Tennessee RIA Landscape — 2025

A data-driven overview of SEC-registered wealth advisory firms headquartered in Tennessee, including growth trends, succession risk analysis, and M&A opportunity signals.

Source: SEC Form ADV · Updated Q4 2024

Total Firms

260

Total AUM?

$922.1B

Median AUM

$293M

13F Filers

58

AUM Tier Distribution

Under $100M39

$100M–$500M131

$500M–$1B34

$1B–$5B48

$5B+8

State Snapshot

Total Firms260

Total AUM$922.1B

Median AUM$293M

13F Filers58

High Succession Risk43

Elevated Succession Risk32

Succession Risk Breakdown

High

43 firms (17%)

Elevated

32 firms (12%)

Moderate

51 firms (20%)

Lower

131 firms (51%)

Growth Leaders — Wealth Advisory Firms

Firm	City	AUM	3Y CAGR	Succession
RUBICON FOUNDERS LLC	NASHVILLE	$2.1B	+85.7%	Lower
JCAP ADVISORS, LLC	MEMPHIS	$590M	+77.8%	Lower
FTB ADVISORS, INC.	MEMPHIS	$3.4B	+75.5%	Lower
DUNCAN WILLIAMS ASSET MANAGEMENT, LLC	MEMPHIS	$2.2B	+61.6%	Moderate
BPV CAPITAL MANAGEMENT, LLC	KNOXVILLE	$400M	+48.9%	Lower
CARTER-HASTON INVESTMENT PARTNERS II GP, LLC	NASHVILLE	$320M	+34.5%	Lower
FIELDER CAPITAL GROUP LLC	NASHVILLE	$1.1B	+33.9%	Lower
LFM CAPITAL, LLC	NASHVILLE	$1.4B	+33.2%	Lower

M&A Opportunity Signals

🎯

71Acquisition candidates

Firms with elevated/high succession risk and AUM $100M–$5B

📈

32Growing but vulnerable

Positive 3Y CAGR with high succession risk — attractive for acquirers

📉

10Mid-market shrinking

AUM $100M–$1B with negative 3Y CAGR and elevated+ succession risk

🔒 Top 25 Acquisition Targets — Ranked by Composite Score

Rank	Firm	AUM	Score
1	SHAYNE & JACOBS, LLC	$562M	48.5
2	TYNER CAPITAL MANAGEMENT INVESTMENT COUNSEL, INC.	$228M	44.8
3	SILVERLEAFE CAPITAL PARTNERS, LLC	$436M	44.8
4	HIGHLAND CAPITAL MANAGEMENT, LLC	$3.5B	43.5
5	ASHDON INVESTMENT MANAGEMENT, LLC	$403M	43.3
6	PATTEN AND PATTEN, INC.	$2.1B	42.4

🔒

Acquisition Target Rankings

Full ranked list of 25 acquisition targets with composite scores based on succession risk, growth trajectory, and peer benchmarking.

Methodology. This report covers SEC-registered investment advisers classified as wealth advisory firms (filter: is_wealth_advisory = true) headquartered in Tennessee. AUM figures are drawn from the most recent Form ADV filing. Succession risk tiers are computed using a proprietary 5-pillar model incorporating founder tenure, ownership concentration, AUM dependency, team depth, and filing recency. Growth CAGR is calculated from the three most recent annual filings where available. Acquisition scores blend succession risk (40%), AUM growth trajectory (35%), and national peer rank (25%). Data sourced from SEC EDGAR. This page is for informational purposes only and does not constitute investment advice.