Find a Financial Advisor in Shelby County

Shelby County at a glance

According to the U.S. Census Bureau, 2020 to 2024 American Community Survey, Shelby County has a median household income of $63,767, a median home value of $249,100 and a median age of 35.9. About 34.3 percent of adults hold a bachelor’s degree or more, 14.8 percent of residents are 65 or older, and 54.1 percent of homes are owner occupied. Median gross rent is $1,232 a month. The county’s 2025 population estimate is 910,226.

The gap between per capita income and household income tells you something about the county. Many households are small, and many people work in jobs where pay swings from month to month. A good plan starts from that reality, not from a textbook household.

Overnight freight, river barges and a paycheck that moves

Memphis is built around moving things. The airport is home to a massive overnight package sorting operation, trucks and five major railroads cross the county, and the Port of Memphis handles barge traffic on the Mississippi. Warehousing, distribution and trucking employ a great many people across Shelby County, and plenty of them earn a base wage plus overtime, peak season pay or bonuses.

That pattern creates specific planning problems. A worker who clears a good number in December and a thin one in March needs a cash cushion sized to the thin month. Someone paid by the load or by the mile needs to set aside tax money, because withholding may not match the real bill. Employees at larger logistics firms may receive stock or an employer match, and deciding how much company stock to hold is a real question when your paycheck and your portfolio depend on the same business.

A financial planner who works with irregular income will usually start with a monthly floor budget, then decide what to do with the extra in strong months: extra debt payments, retirement contributions, or a larger emergency fund. Our budgeting and saving guide covers the basic cushion math.

Financial advisors in Shelby County: what the work looks like

In this part of Tennessee, advisors tend to fall into a few groups. Some work inside banks and brokerage firms. Some are independent planners who charge a flat or hourly fee. Some are registered investment advisors who manage portfolios for a percentage of assets. A few specialize in physicians, small business owners or retirees from a particular employer.

The advisors our service connects you with serve the Memphis area by phone or video, so your meetings do not depend on a drive down Poplar or a spot on the interstate. Our guide to financial advisors explains the main titles and what each one is allowed to do. Start with the problem you want solved, then look for the person who handles it every week.

Wealth management in Shelby County for owners, physicians and executives

Wealth management fits households whose finances have several moving parts at once. In Shelby County that often means a physician or specialist with a high income and student loans, an owner of a distribution, construction or restaurant business, or an executive with stock awards. It can also mean a family that has sold a house or business and needs to decide what happens next.

A wealth manager coordinates investments, tax planning, insurance, estate documents and charitable giving rather than handling each one alone. The Mid-South has a deep tradition of family business ownership, and succession is a recurring topic: who runs the company, who owns it, and how the other children are treated fairly. Our estate planning guide explains wills, trusts and beneficiary designations that sit behind those decisions.

Tennessee tax rules that shape a Shelby County plan

Tennessee does not tax wages or salaries. The Hall tax, which used to apply to interest and dividends, was phased out and ended after 2020, and the state inheritance tax was repealed years ago. The state also has no separate capital gains tax. For a Shelby County household that leaves federal income tax as the main income tax decision, along with sales tax and property tax.

Sales tax is the pressure point. Combined state and local rates in Shelby County are among the higher ones in the country, and groceries are taxed at a reduced state rate. Property tax is set by local governments, and rates differ between Memphis, the suburban towns and unincorporated areas. Tennessee has relief programs for some older, disabled or veteran homeowners, so ask the county assessor and trustee what applies. Dollar limits and rates change, so confirm current rules with the Tennessee Department of Revenue or a tax professional.

Business owners should also know that Tennessee has a franchise and excise tax on many business entities. An advisor can coordinate with your accountant on how entity choice and owner pay fit together.

Housing and cost of living from Midtown to Collierville

Housing is where Shelby County looks different from many large metro areas. A median home value of $249,100 is modest next to coastal markets, and median rent of $1,232 is workable on many local incomes. Prices run higher in Germantown and Collierville, where homes often sell for well above the county median, and lower in many Memphis neighborhoods.

Because only 54.1 percent of homes are owner occupied, a large share of residents rent. Renters can still build wealth, and a planner can show how much to put toward retirement accounts and an emergency fund while saving for a down payment.

Financial planners in Shelby County: when a written plan helps

A financial planner builds a plan around goals such as paying off a home, funding a child’s college, changing careers or retiring at a set age. Many Shelby County families are one paycheck from a tight month, so planning often begins with debt, cash flow and protection rather than investing.

