Memphis has a different economic profile than most metros on lists like this. Median household income is $64,000. That’s lower than the national average.
But the metro still has 523,000 households, and about 8% earn over $200k. That’s roughly 42,000 households with serious income.
Around 19,000 of those households manage their finances without an advisor.
Crypto Wealth in Memphis Gets Overlooked #
FedEx headquarters is here. Healthcare is a major employer. There’s money in logistics, medical services, and regional business operations. It just doesn’t get the attention that tech wealth gets in other cities.
The affluent population in Memphis tends to be practical. They’ve built wealth through steady careers, not stock Options or startup exits. They’re often self-reliant when it comes to managing money.
Crypto ownership here runs below the national average overall. But among the high-earning self-directed investors, it’s closer to typical rates. These are people who research before they buy, who understand Diversification, who’ve allocated a portion of their Portfolio to digital assets because the thesis made sense to them.
Practical People, Practical Problems #
The practical approach to crypto usually means buying and holding. Building a position in Bitcoin or Ethereum over time rather than day trading or chasing new tokens.
That’s a reasonable strategy. It doesn’t eliminate the planning needs.
Cost basis still matters. If you bought at different times on different platforms, you need to track it all. When you eventually sell, which lots do you sell? That depends on your tax situation.
Estate Planning still matters. If you’re holding in self-Custody, your family needs to be able to access those assets. Have you documented where they are and how to get to them?
Tax Compliance still matters. The IRS wants to know about your crypto. They’re asking on tax forms. They’re getting data from exchanges. Flying under the radar isn’t a strategy anymore.
Practical people should want these things handled properly. But practical people also tend to put off tasks that don’t feel urgent. Until they are.
Working with a Digital Asset Specialist #
Memphis has financial advisors who work with local clients. What it doesn’t have many of is advisors who understand crypto deeply.
The specialists in digital assets typically work remotely. They serve clients nationally because crypto holders exist everywhere. They’ve built secure systems for communication and document sharing.
For someone in Memphis with meaningful crypto holdings, working with a remote specialist makes more sense than trying to find expertise locally. You get:
- Advisors who’ve seen hundreds of crypto situations
- Secure communication that matches the digital nature of the assets
- Flexibility to meet when it works for you
- Real expertise instead of an advisor learning on the job
The key questions: Do they understand cost basis tracking? Can they help with tax optimization? What’s their approach to Custody and Estate Planning?
Getting Started #
Digital Wealth Partners specializes in crypto holders and works entirely remotely. If you’re in Memphis with digital assets as part of your Portfolio, they focus on exactly this. Learn more at digitalwealthpartners.net.
The 19,000 high-income households here without advisors include practical people who’ve been putting this off. At some point, practical means getting it done.
