Finding a Top Financial Advisor Firm in Knoxville, Tennessee
With so many firms to consider, it can be hard to find a financial advisor. To narrow down your options, SmartAsset created this list of the top Knoxville financial advisor firms. We researched the Knoxville-area firms to bring you information on their investment approaches, qualifications and more, so you can more easily determine which firm might be right for you.
|Rank||Financial Advisor||Assets Managed||Minimum Assets||Financial Services||More Information|
|1||Patriot Investment Management Group, Inc. Find an Advisor||$1,078,001,643||No set account minimum|| || |
Minimum AssetsNo set account minimum
|2||Rather & Kittrell, Inc. Find an Advisor||$878,694,418||$500,000|| || |
|3||PYA Waltman Capital, LLC Find an Advisor||$754,600,955||$500,000|| || |
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|4||Proffitt & Goodson Inc. Find an Advisor||$471,276,597||$2 million|| || |
Minimum Assets$2 million
|5||Tennessee Valley Asset Management Partners, LLC Find an Advisor||$354,179,936||$50,000|| || |
|6||WMG Financial Advisors Find an Advisor||$305,509,367||No set account minimum|| || |
Minimum AssetsNo set account minimum
|7||Asset Planning Corporation Find an Advisor||$236,076,146||No set account minimum|| || |
Minimum AssetsNo set account minimum
|8||The Nalls Sherbakoff Group, LLC Find an Advisor||$211,588,928||No set account minimum|| || |
Minimum AssetsNo set account minimum
|9||Knox Wealth Partners Advisory Find an Advisor||$186,000,000||Varies based on program|| || |
Minimum AssetsVaries based on program
|10||CTM Financial, LLC Find an Advisor||$171,112,969||$400,000|| || |
How We Found the Top Financial Advisor Firms in Knoxville, Tennessee
SmartAsset considered all financial advisor firms in Knoxville that are registered with the U.S. Securities and Exchange Commission (SEC) for this list. We specifically looked at SEC-registered firms because they’re bound by a fiduciary duty to put their clients’ best interests before their own. From those firms, we eliminated any that had disciplinary issues so that our final list only included firms with clean records. We also eliminated firms if they did not offer financial planning or did not serve individual clients. The remaining firms were sorted according to assets under management (AUM), from highest AUM to lowest. All information is accurate as of the writing of this article.
Patriot Investment Management Group, Inc.
Patriot Investment Management Group, Inc. ranks first because it has more assets under its management than any other Knoxville firm on this list.
Patriot Investment Management has eight certified financial planners (CFPs) on staff, the highest number of CFPs offered by any firm on this list. The team also includes one certified public accountant (CPA) and one chartered financial analyst (CFA).
The fee-only firm serves individuals, pension and profit-sharing plans, trusts, estates, charitable organizations, corporations and other business entities. It does not require a minimum account size to open an account.
Patriot Investment Management Group Background
Patriot Investment Management Group has been providing investment advisory services since 1992, making it the second-oldest firm on this list (after only Asset Planning Corporation). Patriot is principally owned by Brad Bower, the firm’s president and CEO.
The advisory 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, plus financial planning and wealth management. The latter may include:
- Risk management and insurance analysis
- Asset allocation and portfolio management
- Tax planning
- Education planning
- Retirement planning
- Estate planning and trust management
Patriot Investment Management Group Investing Process
Patriot Investment Management Group says that it believes in taking a "conservative, prudent approach to investing, and earning attractive, risk-adjusted returns over the long term." The firm's investment process begins with the identification of a client's risk tolerance, goals and objectives. Next it creates a plan based on that information.
Patriot emphasizes diversification and asset allocation and eschews market timing. The firm argues that actively managed funds have historically underperformed and resulted in higher fees. As a result, it tends to invest its clients' assets in index funds, which align with the firm's emphasis on cost efficiency. However, Patriot allows its clients' restrictions and guidelines to shape their portfolios.
Notably, the firm says that tax efficiency isn't one of its primary considerations when constructing client portfolios. It recommends that its clients consult with a tax professional before and during the investment process.
Rather & Kittrell, Inc.
Rather & Kittrell, Inc. is a fee-based firm that specializes in serving those who are going through transitions. Its clients include individuals, families, businesses, banks and pension and profit-sharing plans. Some of its individual clients are high-net-worth individuals, but the majority are not. The firm has an account minimum of $500,000.
