Scott Bishop

CPA, PFS, CFP®
Retirement, Investing, Small Business
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“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®.”
Firm:

STA Wealth Management, LLC

Job Title:

Partner and Executive VP of Financial Planning

Biography:

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.

Education:

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

Assets Under Management:

$760 million

CRD Number:

2687188

Disclaimer:

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.

Videos
  • STA Wealth Planning Process - Scott Bishop
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April 2018
April 2018
February 2018
    IRAs, Retirement Savings, Retirement Plans
September 2017
    Investing
September 2017

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    Debt, Insurance
How can I borrow money from my life insurance policy?
82% of people found this answer helpful

If you have a cash value policy (whole life, universal life, etc.) that has cash value accumulated, you most likely can take a loan from the insurance policy.  This can not be done with term insurance.  

The cost and ramifications of the loan is included in the insurance contract/policy that you received.  Before you take any loans, read the policy and call the insurance company and get guidance on how the loan will work, how much the interest will be and what your options will be.  They can run an in-force illustration to show you the effect on the policy given many assumpesions like:

1) Interest rate for the loan,

2) How will it effect future dividends, growth or policy performance,

3) How it will effect the death benefit (or will you be putting your death benefit at risk.

I life insurance loan is typically tax free (unless it was set up as a Modified Endowment Contract - this is a tax term, but important to know if it is a MEC), but if there is a gain in the policy and if the loan causes the policy to lapse in the future, the  gain may be realized on your tax return as ordinary income.

Some policies were designed to be very flexible for loans and some were not - be careful when taking loans from policies especially when the death benefit is important to your family or business.

 

June 2017
    IRAs
How does a Roth IRA grow over time?
82% of people found this answer helpful
June 2017
    Social Security
What is the maximum I can receive from my Social Security retirement benefit?
80% of people found this answer helpful
August 2017
    Financial Planning, Estate Planning, Women & Money
Is it legal to end an irrevocable trust?
80% of people found this answer helpful
September 2017
    401(k), IRAs
Can you have both a 401(k) and an IRA?
79% of people found this answer helpful
August 2017