Top Financial Advisors in Memphis, TN

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Legacy Wealth Management, a fee-only firm, sits at the top of our rankings of financial advisors in Memphis. As a fee-only practice, advisors are compensated solely through client fees. They do not accept sales commissions from third-party vendors. This eliminates potential conflicts of interest stemming from the sale of certain financial products.

You’ll need at least $500,000 to open an account with Legacy Wealth Management. Fees for wealth management services are charged as a percentage of a client's assets under management. 

Legacy Wealth Management has a significant number of certifications and advanced degrees on its advisory team, including advisors with the certified financial planner (CFP), chartered financial analyst (CFA), certified public accountant (CPA) and certified trust and financial advisor (CTFA) designations. 

Legacy is not only the No. 1 firm in Memphis, it's also ranked among the top firms in the entire state by SmartAsset.  

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. The company states that it follows the “four Cs”: clients, commitment to honesty and integrity, compassion and culture. 

Chairman Jim Isaacs owns the largest stake in the business (21%), while Duncan Miller, Cathy Simmons, Charles Jalenak, Hallie Peyton, Lindsey Mazzola and Rob Sievers all own between 7% an 11% of the practice. 

Legacy Wealth Management Investment Strategy

This firm is a proponent of globally diversified portfolios. Most client portfolios are invested in mutual funds and exchange-traded funds (ETFs), although the firm may recommend separate portfolios of individual bonds managed by a sub-advisor for some clinets. The firm looks to tailor its investment advice to the needs of its clients on an individual basis.

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Waddell & Associates is a fee-only firm that works with individuals and high-net-worth individuals, as well as corporate pension and profit-sharing plans, charitable institutions, foundations, endowments and corporations.

Generally, the firm imposes a $500,000 account minimum for new clients, though that goes down to $5,000 for clients on the W&Ai robo-advisor platform. 

Members of the advisory team at Waddell & Associates hold a combination of the following professional certifications:

• Certified financial planner (CFP)
• Certified public accountant (CPA)
• Chartered financial analyst (CFA)
• Certified divorce financial analyst (CDFA)
• Certified trust and financial advisor (CTFA)
• Personal financial specialist (PFS)

Waddell & Associates Background

David Waddell is the president, CEO and director of his namesake firm. He has an MBA from Babson College and is a certified financial planner (CFP). Before working for Waddell, he was part of Charles Schwab & Co. Perry Green serves as the senior vice president. 

Waddell & Associates is owned by Focus Financial Partners. This LLC owns other advisors, broker-dealers, insurance firms and more.  

Waddell & Associates Portfolio Management

As a client of the firm, 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 mutual funds, ETFs and structured notes. 

For those with less than $500,000, 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, a fee-only firm, doesn’t have an account minimum, so you can become a client with any amount of investable assets. The firm works with individuals, high-net-worth individuals, pension plans, charitable organizations and pooled investment vehicles.

The Red Door team includes advisors who hold the certified financial planner (CFP) designation, as well as the certified public accountant (CPA), chartered financial analyst (CFA) and certified plan fiduciary advisor (CPFA) accreditations.

As a fee-only firm, these advisors do not receive third-party compensation for selling or recommending securities or insurance. Instead, the firm is compensated solely by client-paid fees, which are based on a percentage of a client's account size. The firm also provides financial planning and consulting services, as well as family office and wealthing planning, on a fixed fee basis. Additionally, Red Door collects performance-based fees from two of its in-house funds. 

Red Door Wealth Management Background

Established in 2010, Red Door Wealth Management is owned by Fred Hiatt, John Phillips V, John C. Giovannetti, Doug Wright, Jud Cannon and William Allen. The firm provides investment advisory services, financial planning services, consulting services and retirement plan investment management services.

Red Door Wealth Management Investment Strategy

When analyzing securities, Red Door Wealth Management uses a mix of technical analysis, fundamental analysis and modern portfolio theory, which uses asset allocation to optimize a portfolio's returns for a given level of risk tolerance.

The firm recommends a wide range of investments, including mutual funds, exchange-traded funds (ETFs), stocks, bonds, certificates of deposit (CDs), option contracts, government securities, money market funds, real estate and real estate investment trusts (REITs).

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Next up on our list is Delta Asset Management, a large firm with a diverse range of clients. The firm primarily works with individuals, wand those without a high net worth outnumber those who do have a high net worth. The firm also serves institutional clients, such as pensions, profit sharing plans, charities, government entities and even one banking institution. The firm also works with other businesses.

Delta doesn't have a minimum account size requirement, though there's a minimum annual fee of $3,000. Delta is also a fee-only firm, so there's no potential conflict of interest that might arise from advisors selling financial products on a commission basis. Client-paid fees, which are are based on how much money a client has under management, is the only form of compensation Delta receives. 

