Finding a Top Financial Advisor Firm in Tennessee
You’re not about to entrust your wealth with just anyone. But with so many financial advisors out there, how do you choose one? To help you narrow the field, we did some of the initial research for you, collecting a number of important factors - fundamentals such as assets under management (AUM), fees and investment strategy. Then we put all the info together, here, for convenient comparing and contrasting. Start your search with this list of the top financial advisor firms in Tennessee. Then use SmartAsset’s free financial advisor matching tool to connect with up to three advisors who serve your area.
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|Rank||Financial Advisor||Assets Managed||Minimum Assets||Financial Services||More Information|
|1||InterOcean Capital Group, LLC Find an Advisor||$3,640,605,335||No set account minimum|| || |
Minimum AssetsNo set account minimum
|2||Virtue Capital Management, LLC Find an Advisor||$1,071,516,782||$1,000|| || |
|3||Legacy Wealth Management, Inc Find an Advisor||$2,076,485,493||$500,000|| || |
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|4||Patriot Investment Management Group Inc. Find an Advisor||$1,610,714,866||No set account minimum|| || |
Minimum AssetsNo set account minimum
|5||Waddell & Associates, LLC Find an Advisor||$1,234,758,435||Varies based on account type|| || |
Minimum AssetsVaries based on account type
|6||Beacon Capital Management, LLC Find an Advisor||$711,978,480||$100,000|| || |
|7||Delta Asset Management, LLC Find an Advisor||$1,473,421,564||No set account minimum|| || |
Minimum AssetsNo set account minimum
|8||Woodmont Investment Counsel, LLC Find an Advisor||$1,206,475,156||$1,000,000|| || |
|9||Rather & Kittrell, Inc. Find an Advisor||$1,271,370,168||$500,000|| || |
|10||M Capital Advisors Find an Advisor||$1,157,613,837||Varies based on account type|| || |
Minimum AssetsVaries based on account type
What We Use in Our Methodology
To find the top financial advisors in Tennessee, we first identified all firms registered with the SEC in the state. 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:
- AUMFirms with more total assets under management are ranked higher.
- Individual Client CountFirms who serve more individual clients (as opposed to institutional clients) are ranked higher.
- Clients Per AdvisorFirms with a lower ratio of clients per financial advisor are ranked higher.
- Age of FirmFirms that have been in business longer are ranked higher.
All information is accurate as of the writing of this article. This list may include firms that have a business relationship with SmartAsset, in which SmartAsset is compensated for lead referrals. Such relationships have no impact on our rankings, and firms are included and ranked based strictly on the above criteria.
InterOcean Capital Group, LLC
InterOcean Capital Group is a fee-only firm which works with high-net-worth individuals almost exclusively, though there are a few non-high-net-worth individual clients at the firm, alons with some charitable organizations and pension/profit sharing plans.
Fees at InterOcean are based on a percentage of assets under management, though sometimes a flat annual fee may be charged. There is technically no account minimum stated, but the high preponderance of high-net-worth clients may imply that the firm generally takes on fairly large accounts.
The firm's team has earned certifications including certified financial planner (CFP), chartered financial analyst (CFA), certified public accountant (CPA) and chartered financial consultant (ChFC).
InterOcean Capital Group Background
InterOcean Capital Group Investment Strategy
- Large cap equity
- Equity income and option
- Equity hedge
- Global ETF
- Tactical Diversifying
- Customized Investment Strategies
Virtue Capital Management
Virtue Capital Management works with a ton of individual clients, the majority of which do not have a high net worth. Other clients include high-net-worth individuals, pensions, profit sharing plans, charities and other businesses. The firm has a $1,000 minimum account size requirement.
Since some advisors can earn commisisons from selling financial products, Virtue is considered fee-based. Despite this potential conflict of interest, the firm is a fiduciary. This makes it legally obligated to act in the best interests of clients at all times.
