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Red Door Wealth Management Review

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This review was produced by SmartAsset based on publicly available information. The named firm and its financial professionals have not reviewed, approved, or endorsed this review and are not responsible for its accuracy. Review content is produced by SmartAsset independently of any business relationships that might exist between SmartAsset and the named firm and its financial professionals, and firms and financial professionals having business relationships with SmartAsset receive no special treatment or consideration in SmartAsset’s reviews. This page contains links to SmartAsset’s financial advisor matching tool, which may or may not match you with the firm mentioned in this review or its financial professionals.

Red Door Wealth Management is a financial advisor firm located in Memphis, Tennessee. The firm works mostly with non-high-net-worth and high-net-worth individuals, but it also advises several pension plans and pooled investment vehicles.

The firm was founded in 2010 by four of its advisors, and it has since grown to offer investment advisory services to hundreds of clients. Red Door Wealth Management provides a range of advisory, planning and consulting services to its clients, tailoring everything to each client’s objectives and preferences.

Red Door Wealth Management Background

Red Door Wealth Management was founded in 2010 by Fred Hiatt, John Phillips V, Doug Wright and Jud Cannon. All four founders are still current owners. William Allen and John C. Giovannetti are also owners. The firm works with each client to establish a portfolio, financial plan or retirement plan that makes sense for that client’s timeline, financial goals and risk tolerance. 

Red Door Wealth Management Client Types and Minimum Account Sizes

Red Door Wealth Management works with individuals, high net worth individuals and pension and profit-sharing plans. It also serves a number of pooled investment vehicles.

Generally, Red Door Wealth Management doesn’t maintain an account minimum for advisory accounts.

Services Offered by Red Door Wealth Management

Red Door Wealth Management offers the following range of advisory and consulting services to its clients:

  • Portfolio management services
  • Financial planning services
    • Retirement planning
    • Estate planning
    • Education planning
    • Charitable gift planning
    • Insurance needs analysis
  • Advisory consulting services
  • Family office and wealth planning services
    • Cash flow management
    • Tax minimization strategies
  • Pension consulting services

Red Door Wealth Management Investment Philosophy

When analyzing securities, Red Door Wealth Management uses a mix of technical analysis, fundamental analysis and modern portfolio theory. The firm primarily recommends a mix of exchange-traded funds (ETFs), mutual funds, stocks, bonds, option contracts, certificates of deposit (CDs), U.S. government securities, real estate limited partnerships, money market funds, real estate, and real estate investment trusts ("REITs").

Fees Under Red Door Wealth Management

Red Door Wealth Management charges fees for asset management services according to the following fee schedule. These fees are billed and paid quarterly in arrears.

Fee Schedule for Managed Accounts*
Assets Under Management Fee Rate
First $1,000,000 1.25%
$1,000,000 - $2,000,000 0.75%
Over $2,000,000 0.50%

Financial planning fees are generally negotiable and usually are between $1,000 and $20,000. The first half of the fee is due in advance, and the other half will be due after the plan has been completed. The table below shows how Red Door Wealth Management's fees come out in actual dollar amounts. Remember that these are only estimates and actual fees may vary.

*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 Red Door Wealth Management*
Your Assets Red Door Wealth Management Fee Amounts
$500K $6,250
$1MM $12,500
$5MM $35,000
$10MM $60,000

What to Watch out For

There are no disclosures present on Red Door Wealth Management's SEC-filed Form ADV.

Opening an Account With Red Door Wealth Management

To start the process with Red Door Wealth Management, you can get in touch in a number of ways. You can call the office or send an email. If you prefer to do things in person, you can also stop by the office on Ridge Lake Boulevard.

All information is accurate as of the writing of this article.

Tips for Finding a Financial Advisor

  • Finding the right financial advisor that fits your needs doesn’t have to be hard. SmartAsset's free tool matches you with financial advisors in your area in 5 minutes. If you’re ready to be matched with local advisors that will help you achieve your financial goals, get started now.
  • The first step in your retirement saving process is knowing what your future expenses might be. Our retirement calculator can help you determine how much you’ll need to save depending on where you want to retire, the age you retire and other important factors.

How Long $1mm Lasts in Retirement

SmartAsset's interactive map highlights places where $1 million will last the longest in retirement. Zoom between states and the national map to see the top spots in each region. Also, scroll over any city to learn about the cost of living in retirement for that location.

Least
Most
Rank City Housing Expenses Food Expenses Healthcare Expenses Utilities Expenses Transportation Expenses

Methodology We analyzed data on average expenditures for seniors, cost of living and investment returns to determine how many years of retirement a $1 million nest egg would cover in cities across America.

First, we looked at data from the Bureau of Labor Statistics (BLS) on the average annual expenditures of seniors. We then applied cost of living data from the Council for Community and Economic Research to adjust those national average spending levels based on the costs of each expense category (housing, food, healthcare, utilities, transportation and other) in each city. Using this data, SmartAsset calculated the average cost of living for retirees in the largest U.S. cities.

We assumed the $1 million would grow at a real return (interest minus inflation) of 2%. Then, we divided $1 million by the sum of each of those annual numbers to determine how long $1 million would cover retirement expenses in each of the cities in our study. Cities where $1 million lasted the longest ranked the highest in the study.

Sources: Bureau of Labor Statistics (BLS), Council for Community and Economic Research