Top Financial Advisors in Tennessee

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InterOcean Capital Group is a fee-only firm based in Nashville. InterOcean primarily works with high-net-worth individuals, though there are some non-high-net-worth individual clients at the firm, along with some charitable organizations, government entities and pension and 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 the Certified Financial Planner™ (CFP®), chartered financial analyst (CFA), Certified Public Accountant (CPA), Accredited Investment Fiduciary (AIF) and Chartered Financial Consultant (ChFC) designations. 

InterOcean Capital Group Background

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Legacy Wealth Management, a fee-only firm based in Memphis, has a team that includes Certified Financial Planners™ (CFPs®), MBAs, certified financial analysts (CFA), JDs and other accredited professionals. (Advisors may have multiple accreditations).

Most of the individual client base comprises people who do not have a high net worth, although the firm also works with hundreds of clients who do. 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 Investment 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.

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Virtue Capital Management in Brentwood is next on our list of the top advisors in the Volunteer State. This fee-based practice works with thousands of individual clients, the majority of whom do not have a high net worth. Other clients include high-net-worth individuals, charitable organizations, corporations and other businesses. The firm has a $1,000 minimum account size requirement.

Since some advisors can earn commissions 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 in 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 Rettich are the firm's control persons.

Virtue provides clients with asset management and financial planning services, as well as recommendations for outside advisors. The firm also offers its Retirement Answers 101 Financial Education Course, which is designed to help pre-retirees and retirees better understand the different areas of financial planning required for retirement.

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 investment strategies. 

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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), certified personal retirement specialist (CRPS) 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 high-net-worth individuals, pension and profit-sharing plans, charitable organizations, corporations and other businesses. 

The firm, which is ranked No. 1 on SmartAsset's list of the top firms in Knoxville, earns compensation solely from the asset-based, fixed and hourly fees that clients pay for services. 

Patriot Investment Management Group Background

Patriot Investment Management Group has been providing investment advisory services since 1998. It’s principally owned by president Taylor Wortham and founding partner Brad Bower.

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:

• Retirement planning
• Estate strategies
• Investment management
• Insurance analysis
• Tax saving/reduction strategies
• Philanthropic planning
• Cash flow management
• Debt management
• Educational funding 

Patriot Investment Management Group Investment Strategy

Patriot believes in taking a disciplined, long-term approach to investing. The firm looks to tailor the strategies it recommends to the particular needs and goals of its clients. Patriot relies on low-cost, tax-efficient index funds which the firm says allows them to reduce costs and capture market returns. 

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Rather & Kittrell is a fee-based firm that works with 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. 

Rather & Kittrell advisors may receive commissions when recommending or selling 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 was founded in 2000 as a “two-desk business.” The SEC-registered firm is wholly owned by RK Holdings, Inc., which is principally owned by the firm's co-founders, Lytle Rather and Christian Kittrell. Jeff Hall, Greg McMurry, and Tim Eichhorn are minority owners of RK Holdings, Inc.

The practice offers wealth management services, encompassing investment management, estate planning, tax mitigation, asset protection and charitable giving. 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 Strategy

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 determine 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. 

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Beacon Capital Management is headquartered in Franklin with a branch office in Brentwood. Most advisors on the team are also brokers and licensed insurance agents. This means they can earn commissions, which is a potential conflict of interest. All advisors, though, must act in the best interests of clients. Several are Certified Financial Planners™ (CFPs®).

Most clients do not have a high net worth. To open an investment account, the firm’s initial minimum is $100,000, though it may waive or reduce the requirement at its discretion.

Beacon Capital Management Background

Pete Benson and Jon Maxson co-founded Beacon Capital Management in 2005. Maxson first worked with Benson’s wife, Ginnie, at Bell South Mobility (she’s now the general manager at Beacon).

Beacon Capital offers discretionary investment management services either through or not through third-party investment advisor firms. It includes financial planning as part of its services, though it also provides financial planning on a stand-alone basis. 