Virtue Capital Management Background
Virtue Capital Management was founded in 2013. It registered with the SEC as an investment advisor one year later, after previously being registered with a number of individual states. Virtue Financial Holdings, LLC is the firm's 100% owner, though Jeremy Rettich, Matthew Rettich and James Webb own Virtue Financial Holdings. Jeremy and Matthew are the firm's control persons.
Virtue provides clients with asset management and financial planning services.
Virtue Capital Management Investment Strategy
Virtue Capital Management's asset management services are provided on a continuous and tailored basis. Advisors work with clients one-on-one to determine their financial situation, including factors such as risk tolerance, liquidity needs and overall investment objectives. From there, individualized investment strategies can be created.
Advisors at Virtue use tactical, strategic and dynamic methods of analysis to help inform investment decisions. They may use a variety of data sources and invest client assets across a wide range of securities.
Legacy Wealth Management
Second on our list is Legacy Wealth Management. Its team includes certified financial planners (CFPs), MBAs, certified financial analysts (CFA), JDs and lots more (Advisors may have multiple accreditations).
At the fee-only Memphis firm, most of the individual client base are people who do not have a high net worth. Legacy Wealth also serves pensions, profit-sharing plans, corporations, charities and municipal government entities. The minimum investment is generally $500,000.
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 of clients, commitment to honesty and integrity, compassion and culture. The practice is currently owned by its employees, including President and CEO Jim Isaacs and Managing Director Duncan Miller.
Legacy Wealth offers portfolio management and financial planning. It can provide guidance in such areas as cash flow, debt management, budgeting, risk management, education planning, tax planning, retirement planning, early retirement-offer evaluations, deferred compensation planning and estate planning.
Legacy Wealth Management Investing Strategy
Legacy Wealth Management is a proponent of globally diversified portfolios, stating on its website its belief that “a diversified portfolio is a sound portfolio.” Most client portfolios are invested in stocks, bonds, mutual funds and ETFs. Services tend to be tailored to the individual financial situation of each client.
Patriot Investment Management Group
Located in Knoxville, Patriot Investment Management Group is next on our Tennessee list. Its team includes several certified financial planners (CFPs), along with certifications such as certified public accountant (CPA) and chartered financial analyst (CFA). (Advisors may have multiple professional accreditations.)
With no minimum investment required, the vast majority of the fee-only firm’s clients are non-high-net-worth individuals. It also serves pension and profit-sharing plans and charitable organizations.
Patriot Investment Management Group Background
Patriot Investment Management Group has been providing investment advisory services since 1992. It’s principally owned by Brad Bower, the firm’s president and CEO.
Patriot Investment Management 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, as well as 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 Investment Strategy
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." It emphasizes diversification and asset allocation. It eschews market timing, and argues that actively managed funds have historically underperformed and resulted in higher fees. The firm primarily builds client portfolios with index funds, which align with the firm's emphasis on cost efficiency.
Waddell & Associates
Fee-only Waddell & Associates has a main office in Memphis and a branch in Nashville. The team of advisors at the firm includes a handful of advisory certifications, including certified financial planner (CFP) and chartered financial analyst (CFA).
About a quarter of the individual client base is high-net-worth individuals. The rest are non-high-net-worth individuals. The firm also serves corporate pension and profit-sharing plans, charitable institutions, foundations, endowments and corporations. There is a $500,000 investment minimum, though the robo-advisor account minimum is $5,000.
Waddell & Associates Background
CEO David Waddell founded his namesake firm in 1986. He and two other employees have small stakes, but the majority owner is Focus Financial Partners, LLC, a public company traded on the NASDAQ Global Select Market.
The practice offers investment management, robo-advisor services, financial planning and consulting. It also provides employee benefit retirement plan services to 401(k) pension plan trustees.
Waddell & Associates Investment Strategy
As a client of Waddell & Associates, 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 no-load mutual funds, ETFs, individual securities, money market funds and CDs, corporate bonds, U.S. treasury bonds and municipal bonds.
