Find a Financial Advisor in Davidson County

Davidson County at a glance

In 1963 the city of Nashville and Davidson County merged into one metropolitan government, so the county figures describe Nashville and a few small separate cities inside it. According to the U.S. Census Bureau, 2020 to 2024 American Community Survey, median household income is $77,853 and per capita income is $50,640. The median home value is $417,400, median gross rent is $1,582 a month, and owners with a mortgage pay a median of $1,910 a month. Only 52.8 percent of homes are owner occupied. The median age is 34.6, 12.9 percent of residents are 65 or older, and 48.4 percent of adults hold a bachelor’s degree or higher. Unemployment in the survey period was 4.5 percent, and the 2025 population estimate is 745,904.

This is a county of renters and early career workers, with a bachelor’s degree rate near half of adults. Prices rose fast over the last decade, so planning has to balance paying rent today against building enough for a down payment.

Why a county wide view fits a metro government

Davidson County is not a place with one downtown and a ring of suburbs that have their own governments. Most residents live in the Metropolitan Government of Nashville and Davidson County, known as Metro, and a handful of smaller cities such as Belle Meade, Berry Hill, Forest Hills and Oak Hill keep their own governments within it. Goodlettsville sits partly in the county. For money questions this matters in two ways. Property tax rates are set by Metro, with a separate rate for areas that receive more services, and many public employees, teachers and police officers are part of the Metro pension and benefit system.

That is why this page looks at the whole county. If you live in a condo in the Gulch, a house in Inglewood or a townhome in Antioch, the same tax assessor, school system and flood and weather risks apply to you.

Financial advisors in Davidson County

An advisor gives structure to your choices. A nurse at a hospital may want to know how to use a 403(b). A software worker who moved from California may need help sorting equity pay. A songwriter with royalty checks every quarter may need a plan for taxes and a cash cushion.

Costs vary. Some advisors take a share of assets, some charge a flat fee or hourly rate, and some are paid commissions. Ask for the total yearly cost in dollars. Advisors who serve the Davidson County area meet clients by phone or video, and the first conversation is free.

Health care, music and the Nashville job market

Nashville is known for music, and health care may matter more to the local economy. HCA Healthcare is headquartered here, Vanderbilt University Medical Center is one of the largest employers in the region, and many of the hospital systems and health services companies in Middle Tennessee have offices in the county. The music business, from Music Row to studios, publishers and venues, supports songwriters, session players, engineers and managers. Tourism, hospitality and event work bring in a large service workforce. Universities such as Vanderbilt, Belmont, Lipscomb, Fisk, Tennessee State and Meharry add jobs and students. Dollar General has its headquarters in Goodlettsville, and other large firms have set up regional offices in the county.

For planning, the mix points to two kinds of households. One group has steady salaries and benefits, and the question is how to use them well. The other has uneven income, such as freelancers, musicians, restaurant workers paid in tips and short term contract employees. They need a larger emergency fund, a plan for self employment taxes and a way to save in good months for lean ones. Our budgeting and saving guide is a place to start.

Income that arrives unevenly: royalties, tips and self employment

A songwriter in East Nashville may earn nothing for months and then receive a large royalty payment. A server downtown may take home tips in cash and card, and a session musician may be paid by the gig. Each of these workers needs rules. Set aside a percentage of every payment for taxes, since there is no employer withholding. Pay estimated taxes each quarter if you are self employed. Keep six to twelve months of expenses in cash, because a slow season or an illness can stop income suddenly.

Retirement saving is still possible. Self employed workers can use accounts such as a solo 401(k) or a SEP IRA, which may allow larger contributions than a regular IRA. Health insurance, disability coverage and life insurance matter more here, because no employer provides a safety net. Confirm limits and rules with a tax professional.

Financial planners in Davidson County

A planner puts your income, debts, insurance, savings and goals into a single written plan. It suits a young couple in Donelson saving for a first home, a nurse in Hermitage weighing student loan payoff against saving, or a divorced parent in Bellevue starting again.

Ask for a sample plan, check for the CFP designation, and learn whether the planner charges a flat fee, an hourly rate or a monthly subscription. Some planners work with younger clients on smaller budgets for a modest fee, and that can pay off, since early habits last. Our financial advisors guide lists questions to ask.

