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||$1,333,303,318||No set account minimum|| || |
Minimum AssetsNo set account minimum
|2||Rather & Kittrell, Inc. Find an Advisor||$1,057,573,646||$500,000|| || |
|3||Tennessee Valley Asset Management Partners, LLC Find an Advisor||$484,854,709||Varies based on account type|| || |
Minimum AssetsVaries based on account type
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|4||PYA Waltman Capital, LLC Find an Advisor||$879,167,089||$500,000|| || |
|5||Proffitt & Goodson Inc. Find an Advisor||$563,990,695||No set account minimum|| || |
Minimum AssetsNo set account minimum
|6||WMG Financial Advisors Find an Advisor||$343,379,559||No set account minimum|| || |
Minimum AssetsNo set account minimum
|7||Asset Planning Corporation Find an Advisor||$263,501,977||No set account minimum|| || |
Minimum AssetsNo set account minimum
|8||NBZ Investment Advisors, LLC Find an Advisor||$264,735,776||No set account minimum|| || |
Minimum AssetsNo set account minimum
|9||Valor Financial Services, LLC Find an Advisor||$159,195,310||No set account minimum|| || |
Minimum AssetsNo set account minimum
|10||The Nalls Sherbakoff Group, LLC Find an Advisor||$214,492,131||No set account minimum|| || |
Minimum AssetsNo set account minimum
How We Found the Top Financial Advisor Firms in Knoxville, Tennessee
To find the top financial advisors in Knoxville, Tennessee, 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:
Patriot Investment Management Group
Patriot Investment Management Group ranks first on our Knoxville list. The firm's advisory staff holds various financial certifications, such as certified financial planner (CFP), certified public accountant (CPA) and 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
Rather & Kittrell 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 a number of 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 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 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.
Tennessee Valley Asset Management Partners
Tennessee Valley Asset Management Partners offers investment 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 team includes certified financial planners (CFP) and two accredited asset management specialists (AAMS). 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, though certain strategies may have different minimums. 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.
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
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, though there is no set account minimum.
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 analyst (CFA), certified public accountant (CPA) and certified financial planner (CFP) designations.
Proffitt & Goodson Background
Proffitt & Goodson 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 Proffitt & Goodson. 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.
WMG Financial Advisors
WMG Financial Advisors is a fee-based firm, so despite advisors being able to earn commissions from the sale of financial products, the firm is still a fiduciary ogbligated to act in the best interests of clients. 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 was founded in 2004. The principal owner is Dieter William Bergner. Services offered include portfolio management, asset selection, regular portfolio monitoring, retirement plan consulting, financial planning selection of other advisors, retirement planning, education planning and life insurance.
WMG Financial Advisors Investment Strategy
Modern portfolio theory is the foundation of WMG's investing strategy. This looks to maximize a portfolio's expected return based on a level of risk tolerance, or to minimize risk given an expected return. Long-term trading is the principal strategy used by advisors at WMG. This means that the firm will look to hold onto client investments for at least a year at a time.
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. This is a fee-only firm that doesn't take commissions.
To open an account, you won't need to meet any investment minimum. 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 certifications such as certified financial planner (CFP) and financial paraplanner qualified professional (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.
NBZ Investment Advisors
NBZ Investment Advisors is the next firm on our list of Knoxville's top financial advisors. This firm doesn't have a huge client base, and of the clients it does serve, almost every single one is an individual investor. The firm works with slightly more high-net-worth individuals than it does non-high-net-worth individuals. The firm's insitutional clients currently include pensions and profit sharing plans.
NBZ is a fee-only advisor, so you won't need to worry about a conflict of interest arising from advisors selling financial products for commissions. The firm does not have a set account minimum balance requirement.
NBZ Investment Advisors Background
NBZ Investment Advisors was founded in 1995, making it one of the older firms on our list. It became an SEC-registered investment advisor in 2003. It is currently principally owned by Richard I. Zivi, Jr. The firm's small advisory team includes the certified financial planner (CFP) and certified public accountant (CPA) designations.
All of NBZ's assets are managed on a discretionary basis. The firm provides its clients with holistic investment portfolio management services along with financial consulting services.
NBZ Investment Advisors Investment Strategy
NBZ Investment Advisors works with clients to develop tailored investment strategies that address their individual interests as retail investors. Advisors at the firm meet with clients on an ongoing basis to make sure they fully understand each client's tolerance for risk, liquidity needs and any other relevant financial information.
When it comes to investing client assets, the firm primarily uses stocks, exchange-traded funds (ETFs), certificates of deposit (CDs), municipal securities and government securities. Advisors primarily uses methods of strategic allocation and a model portfolio called NBZ Index Plus.
Valor Financial Services
The next firm up on our list of the top financial advisors in Knoxville is Valor Financial Services. This firm has a large client base that currently consists solely of individuals. Of these individuals, the vast majority are non-high-net-worth individuals. These non-high-net-worth individuals also account for the majority of the firm's assets under management. There is no account minimum.
Valor is a fee-based firm. There is a potential conflict of interest that arises from the fact that some advisors can receive commissions from the sale of financial products. However, the firm is a fiduciary. This makes it legally obligated to act in the best interests of clients at all times. This firm does not have a website.
Valor Financial Services Background
Valor Financial Services is one of the younger firms on our list, having just been founded in 2020, during the coronavirus pandemic. The firm also became an SEC-registered investment advisor in 2020. William Timm and Brian Russell are the principal owners of the firm. It has a relatively small advisory team.
Valor Financial Services provides its clients with investment advisory services. These services may include a wide range of portfolio management and financial planning services.
Valor Financial Services Investment Strategy
As is the case with most financial advisory firms, Valor Financial Services tailors its investment strategies to the needs of its clients. Advisors meet with clients to reviews ther desired investment strategies and goals, and then typically allocate assets among cash, stocks, mutual funds, bonds and annuities. Clients may place reasonable restrictions on how their assets are managed.
Valor Financial Services uses asset allocation and dollar-cost averaging as well as long and short-term purchases to hlep drive growth in client accounts. Specific investment strategies may vary from client to client.
The Nalls Sherbakoff Group
The Nalls Sherbakoff Group 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 designations such as certified financial planner (CFP), certified divorce financial analyst (CDFA) and 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.