The advisory has eight certified financial planners (CFPs) on staff.
Rather & Kittrell may receive commissions when it recommends and sells 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 its clients' best interests before its own.
Rather & Kittrell Background
Rather & Kittrell started in 2000 as a “two-desk business.” The SEC-registered firm is wholly owned by RK Holdings, Inc., which in turn is principally owned by the firm's co-founders, Lytle Rather and Christian Kittrell. Rather currently serves as the firm's president, while Kittrell is a senior advisor and partner. The firm has a sole office in Knoxville.
The practice offers wealth management services, encompassing investment management, estate planning, tax mitigation, asset protection and charitable giving. The firm works in conjunction with other professionals to provide these services. For instance, they collaborate with insurance agents for a client's insurance plan or with an accounting firm for a client's tax planning needs.
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.
Rather & Kittrell Investment Philosophy
Rather & Kittrell 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.
Based on that information, Rather & Kittrell determines an appropriate asset allocation. For its discretionary accounts, the firm typically relies on its model allocations, which offer 11 different risk profiles that range from a focus on preserving capital to achieving aggressive growth. The firm says that its core investment strategy consists of "globally diversified, multi-asset class model portfolios designed to deliver expected long-term returns within well-defined ranges of risk." In accordance with modern portfolio theory's assertion that the markets are efficient, the firm primarily uses passive investments in entire asset classes, including managed mutual funds and ETFs.
PYA Waltman Capital
PYA Waltman Capital is a fee-based advisory firm, meaning it earns income from sources other than just management fees. Among the firm’s five advisors, there are four certified financial planners (CFPs) and one chartered financial analyst (CFA).
The firm works with individuals, high-net-worth individuals, pension plans, charitable organizations and corporations. Its $500,000 minimum account size is a tie for the highest minimum on this list.
PYA Waltman Capital Background
PYA Waltman Capital was established in 2005, and its principal owners are J. William Waltman, Jr. and Douglas Yoakley.
The firm offers investment supervisory services, investment management services, retirement plan consulting services and financial planning services. The latter may cover retirement planning, estate planning, insurance review and analysis, education funding planning and cash flow and net worth analysis.
PYA Waltman Capital Investment Philosophy
When it comes to analyzing securities, PYA Waltman relies most heavily on fundamental analysis, which involves attempting to assess the economic wellbeing of a company or financial entity instead of looking only at its price movements.
The firm typically offers advice on investment products including but not limited to mutual funds, index funds, exchange-traded funds (ETFs), limited partnerships, real estate investment trusts (REITs) and annuities.
Proffitt and Goodson Inc.
Proffitt & Goodson is a fee-only firm working mostly with individual clients, the majority of whom are high-net-worth. The only institutional clients on the rolls at Proffitt & Goodson are pension and profit-sharing plans and a small number of charitable organizations. The recomended account minimum is $2 million.
Fees for asset management are charged at a flat rate of 1.00% of the total assets under management. Fees may be negotiable. Wealth planning is billed at an hourly rate, generally between $300 and $400. Pension consulting is charged at a flat rate of 0.50% of assets under management.
The team members have a number of credentials, including the chartered financial advisor (CFA), certified public accountant (CPA) and certified financial planner (CFP) designations.
Proffitt & Goodson Background
The firm was founded in 1986 by Jim Proffitt and David Goodson. The principal shareholders are as follows:
- David Goodson, managing director and CIO
- Neil Goodson, managing director, portfolio managemer and chief compliance officer
- Benjamin Goodson, managing director and senior advisor
Proffitt & Goodson Investment Philosophy
Diversification is at the heart of the strategy at this firm. Advisors look to build portfolios that are allocated across different asset classes. They also don't try to time the market, believing it to be generally be unproductive. Long-term investing is preferred, and taxes are always taken into consideration.
Tennessee Valley Asset Management Partners, LLC
Tennessee Valley Asset Management Partners, LLC offers asset management, including through several advisory programs sponsored by broker-dealer LPL Financial, LLC, and financial planning and consulting services. Advice can cover investment planning, retirement planning, insurance planning, education planning, portfolio review and divorce financial consulting. The firm also provides pension consulting services to both plan sponsors and individual participants. It occasionally hosts seminars and educational workshops on topics like college planning and retirement planning.
