can drive better performance than market timing or stock picking. So it invests client assets in diversified portfolios with an emphasis on the long term, low expenses and tax efficiency. It infrequently revises asset allocations based on changes in the economic environment while it periodically rebalances target allocations. As a result, assets under its management were primarily invested in mutual funds and exchange-traded funds (ETFs).
Optivise Advisory Services
Optivise Advisory Services, a small firm with no website, is the next financial advisor on our Franklin, Tennessee list. Optivise has a client base that is made up strictly of individuals. Of these individuals, over 90% are non-high-net-worth individuals. However, a good chunk of the firm's total assets under management (AUM) come from its high-net-worth individual clients.
Optivise is a fee-based firm, since some advisors can earn commissions from the sale of financial products to clients. This is a potential conflict of interest. However, the firm is a fiduciary, so it's legally obligated to act in the best interests of clients at all times. The firm does not have a set account minimum.
Optivise Advisory Services Background
Optivise Advisory Services was founded in 2019, making it one of the younger firms on our Franklin list. The firm was also registered with the SEC as an investment advisor in 2019. PanthRex Asset Management, LLC, along with Cory S. Colquette, are the managers of the firm. Optivise has another office in Hot Springs, Arkansas.
Optivise provides its individual client base with investment portfolio management and financial planning services. The firm also provides access to a wrap fee program.
Optivise Advisory Services Investment Strategy
Optivise Advisory Services, much like other financial advisors, looks to tailor its investment management services and strategies to the needs of clients. By meeting with clients on an ongoing basis to learn about their tolerance for risk, liquidity needs, time horizon, general financial situation and investment objectives, the firm can best develop investment strategies that work for each of its clients individually.
Advisors at Optivise may take advantage fo sub-advisors to help manage client portfolios. It may use a wide range of investment options to populate client portfolios as well.
Cypress Capital Advisors
Cypress Capital Advisors is headquartered in Franklin and has branch offices in Nashville and Raleigh, North Carolina. Named after a lone cypress tree on a granite hillside in California, the firm oversees assets on a discretionary basis.
Some advisors at the firm are insurance agents and can earn commissions. This is a potential conflict of interest, but advisors must act in the client's best interest. Cypress Capital mostly works with individual clients who do not have a high net worth. The firm also serves pension and profit-sharing plans, corporations, trusts, estates and charitable organizations. The minimum to open an investment account is $500,000, though the firm may waive the requirement at its discretion.
Cypress Capital Advisors Background
Cypress Capital Advisors has been in business since 2017. Its parent company, Cypress Capital, LLC, is owned by Mark Dodson and Michael Brooks. Both Dodson and Brooks are chartered financial analysts (CFAs).
Cypress Capital Advisors provides financial planning, portfolio management, general consulting and retirement plan consulting services.
Cypress Capital Advisors Investing Strategy
The practice custom-builds portfolios based on the client profile and objectives or uses model portfolios. If it uses the latter, it may be one or a combination of the following:
- Strategic Income Model: typically invests at least 80% of its assets in various income-producing instruments and at times use hedging strategies
- Select Dividends Model: invests in the top 5% (in terms of market capitalization) of fundamentally sound franchise companies with either above market yield or high dividend growth based on Cypress Capital’s proprietary assessment methodology
- Global Allocation Model: invests in low-cost, efficient exchange-traded funds (ETFs) to offer exposure to seven distinct asset classes while incorporating a currency neutral approach to international exposure.
- U.S. Opportunity: may be invested in as much as 100% equities with a minimum of 50% when market risk rises
- International ETF: may be invested in as much as 100% international equity ETFs with a minimum of 0% when market risk rises
- Asset Neutral Portfolio: invests across five broad asset classes, starting with an equally weighted base allocation of typically liquid, low-cost ETFs
- Global Equity and Income: invests in individual equities and low cost ETFs, diversified across eight asset classes
In formulating its advice, the firm typically uses fundamental analysis and/or technical analysis.
Greensview Wealth Management
Greensview Wealth Management is a fee-based firm that works with individuals, high-net-worth individuals, pension plans and charitable organizations. The advisor team at Greensview includes such certifications as certified financial planner (CFP) and certified investment management analyst (CIMA).
Investment management fees are based on a percentage of assets under management whiel financial planning fees are generally charged at a flat rate. Some advisors earn transaction-based fees for selling securities and insurance, which is a potential conflict of interset. Advisors, though, must act in the best interest of the client. There is no set account minimum at the firm.
Greensview Wealth Management Background
Greensview Wealth Management was founded in 2017 and is 100% owned by Matthew Wilkes. Services include financial planning, investment management, investment consulting, insurance review, tax planning and budgeting. It may provide these services separately or comprehensively.
Greensview Wealth Management Investment Strategy
Both long- and short-term purchases may be used, depending on what the strategy behind the investment is. More than two-thirds of client money is invested in individual stocks. Mutual funds, bonds, and cash holdings are also used. The firm aims to tailor its investment management advice to the individual needs of its clients.