Retirement planning in Davidson County

With 12.9 percent of residents age 65 or older, the county is younger than most, but older neighborhoods such as Green Hills, Belle Meade and Hillsboro have many retirees. Tennessee does not tax wages, and the state’s tax on interest and dividend income, known as the Hall tax, was repealed, which helps retirees who live off investments. Sales tax is high and groceries are taxed, and property tax continues in retirement, so build both into your budget. Tennessee also has no inheritance tax. Rules change, so confirm current terms.

For a state or Metro employee, retirement means studying the pension formula, the benefit options and how the pension coordinates with Social Security. For a private sector worker, it means 401(k) balances and a decision about when to claim Social Security. A couple in Hermitage, both 60, with a Metro pension and a modest IRA, can compare retiring at 62 versus 65 with an advisor and see how health insurance costs before Medicare change the answer. Our retirement planning guide lays out the steps.

Curious what retirement could look like?

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Rent, buying and the price of staying

Only about half of homes in Davidson County are owner occupied, and rent runs about $1,582 a month at the median. For renters, the choice is whether to keep paying rent or to buy as prices stay high. A rule of thumb is to buy only if you plan to stay for several years, have a down payment and a cash reserve after closing, and can afford the full monthly cost, which includes taxes, insurance and repairs.

Property values in Nashville rose quickly, and periodic reappraisals by the county assessor changed tax bills. Homeowners can appeal an assessment, and older or disabled homeowners may qualify for tax relief programs, which are worth confirming with the Metro trustee or assessor. Some investors buy houses in the county to rent short term to visitors. Short term rental rules and permits in Metro are strict and have changed several times, so anyone planning to buy for that purpose should confirm the current regulations and tax treatment first.

How to choose a financial advisor in Davidson County

Be clear about the job first. A single plan, an ongoing portfolio manager and an insurance specialist each do different work.

• Ask if the advisor puts your interest first at all times and get that in writing.
• Insist on seeing the yearly cost in dollars as well as a percentage.
• Check the advisor in public regulator databases.
• Find out whether they work often with people like you: musicians, medical staff, public employees or business owners.
• Choose how you want to communicate and confirm response times.

Be cautious with people who talk about sure things. Our investing guide can help you test what you hear.

Wealth management in Davidson County

Wealth management combines investing, tax planning, insurance and estate planning. In Davidson County it can fit a physician or hospital executive, an artist or songwriter with a valuable catalog, an entrepreneur in a growing company, or a family in Belle Meade or Forest Hills with an inherited estate.

A music catalog is an unusual asset: it produces royalties, may be sold, and needs to be handled in an estate plan. Ask whether a wealth manager has worked with intellectual property and royalty income. Ask for minimum assets and how fees change as balances grow. Our estate planning guide outlines the documents most families need.

Investment advisors in Davidson County

An investment advisor manages a portfolio and charges, most often, a share of the assets. A young software engineer in 12 South who has just received stock options needs a different approach than a retired teacher in Inglewood. The first needs guidance on taxes and on not holding too much in one company. The second needs steady income and protection from a large loss early in retirement.

Ask how the advisor chooses investments and what you will pay in total, including fund costs. Low cost diversified funds suit most people. If someone recommends complicated products, ask what they cost and who benefits.

Life insurance in Davidson County

With a young population, many households in the county have children, mortgages or student loans and little cushion. Life insurance can protect them. Term coverage is generally the practical choice, and a person in their early thirties can often buy a large amount for a modest monthly cost. A couple with a $350,000 mortgage and a toddler might pick 20 or 30 years of coverage.

If you work for a hospital or large employer, coverage through work may be a start, but it usually ends when you leave. Self employed workers should consider a policy of their own, along with disability insurance, since a lost paycheck is the larger risk. Our life insurance guide explains the types.

Floods, tornadoes and storm season

Nashville has real weather risk. The flood of May 2010 swamped neighborhoods along the Cumberland River and Mill Creek, and it caused billions of dollars in damage. In March 2020 a tornado cut across parts of North Nashville, Germantown and East Nashville. Heavy spring storms and hail are common, and ice can close roads in winter.

Standard homeowners policies do not cover flood, so check whether your home is in a floodplain and consider separate coverage. Review the wind and hail deductible. Renters should buy renters insurance, which is inexpensive and covers belongings and liability.

Areas we serve in Davidson County

Advisors who serve the Davidson County area meet residents of Nashville by phone or video, from Green Hills, East Nashville, the Gulch, Donelson, Hermitage, Bellevue, Antioch and Madison to the smaller cities of Belle Meade, Berry Hill, Forest Hills and Oak Hill.

Frequently asked questions