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Scott Bishop

Retirement, Investing, Small Business
“With over two decades of experience in the financial industry, Scott Bishop believes that success isn’t measured only by figures and charts, but through his client's peace of mind and reaching their goals by Planning for Retirement the R.I.T.E. Way®.”

STA Wealth Management, LLC

Job Title:

Partner and Executive VP of Financial Planning


Scott Bishop is a Partner and is Exec. Vice President of Financial Planning at STA Wealth, a Houston based RIA Firm. In this role, Scott guides clients through the process of identifying and realizing their personal financial planning goals while working with them to help develop, implement and monitor strategies to help assure the long-term coordination of their overall financial, retirement, business planning.

Scott is also the host of STA's radio show, "Financial Planning Fridays" on The STA Money Hour, on 950AM KPRC Radio in Houston at 12pm Central where he frequently discusses tax and financial planning topics and hosts interviews of industry experts.

Scott graduated from the University of Texas at Austin with a Bachelor of Business Administration in Accounting and received his Master of Business Administration from the University of St. Thomas.

Currently, Scott is a CFP® and a CPA and also holds a PFS® designation. Scott has been active as a member of the American Institute of Certified Public Accountants (AICPA), the Texas Society of Certified Public Accountants (TSCPA) and its Houston CPA Society as a member of its Board of Directors. He has also been recognized for excellence by being named the Young CPA of the Year for 2002-2003 by the Houston CPA Society, one of the largest and most prominent CPA chapters in the United States.

In addition, Scott has both authored and has been interviewed for numerous articles in financial related publications and websites such as the Wall Street Journal, MarketWatch, CNBC, USA Today, Washington Post, The New York Times, Investopedia, Houston Chronicle, Investment News, Kiplinger, The AICPA Tax Section, BankRate.com, the Houston Business Journal and the CPA Forum. Scott is also a member of the Houston Business and Estate Planning Council.


BBA - Accounting, University of Texas at Austin
MBA - Finance, University of St. Thomas

Assets Under Management:

$760 million

CRD Number:



AUM information provide is for the firm STA Wealth Management, LLC of which Scott Bishop is a partner/shareholder. Please remember that past performance may not be indicative of future results. Different types of investments involve varying degrees of risk, and there can be no assurance that the future performance of any specific investment, investment strategy, or product (including the investments and/or investment strategies recommended or undertaken by STA Wealth Management, LLC (“STA”), or any non-investment related content, made reference to directly or indirectly in this newsletter will be profitable, equal any corresponding indicated historical performance level(s), be suitable for your portfolio or individual situation, or prove successful.  Due to various factors, including changing market conditions and/or applicable laws, the content may no longer be reflective of current opinions or positions. Moreover, you should not assume that any discussion or information contained in this newsletter serves as the receipt of, or as a substitute for, personalized investment advice from STA.  To the extent that a reader has any questions regarding the applicability of any specific issue discussed above to his/her individual situation, he/she is encouraged to consult with the professional advisor of his/her choosing.  STA is neither a law firm nor a certified public accounting firm and no portion of the newsletter content should be construed as legal or accounting advice.  A copy of the STA’s current written disclosure Brochure discussing our advisory services and fees is available upon request.

IRS CIRCULAR 230 NOTICE: To the extent that this message or any attachment concerns tax matters, it is not intended to be used and cannot be used by a taxpayer for the purpose of avoiding penalties that may be imposed by law.

  • STA Wealth Planning Process - Scott Bishop
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July 2017
    Small Business
September 2017
    Choosing an Advisor, Investing
February 2018
    IRAs, Retirement Savings, Retirement Plans
June 2017
    Retirement Savings, Retirement, Financial Planning
July 2017
    Financial Planning, Lifestage Based Planning, Personal Finance

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    401(k), IRAs, Taxes
How should I convert my 401(k) to a Roth IRA to get the most benefit?
67% of people found this answer helpful

I am sorry that you are unemployed.  I hate to see anyone pre-retirement need to take money from their retirement savings as it may cause both taxes and penalties.  If you need money to pay bills, a conversion of a 401k to a Roth IRA will do you no good to pay bills...it will actually cost you money in taxes and then (if under age 59 1/2) you will pay penalties if you withdraw it from the Roth IRA within 5 years.

That being said, if the funds are needed to pay bills, here are your options in terms of ease of access:

  1. If you are over age 59 1/2, rollover your 401k to an IRA. That will allow you more ease in taking your “hardship” withdrawal as those are not allowed in a 401k. Once in the IRA take a distribution and make sure they withhold at least 15% so you don’t have a surprise tax bill (the distribution will be taxable).  Schwab can do that.  If you have very little income, you will be taxed at a low rate (and if done in 2018, your tax rate may be even lower. 
  2. You can do the same thing in #1 if you are under  age 59 1/2, But you will owe an extra 10% penalty so make sure that you adjust your withholding percentage accordingly.
  3. If you are under age 59 1/2 see if you are eligible to get a 401(k) loan.  It is unlikely that you can, but if you can, you would avoid the taxation and penalties when accessing the 401k.  Your prior employer or custodian should be able to help you with this answer.
  4. Note:  Both IRAs and 401ks have different rules on withdrawing money.  I talk about these in my Retirement Survival Guide - go to the link to download a fee copy.

I love Roth IRAs and 401k’s, but this isn’t the best time to use them.

December 2017
    401(k), Stocks, Taxes
How do I minimize the amount of taxes I pay when I sell shares from a former employer's 401(k) plan?
76% of people found this answer helpful
November 2017
    401(k), IRAs, Taxes, Tax Deductions / Credits
How can I avoid Required Minimum Deductions (RMDs)?
79% of people found this answer helpful
November 2017
    401(k), Stocks
Where should I move my 401(k) gains before the bull stock market ends, in preparation for a market crash?
74% of people found this answer helpful
November 2017
    Real Estate, Taxes
Do commission fees count towards Capital Gains Tax?
50% of people found this answer helpful
October 2017