Delta's team includes one chartered property casualty underwriter (CPCU), two chartered financial analysts (CFAs) and a certified financial planner (CFP).

Like the first two firms on this list, Delta is also ranked among the top financial advisors in the state by SmartAssset. 

Delta Asset Management Background

Delta Asset Management was founded in 1989 and is one of the oldest firms on our Memphis list. The firm became SEC-registered as an 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 Asset Management provides its clients with investment management and financial planning services. It offers a wrap-fee program through LPL Financial. The firm also manages all of its assets on a discretionary basis.

Delta Asset Management Investment Strategy

Delta Asset Management tailors its investment management services to the needs and objectives of its clients. This process, which is ongoing throughout the client relationship, involves meetings to help advisors determine the client's risk tolerance, liquidity needs and overall financial profile, as well as an specific investment objectives.

Advisors typically use mutual funds, exchange-traded funds (ETFs), stocks, bonds and fixed-income securities to populate client portfolios. They also tend to use a model portfolio that serves as an asset allocation guide. The firm typically invests on a long-term basis.

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Reliant Investment Management is an advisory firm with offices in Memphis and Shreveport, Louisiana. Its team includes financial certifications such as chartered financial analyst (CFA), certified financial planner (CFP) and certified public accountant (CPA). The firm is fee-only, which means it earns income exclusively from client fees.

Reliant requires at least $500,000 to be a client, and it works with individuals, high-net-worth individuals, pension plans, charitable organizations, government entities and corporations. 

Reliant Investment Management Background

Reliant Investment Management was first organized in 2001. Co-founders Susan Huffman and John Huffman and chief compliance officer Lon M. Magness are the principal owners of the firm. The firm provides discretionary investment management and investment consulting services.

Reliant Investment Management Investing Philosophy

Reliant Investment Management applies a number of methods when analyzing securities, including fundamental analysis, technical analysis and charting. The firm aims to discern the overall economic health of a company or entity, rather than focus exclusively on stock price movement.

The practice recommends a range of investments, including but not limited to common stocks, issues convertible into common stocks, bonds, debt securities, option contracts, futures contracts, mutual funds, exchange-traded funds (ETFs) and money-market instruments.

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Green Square Capital Advisors has been in operation since 2001. While company materials state that there’s no minimum asset requirement, many of the firm’s clients are high-net-worth individuals. That means they have a net worth of at least $1.5 million or investable assets of at least $750,000, according to SEC standards. 

The firm also works with pensions, profit-sharing plans, charitable organizations, corporations, businesses and pooled investment vehicles. 

The Green Square team includes one advisor who holds the certified financial analyst (CFA) and chartered alternative investment analyst (CAIA) designations. 

Green Square Capital Advisors Background

Steven Samson, a former Goldman Sachs senior professional, co-founded the firm in 2001 with the goal of being an independent boutique wealth management firm. He is the chairman and has more than 20 years of experience managing client portfolios. Prior to Green Square and Goldman Sachs, he worked for Merrill Lynch.

Samson remains the principal owner of the firm, with John Roach and Michael Bates owning minority states in the business. 

In 2019, the firm changed its name from Green Square Capital, LLC, to Green Square Capital Advisors, LLC. 

As an independent boutique wealth management firm, Green Square focuses its services on providing cash flow oriented investment strategies to its clients. The firm also provides financial planning services, which may include trust and estate planning, retirement planning, cash flow analysis, charitable giving, tax planning and more. 

Green Square Capital Advisors Investment Strategy

Like many other firms, Green Square Capital Advisors constructs and management investment portfolios in accordance with a client's investmetn objectives, time horizon and risk tolerance.

The firm uses statistical analysis and proprietary liability planning tools to identify a client's proper position on the risk/return continuum. Once that is established, advisors typically build asset allocations using mutual funds, exchange-traded funds, individual equity and debit securities, options, separate account managers and private placements in hedge funds or private equity funds. 

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TD Capital offers a wide range of services to cater to the diverse financial needs of its clients. Their services include financial planning and consulting services, personal financial management, education planning, risk management, tax and cash flow management, death and disability planning, retirement planning, investment management and financial consulting services. The firm has no minimum asset requirement in order to work with them. 

TD Capital Background

TD Capital was established in 1996 and is owned by multiple people, including the Nimrod Gordon Thompson Revocable Trust for Membership Interests, Jere Matthews Sights Jr., John R. Harrell, Christopher L. Lacy, Margaret C. Campbell, N. "Rod" Gordon Thompson Jr. , and Jere Matthews Sights III. The firm now boasts nine financial advisors who manage more than $825 million in assets under management (AUM), collectively. The advisors hold certifications such as the certified financial planner (CFP) and the certified public accountant (CPA). 

