Question 1

Where can I find a list of registered financial advisors in Tennessee?

Accepted Answer

To find a list of registered financial advisors in Tennessee, you can utilize our Tennessee advisor directory as the majority of advisors listed there provide a range of services, such as retirement planning, investment management, estate planning, tax planning, insurance planning, and wealth management. The specific services that an advisor offers may depend on their area of expertise, so it's important to find an advisor whose services align with your needs and financial goals. Additionally, you may use the WiserAdvisor free match tool to connect with 2-3 registered and vetted financial advisors matched to your specific financial needs and objectives.

Question 2

How can I check if a financial advisor in Tennessee has any disciplinary actions or complaints filed against them?

Accepted Answer

To check if a financial advisor in Tennessee has any disciplinary actions or complaints filed against them, you can use the Financial Industry Regulatory Authority's (FINRA) BrokerCheck tool. This tool enables individuals to complete a thorough background check on financial professionals like brokers, brokerage firms, financial advisors, investment advisors, advising firms, etc. The detailed information provided through BrokerCheck includes their employment history, certifications, licenses, and active or past violations within the last ten years so that you can make an informed decision while hiring an advisor. We recommend using this guide to know how to use BrokerCheck to evaluate a financial advisor&rsquo;s credentials.

Question 3

What questions should I ask a potential financial advisor in Tennessee during the initial consultation?

Accepted Answer

During the initial consultation with a potential financial advisor in Tennessee, it's recommended to ask them about their experience, areas of expertise, investment philosophy, fee and compensation methods, and their approach to financial planning. You should also ask about their fiduciary duty, which means they are legally and ethically bound to act in your best interests. It's important to choose an advisor who communicates clearly and transparently and whose values align with your own. To further understand if a financial advisor is best suited to your financial needs, consider using the following 10 Key Questions You Should Ask Your Financial Advisor.

Question 4

How much does it cost to hire a financial advisor in Tennessee?

Accepted Answer

The cost of hiring a financial advisor in Tennessee varies depending on the advisor's experience, services, and fee structure. Some advisors charge a percentage of assets under management, ranging from approx. 1.02% or a fixed rate of approx. $7,500 and above. Meanwhile, other advisors charge an hourly rate, fee-based, or solely earn a commission from financial product sales. It's important to understand the advisor's fee structure and any potential conflicts of interest before engaging in their services. To get a better understanding of how financial advisors charge and the factors influencing their fees, read more on what are the costs of hiring a financial advisor.

Question 5

What kind of certifications should I look for when choosing a financial advisor in Tennessee?

Accepted Answer

When choosing a financial advisor in Tennessee, look for some common credentials like Certified Financial Planner (CFP), Chartered Financial Analyst (CFA), or Chartered Financial Consultant (ChFC). These designations indicate that the advisor has undergone certified training in the field as a financial advisor and is committed to keeping your best interests a priority. To ensure you are making an informed decision while picking an advisor, explore the 6 common financial advisor certifications you need to know. To further explore the various credentials an advisor can hold, read more about advisor designations.

Question 6

How can wealth management services in Tennessee help me achieve my financial goals?

Accepted Answer

By working with an advisor who specializes in providing wealth management services, you can receive assistance in achieving your financial goals through personalized and comprehensive financial planning. The advisor can work closely with you to set clear objectives and devise a tailored financial plan encompassing investment management, tax planning, and risk management strategies. They also will regularly review and adjust the plan to accommodate changing circumstances and market conditions. To further explore how financial advisors listed on our directory for the state of Tennessee can support you, learn more about the different types of financial advisors and their areas of expertise.

Question 7

Are there any specific retirement planning strategies or options available to Tennessee residents?

Accepted Answer

Yes, Tennessee residents have access to a range of retirement planning strategies and/or options. They can participate in employer-sponsored plans like 401(k)s or 403(b)s, Roth IRAs, and state pension plans. Additionally, Tennessee residents can benefit from Social Security benefits, annuities, Health Savings Accounts (HSAs), and diverse investment accounts to further enrich retirement plans. If you are seeking to learn more about how a financial advisor can help in tailoring retirement strategies that align with your personal circumstances and state-specific regulations to secure your financial future in retirement, learn more about why you should hire a retirement advisor.

Question 8

How can I determine the ideal retirement age and the timeline for my financial situation in Tennessee?

Accepted Answer

To determine the ideal retirement age and the timeline for your financial situation in Tennessee, several factors should be considered. Begin by assessing your current financial health, including savings, investments, and any employer-sponsored retirement plans. You also want to consider your anticipated Social Security benefits, desired lifestyle in retirement and expenses, and factors regarding your health and family longevity. To learn more about how to ensure your retirement is aligned with your financial capabilities and aspirations, learn more about the 6 important factors to assess your retirement readiness.

Question 9

What should I look for when choosing a financial advisor in Tennessee?

Accepted Answer

When choosing a financial advisor in Tennessee, you should consider factors including qualifications, years of relevant experience, method of compensation, and services offered. Additionally, it's important to ensure that an advisor has the necessary licenses and registrations with trusted regulatory organizations such as the Financial Industry Regulatory Authority (FINRA), the Securities and Exchange Commission (SEC), or the Tennessee State Securities Board. To learn more, read the guide on how to use FINRA's BrokerCheck tool to evaluate a financial advisor&rsquo;s credentials.