A useful plan is written, has numbers, and names the next three actions with dates. Planning can be done for a flat fee, which suits people who want a roadmap and plan to carry it out themselves. For families saving for tuition, Tennessee offers a state 529 program, and our college savings guide explains how those accounts work. Tennessee Promise, which covers community college tuition for eligible graduates, changes the math for some families, so ask what your child may qualify for before you save.

Retirement planning in Shelby County

Shelby County has a younger population than many places, with 14.8 percent of residents 65 or older, but retirement planning matters for every age group. Plenty of local workers hold jobs with a pension or a match: Shelby County government, the City of Memphis, school systems, Tennessee state agencies and large health systems. Public employees in Tennessee generally belong to the Tennessee Consolidated Retirement System or a local plan, and the choices at retirement, such as survivor options, are often permanent.

Because Tennessee does not tax Social Security or most retirement income at the state level, the big questions are federal: when to claim Social Security, which accounts to draw first, and how Medicare premiums respond to income. People who retire before 65 also need a plan for health coverage until Medicare begins. Our retirement planning guide walks through the sequence.

Many Memphis retirees stay put, often in a paid-off home near family, church and a long-time doctor. That makes house repair costs, property tax and the cost of caring for a spouse the main variables.

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Earthquake, river and ice: risks to insure

Shelby County sits near the New Madrid seismic zone. A damaging earthquake is unlikely in any given year, yet standard homeowners policies generally exclude earthquake damage, and coverage is sold separately. Many owners skip it, so it is worth pricing and deciding on purpose.

The Mississippi River and local streams create flood risk in some neighborhoods, and homeowners policies exclude flood too. Winter ice storms can knock out power for days and bring down limbs onto roofs and cars, and severe spring thunderstorms and tornadoes cross the region. An advisor or independent insurance agent can review deductibles, an umbrella policy and your emergency fund together. Keeping enough cash to cover a large deductible protects you from selling investments at a bad time.

Life insurance in Shelby County

Life insurance protects the people who depend on your income. In a county where median household income is $63,767 and many families rely on two paychecks, losing one can force a move or end a college plan. Term life usually costs the least and covers a fixed period, such as the years until the mortgage is paid and the children are grown. Permanent policies cost more and can suit estate planning or lifelong needs.

A common rule of thumb is to cover ten to twelve times income, though a planner will look at your actual debts, childcare costs and spouse’s earnings. Check any coverage through work, because it often ends when you leave the job. Our life insurance guide explains the types and how to compare them. Ask how an agent is paid, and get quotes from more than one company.

Investment advisors in Shelby County

An investment advisor focuses on how your money is invested: the mix of stocks and bonds, fund costs, taxes and rebalancing. Registered investment advisors are regulated by the SEC or by the state, and many have a fiduciary duty to act in your interest. Ask whether the advisor will put that duty in writing.

For smaller portfolios, low-cost index funds in a 401(k) or IRA often do most of the work, and a one-time review may be all you need. For larger or more complex holdings, such as a concentrated stock position or an inherited account, ongoing management can be worth the cost. Fees of about 1 percent of assets a year are common, and the figure can come down as balances grow. Our investing guide covers fees in plain terms.

Hospitals, universities and the naval base

Several large institutions shape local careers. St. Jude Children’s Research Hospital, the Methodist and Baptist health systems, the University of Tennessee Health Science Center and the University of Memphis anchor medicine and education. Naval Support Activity Mid-South sits in Millington. Each one brings its own planning questions: retirement plans for hospital staff, loan forgiveness and moving costs for residents and fellows, grant-funded pay for researchers, and military benefits and the Blended Retirement System for service members.

If you are a physician or researcher, an advisor who understands training years, student loans and disability insurance can save you real money. If you serve in uniform, ask about the Thrift Savings Plan and survivor benefits.

How to choose a financial advisor in Shelby County

Start with a short list of two or three advisors and meet each one. Ask how they are paid, what they would do in the first ninety days, and who their typical client is. A person who works mostly with business owners may not be the right match for a nurse saving for a first home.

1. Confirm credentials and any history of complaints on FINRA BrokerCheck and the SEC adviser database.
2. Ask for the total yearly cost in dollars, including fund expenses.
3. Ask whether they act as a fiduciary at all times, and get it in writing.
4. Make sure they will explain things in plain words and answer questions by phone or video.
5. Walk away from anyone who promises returns or pushes a product on the first call.

Areas we serve in Shelby County

Advisors we connect you with serve households across the county by phone or video, including Memphis, Bartlett, Collierville and Germantown. The county also includes Millington, Arlington and Lakeland, as well as many neighborhoods inside Memphis itself, from Frayser and Whitehaven to Orange Mound and Cordova. Where you live changes the details, such as property tax rates, school choices and commute length, so mention your town on the first call.

Frequently asked questions