TD Capital Investment Strategy

TD Capital employs a comprehensive approach to investment strategies, aiming to meet the diverse needs of its clients. They offer both long-term and short-term purchase options, with long-term purchases focused on securities that are expected to grow in value over a period of more than one year, while short-term purchases take advantage of short-term price fluctuations and are often sold within a year.??

The firm primarily invests in a range of assets, including exchange-traded funds (ETFs), mutual funds, individual bonds and individual stocks. When selecting mutual funds and ETFs, TD Capital Management considers various factors such as past performance, fee structure, portfolio manager, fund sponsor, safety ratings and the overall return. 

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Summit Asset Management is a fee-only firm that works with individuals, families, trusts, retirement plans for businesses, charitable endowments and corporations. As a fee-only practice, advisors don’t earn commissions on the sale of financial products.

To engage Summit Asset’s services, you’ll need at least $500,000, the same amount as several other firms on our Memphis list. 

Summit has several certified financial planners (CFPs) on staff, as well as a chartered life underwriter (CLU) and a chartered financial consultant (ChFC). 

Summit Asset Management Background

John N. Laughlin, Lance W. Hollingsworth and Peggy K. Adler are the owners of the firm. Hollingsworth has worked in finance since 1993. Laughlin has worked for Summit since 2001 and is a certified finanical planner (CFP). His industry experience stretches back to 1997.

The firm’s core services are investment management and financial planning. 

Summit Asset Management Investment Strategy

As a client of Summit, you’ll go through a four-step investment process. The first step is articulating and determining your financial goals and objectives. This includes factors such as your time horizon, risk tolerance, tax bracket and income. Each portfolio’s investment mix is tailored to meet your objectives.

Collaborating is the next part of the process. The investment committee is involved with all advisors, ensuring shared knowledge, and advisors work with each other to provide the best mix of services to each client.

Creation and continuity are the two final steps. This is when your advisor constructs your portfolio with investments such as mutual funds, exchange-traded funds (ETFs), stocks and bonds, as well as alternative investments. 

You'll need at least $1 million in investable assets to become a client at Private Wealth Management. Operating since 2002, this fee-only firm has a small team of advisors and a client base of almost exclusively high-net-worth individuals, as you might expect given its steep minimum account requirement. However, the firm also works with a few non-high-net-worth individuals and charitable organizations.

Private Wealth Management does not have a website.

Private Wealth Management Background

Private Wealth Management was founded and is jointly owned by Joseph P. Horner and Scott M. Robbins. While Robbins is a certified financial planner (CFP), both he and Horner have law degrees.

The firm provides investment management, financial planning and tax preparation services to its clients.

Private Wealth Management Investment Strategy

For client portfolios, Private Wealth Management typically looks for mutual funds and exchange-traded funds (ETFs) that align with each client’s investment objectives and risk tolerance. Of course, the firm may invest in a wide range of investment products depending on the wishes or specific circumstances of the client.

Additionally, the firm may select independent money managers to advise clients on some or all of their portfolio. When doing this, the firm examines the manager's historical performance and relationship with risk, as well as his or her investment philosophy and style, making sure these factors align with the client.

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Kelman Lazarov is the 10th and final firm on our list of Memphis financial advisors. At Kelman Lazarov, advisors may also be brokers and/or insurance agents. This makes the firm fee-based, since advisors may collect sales commissions from third-party vendors on top of client fees. These multiple roles can present a potential conflict of interest, though as an SEC-registered investment advisor, Kelman Lazarov has the fiduciary duty always to put clients' interests first.

The firm has no stated minimum to open an account. Kelman Lazarov emphasizes that education and understanding your current financial situation is vital for you to make prudent decision. You can expect a hands-on approach to financial guidance at the firm. 

Advisors and other professionals on staff at Kelman Lazarov hold the following certifications:

• Certified financial planner (CFP)
• Chartered financial analyst (CFA)
• Certified retirement counselor (CRC)

Kelman Lazarov Background

The two namesakes of the firm, president Ron Lazarov and chairman Marty Kelman, have worked in the financial industry since the late 1970s. Lazarov and Kelman are both CFPs, while Kelman also holds the CRC designation.

Kelman Lazarov offers investment management and financial planning, plus retirement planning, consulting services, as well as retirement plan management services.

Kelman Lazarov Investment Strategy

At this firm, asset management is provided on a discretionary basis only and is provided through two programs: the Kelman-Lazarov Traditional Asset Management Program and Kelman-Lazarov Select Asset Management Program.

The Traditional program offers access to Kelman Lazarov's model portfolios, which invest in equities, fixed income and cash, depending on your portfolio. Similarly, the Select program offers model portfolios, but its generally for accounts with less than $250,000 in assets. The portfolios in this program primarily use exchange-traded funds (ETFs) and mutual funds that do not have transaction fees.