The fee-based firm is also a licensed insurance agency. Its employees may work as insurance agents, and they are also representatives of LPL Financial. In these roles, they may earn commissions. Additionally, the firm includes solicitation fees from other investment advisory firms in its fee structure. However, the firm and its employees are bound by their fiduciary duty, so clients can rest assured that the advice they receive is in their best interest.
Tennessee Valley Asset Management Partners Background
Tennessee Valley Asset Management Partners was founded in 2011. The firm has four offices, all in Tennessee. The team includes five certified financial planners (CFPs) and two accredited asset management specialists (AAMSes). Notably, the firm's investment advisor representatives may be either employees or independent contractors.
The advisory primarily serves individuals, including a small percentage of high-net-worth individuals. The firm also works with pension and profit-sharing plans and corporations. A minimum of $50,000 is required to open an account. However, clients can reach this minimum by aggregating all household accounts. The firm also has set minimum fees, including a $250 minimum fee for consulting services and a $500 minimum fee for financial planning services.
Tennessee Valley Asset Management Partners Investing Approach
The investment management process at Tennessee Valley Asset Management begins with honest discussions. These lead to the development of an investment strategy focused on actively managing risk according to a client's financial goals. From there, the firm researches investment options using a range of methods of analysis, including charting, cyclical, fundamental and technical analysis. A client's asset allocation is then implemented, primarily with mutual funds and exchange-traded funds (ETFs).
The firm regularly monitors and rebalances a client’s investments as needed. When markets are up, it says it strives to manage risk. It shifts its focus to asset protection during market downturns.
WMG Financial Advisors
WMG Financial Advisors is a fee-based firm. Unlike many firms, it does not provide its employees' financial ceritifications. There is no set account minimum at WMG and clients are mostly non-high-net-worth individuals. Institutional clients of the firm include pension and profit-sharing plans, charitable organizations and insurance companies.
Asset management fees are based on a percentage of assets under management with a maximum fee of 2.00%. Financial planning fees are charged at a fixed rate between $1,500 and $10,000. Some advisors at the firm may earn commissions for selling securities. This may present a conflict of interest, but all advisors must act in the best interest of the client.
WMG Financial Advisors Background
WMG Financial Advisors Investment Strategy
Asset Planning Corporation
Asset Planning Corporation offers wealth management and related advisory services. The firm's financial planning services may encompass areas including investment strategy, financial independence/retirement planning, education funding, insurance, taxes and estate planning.
To open an account, you'll need a minimum of $500,000. Clients here include both individuals and high-net-worth individuals, pension and profit-sharing plans, trusts, estates, businesses and non-profit organizations. For the past 40 years, the firm says it has specialized in serving healthcare professionals, including family physicians, nurse practitioners, healthcare executives, hospital administrators, dentists and veterinarians.
Asset Planning Corporation Background
Asset Planning Corporation has been in business since 1975. The firm's president and principal owner is Paul Fain, who is also a licensed insurance professional. He may receive commissions from insurance companies when he sells their products to clients. However, clients are not obligated to implement Fain's recommendations. Moreover, because the firm is bound by fiduciary duty, its advisors are required to put clients' best interests before their own.
Also on the team are three certified financial planners (CFPs) and one financial paraplanner qualified professionals (FPQP), an introductory financial planning designation.
Asset Planning Corporation Portfolio Management
With its portfolio management services, Asset Planning Corporation aims to maximize clients' returns while keeping their goals and risk tolerance in mind. The firm uses strategic asset allocations that emphasize diversification. Typically, it invests its clients' assets in no-load mutual funds and ETFs, but it may also use certificates of deposit (CDs) or individual bonds.
Asset Planning Corporation says that it reviews client portfolios at least quarterly and makes adjustments as needed. It contacts clients at least annually to review their portfolios and financial plans.
The Nalls Sherbakoff Group, LLC
The Nalls Sherbakoff Group, LLC is a fee-only firm that is not affiliated with any insurance agencies or broker-dealers. Its clients include individuals, pension and profit-sharing plans, trusts, estates, charitable organizations, corporations and other business entities. This firm does not require a set account minimum to open or maintain an account.