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.
Beacon Capital Management is a fee-based firm based in Franklin, with another office in Brentwood. Some of the advisors at the team are also insurance agents and broker-dealers, meaning they can earn commissions. This is a conflict of interest, but all advisors are bound to act in the best interest of the client. Some of the advisors on staff at Beacon are certified financial planners (CFPs).
Most of the clients at the firm are individuals, the majority of whom do not have a high net worth. The only institutional clients are chartiable organizations and corporations.
The minimum account size is $100,000.
Beacon Capital Management Background
Beacon Capital Management Investment Strategy
Delta Asset Management
The next firm up on our list of the top financial advisors in the state of Tennessee is Delta Asset Management, a large, Memphis-based firm. This firm works with a pretty diverse client base. Of its individual clients, less than half are high-net-worth individuals. It also works with a number of institutional clients, such as pensions, profit sharing plans, charitable organizations, government entities, businesses and corporations.
Delta does not have a minimum account size requirement. It is a fee-only firm, so advisors don't earn any commissions that could create a conflict of interest.
Delta Asset Management Background
Delta Asset Management was founded in 1989, making it one of the oldest firms on our list. While it's been in business ever since, it only became an SEC-registered 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 provides its clients with investment advisory services such as portfolio management and financial planning services.
Delta Asset Management Investment Strategy
Delta Asset Management works with clients to provide tailored investment services. This process involves meeting with clients to determine their risk tolerance, time horizon, liquidity needs and overall financial situation. Advisors form a model portfolio that they use as an allocation guide.
The firm primarily uses long-term purchases to help drive growth in client portfolios. Advisors may use a wide range of different investments, depending upon the specific client and their situation and goals.
Woodmont Investment Counsel is a fee-only firm where the minimum account size is $1 million. The firm works mostly with individuals, the vast majority of whom qualify as high-net-worth. Institutional clients include pension and profit sharing plans, charitable organizations and corporations.
The team at Woodmone has earned certifications including chartered financial analyst (CFA) and certified financial planner (CFP).
Fees are based on a percentage of assets under management.
Woodmont Investment Counsel Background
Woodmont Investment Counsel Investment Strategy
Rather & Kittrell
Located in Knoxville, Rather & Kittrell specializes in serving those who are going through transitions. Its clients include individuals, families, businesses, banks, pensions, profit-sharing plans, charities, state governments and businesses. Less than half of its individual clients are high net worth individuals, with the rest being non-high-net-worth. The fee-based firm has an account minimum of $500,000.
The team at Rather & Kittrell includes a handful of certified financial planners (CFPs). Other certifications include certified public accountant (CPA), certified investment management analyst (CIMA) and accredited investment fiduciary (AIF).
Rather & Kittrell Background
Rather & Kittrell started in 2000 as a “two-desk business.” It’s indirectly owned (through RK Holdings, Inc.) by the firm's co-founders, Lytle Rather and Christian Kittrell. Both still work at the practice. Jeff Hall, Matt Grabeel and Greg McMurry are minority owners of RK Holdings, Inc.
Investment management services are on a fee basis, but advisors who are registered representatives of broker-dealers or insurance agents may receive commissions in their other capacities. In addition to portfolio management and insurance, the firm offers financial planning and consulting.
Rather & Kittrell Investment Strategy
For its discretionary accounts, Rather & Kittrell typically relies on its model allocations, which offer several 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.
M Capital Advisors
M Capital Advisors (aka Mastrapasqua Asset Management) is a fee-only firm working mainly with individuals, more than 50% of whom qualify as high-net-worth. Institutional clients includ pension and profit sharing plans, charitable organizations and corporations.
Advisors at the firm have earned certifications including chartered financial analyst (CFA), certified financial planner (CFP) and chartered alternative investment analyst (CAIA).
The minimum account size varies based on account type. Fees are based on a percentage of assets under management.