Question 10

What should I expect from working with a financial advisor in Tennessee?

Accepted Answer

When working with a financial advisor in Tennessee you can expect personalized guidance in managing your finances, setting goals, and creating a comprehensive financial plan. They will provide objective advice and help you navigate complex financial matters. Additionally, they will assist you in making informed investment decisions to optimize your financial well-being and strive to help you achieve your financial objectives. If you are considering working with a financial advisor, read more to explore what a financial advisor can do for you.

Question 11

How can a retirement planning advisor in Tennessee help me optimize my Social Security benefits?

Accepted Answer

A retirement planning advisor in Tennessee can provide valuable guidance on optimizing your Social Security benefits by analyzing your unique financial situation. They can help you determine the most advantageous age to start claiming benefits based on factors such as your expected lifespan, other sources of income, and individual goals. They'll consider how working during retirement and potential tax implications might impact your benefits. Through careful analysis and personalized strategies, they can assist you in making informed decisions that maximize your Social Security benefits over the long term. To learn more about how you can further benefit from the help of a retirement planner, explore why you should hire a retirement advisor.

Question 12

Can a financial advisor help me develop a comprehensive retirement income plan that takes into account my investments, pensions, and other income sources specific to Tennessee?

Accepted Answer

Yes, a financial advisor can help you create a comprehensive retirement income plan that considers your investments, pensions, and various income sources, tailored to Tennessee's specific financial landscape. They'll analyze your current financial situation, assess your retirement goals, and provide strategies to optimize income generation, manage taxes, and ensure long-term financial security, all while adhering to state-specific regulations and considerations.

Question 13

How often should I meet with my financial advisor in Tennessee

Accepted Answer

How often you should meet with your financial advisor may depend on your specific financial situation and goals. For complex finances, you may need to meet with your financial advisor weekly or monthly, while for those with regular income and simpler investments, quarterly or annual meetings may be enough. Your advisor can assist in determining the suitable meeting frequency based on your circumstances. Read on to learn more about how often you should meet with your advisor.

Financial Advisor	Experience	AUM	Minimum Assets	Fee Structure
Edelman Financial Engines, LLC12 Cadillac DriveBrentwood, TN 37027	Not Disclosed	$270,770,414,647	Not Specified	Fee-Only
TBH Global Asset Management LLC125 3rd Avenue NorthFranklin, TN 37064	Not Disclosed	$1,108,014,329	$250,000	Not Specified


ALLIANCEBERNSTEIN L.P.Nashville, TN	4565	62140	$651,482,000,000	A percentage of AUM, Subscription fees, Fixed fees, Commission Based, Performance Based
NEPHILA ADVISORS LLCNashville, TN	37	37	$14,371,072,726	Other (COST + 10%)
ARCLINE INVESTMENT MANAGEMENT LPNashville, TN	48	9	$13,961,190,744	A percentage of AUM, Performance Based
FIRST HORIZON ADVISORS, INCMemphis, TN	236	8945	$12,356,541,464	A percentage of AUM, Fixed fees
GERBER/TAYLOR MANAGEMENT LLCMemphis, TN	42	208	$10,409,129,905	A percentage of AUM, Fixed fees, Performance Based
B. RILEY WEALTH ADVISORS, INC.Memphis, TN	457	20038	$7,645,255,735	A percentage of AUM, Hourly charges, Fixed fees
GSV EQUITY HOLDINGS, LLCKnoxville, TN	35	15	$5,914,756,890	Other (CARRIED INTEREST)
SAGESPRING WEALTH PARTNERSFranklin, TN	173	28921	$5,502,859,482	A percentage of AUM, Hourly charges, Fixed fees
SOUTHEASTERN ASSET MANAGEMENT INC.Memphis, TN	25	49	$5,271,901,660	A percentage of AUM, Performance Based
SANFORD C. BERNSTEIN & CO., LLCNashville, TN	0	33	$3,707,000,000	A percentage of AUM, Subscription fees, Fixed fees, Commission Based, Performance Based, Other (SEE SCHEDULE D, MISCELLANEOUS)
WEAVER C. BARKSDALE & ASSOCIATES, INC.Nashville, TN	13	135	$3,592,626,047	A percentage of AUM
HIGHLAND CAPITAL MANAGEMENT, LLCMemphis, TN	19	1038	$3,409,849,227	A percentage of AUM, Performance Based, Other (SUBSCRIPTION FEES)
POINTER MANAGEMENT, LLCChattanooga, TN	16	6	$3,036,041,800	A percentage of AUM, Performance Based
THOROUGHBRED FINANCIAL SERVICES, LLCBrentwood, TN	34	6330	$2,913,693,892	A percentage of AUM, Fixed fees, Commission Based
PRINCIPAL STREET PARTNERS, LLCMemphis, TN	12	724	$2,872,187,942	A percentage of AUM, Fixed fees, Performance Based, Other (12B-1 FEES)

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