The advisory says that it places an emphasis on education to ensure its clients don't make financial decisions that may stop them from reaching their goals. The firm's services include portfolio management, financial planning and pension consulting. Its financial planning services can be broad and comprehensive in scope, or consultative and narrow.
The Nalls Sherbakoff Group Background
The Nalls Sherbakoff Group was founded in 2013. The firm's principal owner is Donald Nalls, who serves as a financial planner. Prior to founding The Nalls Sherbakoff Group, Nalls was one of the co-founders of Patriot Investment Management, the first firm on this list. Both Nalls and T. Lee Sherbakoff, the firm's other namesake (and a principal and financial advisor), are U.S. military veterans.
The Nalls Sherbakoff team includes has three certified financial planners (CFPs). One of the advisors is also a certified divorce financial analyst (CDFA), and another is a certified public accountant/personal financial specialist (CPA/PFS).
The Nalls Sherbakoff Group Investing Approach
As is customary at many financial advisor firms, The Nalls Sherbakoff Group begins the portfolio management process with the establishment of a client's investment objectives, risk tolerance and any other relevant financial information. This informs the firm's investment approach. Nalls Sherbakoff says that it primarily offers advice on equity securities, corporate debt securities, mutual funds and ETFs. It may also advise clients on investments they held prior to opening an account with the firm.
Like another firm on this list, Patriot Investment Management Group, Nalls Sherbakoff does not prioritize tax efficiency in its investment approach unless specifically requested by a client. For help with tax-loss harvesting and other tax-related issues, you'll need to consult a tax professional.
Knox Wealth Partners Advisory
Knox Wealth Partners is a fee-based firm, meaning it collects commissions from third-party vendors on top of client fees. There is no account minimum for standard asset management services. However, the firm also offers sponsored advisory programs through LPL Financial, and those programs have varied minimums attached.
The firm does not list financial certifications on its website. The firm’s clients are almost entirely non-high-net-worth individuals, with a small number of high-net-worth clients as well. There are no institutional clients at the firm.
Knox Wealth Partners Advisory Background
Knox Wealth Partners is the youngest firm on this list, founded in only 2017. However, the firm’s advisors have more than 75 years of combined experience. The firm has six principal owners: William A. Timm, W. Porter Alexander, Brian L. Russell, Charles F. Farmer and Kristen T. Tucker.
The firm provides asset management services and financial planning services. Additionally, clients can participate in four different LPL Financial Sponsored Advisory programs, which vary both in scope and the amount of assets required to participate. The firm also sponsors a wrap fee program, which offers comprehensive advisory services for a single, set fee.
Knox Wealth Partners Advisory Investment Philosophy
When it comes to client portfolios, Knox Wealth Partners typically invests in mutual funds, equities, exchange-traded funds (ETFs), exchange-traded notes (ETNs), unit investment trusts (UITs), fixed income, annuities, foreign securities and margin accounts. Clients are free to buy other investments, but the above range is what the firm normally recommends.
In analyzing securities and formulate recommendations, the firm relies on fundamental analysis, technical analysis, cyclical analysis and charting analysis. Strategies are tailored to each client’s risk tolerance, goals, net worth and time horizon.
CTM Financial, LLC
CTM Financial, LLC is a fee-only firm. The team includes two certified public accountants (CPAs)./p>
The firm requires a minimum account size of $400,000, which is fairly high relative to the rest of the firms on our list. Despite this high minimum, the firm still works with more non-high-net-worth individuals than high-net-worth individuals. CTM doesn’t work with any other types of clients.
CTM Financial Background
CTM was founded in 2008 by Patricia Conry Taylor, who is still a co-owner of the firm. Taylor has been working in the financial services industry for more than 30 years. Jaime A. Conry, who joined the firm in 2014, is also an owner.
The firm offers investment management services and financial planning services covering six areas: personal, education, tax and cash flow, death and disability, retirement and investing. It also offers advisory services to employee benefit retirement plans.
CTM Financial Investment Philosophy
CTM Financial relies on long-term investment strategies that incorporate the principles of Modern Portfolio Theory. The firm typically recommends building a diversified portfolio consisting primarily of asset class mutual funds. Passive portfolio management will then allow clients to benefit from the inherent efficiency of the market over the long term.
Although the firm can invest in a wide range of assets depending on specific client needs, it frequently invests in mutual funds, conservative fixed income securities and exchange-traded funds (ETFs).