Beacon Capital Management Investing Strategy

Based on the client’s profile and goals, Beacon Capital will design diversified portfolios possibly using low-expense-ratio institutional share class mutual funds, exchange-traded funds (ETFs) and individual stocks. In its evaluation of securities, the firm applies fundamental analysis and technical analysis. The strategies of third-party advisors depend on the advisors.

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Red Door Wealth Management is a fee-only firm located in Memphis. The practice works with individuals above and below the high-net-worth threshold, as well as pension and profit-sharing plans, trusts, estates, charitable organizations and pooled investment vehicles.

Red Door does not have a specific minimum dollar amount requirement to open and maintain an advisory account. Fees for portfolio management are based on a percentage of assets under management, while fixed fees may be charged of other services. 

The firm's advisory team features a variety of accredited professionals, including Certified Financial Planners™ (CFPs®), chartered financial analysts (CFAs) and certified public accountants (CPAs), among others. 

Red Door Wealth Management Background

Red Door Wealth Management was established in 2010. The firm is owned by multiple individuals including William F. Hiatt, John Phillips V, Judson W. Cannon, Douglas B. Wright, William D. Allen and John C. Giovannetti.

The firm’s suite of services includes portfolio management and pension consulting, as well as personalized and concierge family office and wealth planning. The latter offerings may include family continuity planning, estate planning and trustee oversight, integrated tax and financial planning, lifestyle management, family philanthropy, risk mitigation and risk management, bookkeeping and accounting, consolidated net worth reporting, family governance, succession planning, and third-party coordination with attorneys and CPAs. 

Red Door Wealth Management Investment Strategy

Red Door Wealth Management utilizes fundamental analysis to evaluate individual companies and their industry groups, determining the true value of their stock compared to the current market value. The firm also employs technical analysis and modern portfolio in its securities selection and investment strategy. 

In terms of typical investments, Red Door invests in a diverse range of assets, including ETFs, mutual funds, stocks, bonds, option contracts, certificates of deposit, US government securities, real estate limited partnerships, money market funds, real estate and REITs.

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Fee-only Waddell & Associates has a main office in Memphis and branches in Nashville and Aspen, Tennessee. The team of advisors at the firm holds a handful of advisory certifications, including the Certified Financial Planner™ (CFP®), Certified Divorce Financial Analyst (CDFA) and Chartered Financial Analyst (CFA) designations. 

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 and chief investment strategist 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.

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 to invest, the firm offers access to its robo-advising platform called W&Ai. This is the Schwab Intelligent Portfolio. Trading and rebalancing are determined by an algorithm. Your money is managed digitally, resulting in lower fees and minimums.

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Woodmont Investment Counsel in Nashville is a fee-only firm with the highest account minimum on this list: $2 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), retirement income certified professional (RICP), certified public accountant (CPA) and Certified Financial Planner™ (CFP®), among others. 

Fees are based solely on a percentage of assets under management. The firm and its advisors do not earn commissions for selling securities or insurance.

Woodmont Investment Counsel Background

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Tennessee Valley Asset Management Partners (TVAMP) is a fee-based firm that primarily serves individuals, including a small percentage of high-net-worth individuals. The firm also works with pension and profit-sharing plans, as well as charitable organizations. A minimum of $100,000 is typically required to open an account, though certain strategies may have different minimums.

TVAMP charges an asset-based fee for portfolio management and also offers a wrap fee program through LPL Financial's Strategic Wealth Management platform. The firm also has a $300 minimum fee for financial planning and consulting services.

As a fee-based firm, TVAMP 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

Founded in 2011, TVAMP is owned by managing members Jeffrey B. Foster, Charles J. Sweat and Scott B. Foster. The firm offers investment management, including through several advisory programs sponsored by broker-dealer LPL Financial, LLC, as well as 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.

Tennessee Valley Asset Management Partners Investment Strategy

The investment management process at TVAMP 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).