Patriot Investment Management Group. is a large firm headquartered in Knoxville, Tennessee. It occupies the top spot on SmartAsset's rankings of the top financial advisors in Knoxville, and it also appears on our list of the top financial advisors in all of Tennessee. It handles client assets on both a discretionary and non-discretionary basis.
While Patriot mainly works with individual clients, it also provides services to charities and other institutional clients. The firm has services across financial planning, consulting and investment portfolio management.
This is a fee-only advisory operation, which means the only way that Patriot Investment Management Group earns income is through the fees that clients pay. This is different from a fee-based firm, which may also receive outside forms of compensation like insurance sales commissions.
Patriot Investment Management Group Background
Patriot Investment Management Group has been in business since 1992, though it didn't begin providing investment advisory services until 1998. Brad Bower and J. Taylor Wortham are the principal owners of the firm.
Bower is a certified financial planner (CFP), but he isn't the only advisor here with certifications to his name. The staff includes multiple CFPs, a certified kingdom advisor (CKA), a certified public accountant (CPA), a chartered financial analyst (CFA) and a certified personal retirement specialist (CPRS). Wortham holds FINRA's Series 65 license.
Patriot Investment Management Group Client Types and Minimum Account Sizes
Patriot Investment Management Group mainly serves individuals. The vast majority of these clients do not have a high net worth. Other clients of the firm include pension and profit-sharing plans, trusts, estates and charitable organizations.
This firm does not adhere to a specific minimum investment or minimum account size requirement. However, the firm reserves the right to terminate accounts that it thinks have become too small to manage effectively.
Services Offered by Patriot Investment Management Group
Patriot Investment Management Group views itself as the "quarterback of your financial team," according to its website. This means that in addition to providing financial planning, consulting and investment portfolio management, advisors will also coordinate with their clients' accountants, attorneys and other professionals.
The firm's discretionary investment management services are tailored to the individual needs of each client. The firm's financial planning services may relate to the following topics:
- Risk management
- Insurance analysis
- Asset allocation planning
- Portfolio allocation and management planning
- Tax planning
- Education fund planning
- Retirement planning
- Estate planning
- Trust management
Patriot Investment Management Group Investment Philosophy
Patriot Investment Management Group tailors all of its investment management and financial planning services to the personal needs and goals of clients. Your advisor will take note of your risk tolerance, desired time horizon, liquidity needs, investment history and more. Advisors use this information to develop a customized investment strategy for you, all while monitoring and making changes to your portfolio when necessary. The firm places significant emphasis on portfolio diversification and asset allocation planning, choosing to avoid market-timing strategies.
The firm invests client assets in a multitude of securities, such as bonds, mutual funds, exchange-traded funds (ETFs), stocks and more. No investments are technically off-limits at this firm, meaning advisors will consider all options when crafting clients' portfolios. Patriot Investment Management Group typically uses fundamental and cyclical methods of analysis, though tax efficiency isn't necessarily prioritized.
Fees Under Patriot Investment Management Group
Patriot Investment Management Group charges fees for its portfolio management services based upon a percentage of each client's total assets under management (AUM). Though they're shown in annual rates, the firm charges these fees on a quarterly basis, in advance.
| Portfolio Management Fees | |
| Account Size | Annual Fee |
| First $50K | 1.50% |
| $50K - $500K | 1.00% |
| $500K - $1MM | 0.75% |
| $1MM and up | Negotiable |
Here's what your costs might look like if you decide to work with this firm:
| *Estimated investment management fees do not include brokerage, custodial, third-party manager or other fees, which can vary in amount. | |
| Estimated Investment Management Fees at Patriot Investment Management Group* | |
| Your Assets | Patriot Investment Management Group Fee Amounts |
| $500K | $5,250 |
| $1MM | $9,000 |
| $5MM | Negotiable |
| $10MM | Negotiable |
Financial planning come in either a fixed or hourly fee structure. Hourly fees range from $150 to $300, and fixed fees can be anywhere from $500 to $3,000.
What to Watch Out For
Patriot Investment Management Group doesn't have any disclosures listed on its Form ADV.
Opening an Account With Patriot Investment Management Group
If you're interested in opening an account with Patriot, you can email the firm at info@patriotinvestment.com or fill out the contact form on its website. The firm is also available over the phone at (865) 777-2479.
All information is accurate as of the writing of this article.
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