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Scott Wallace

CFP®
Personal Finance, Retirement, Investing
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“Scott Wallace is the President of Wallace Wealth Management and has been managing client’s assets since 1994. Scott advises clients as a trusted Certified Financial Planner, specializing in asset management and retirement planning.”
Firm:

Wallace Wealth Management

Job Title:

President

Biography:

Scott Wallace is a CERTIFIED FINANCIAL PLANNER™ professional with more than 23 years of experience helping individuals and families achieve their short- and long-term financial goals.

In addition, Scott is a Regional Director for the Landmark region of Cetera Advisor Networks. In this capacity, Scott strives to increase regional productivity by mentoring, training and supporting independent financial advisors within his region. Scott’s objective is to help each advisor build and grow a successful practice while providing top quality service to their clients.

Committed to a higher fiduciary standard of excellence, Scott has earned the professional designation of CERTIFIED FINANCIAL PLANNERTM professional. He currently holds securities registrations including the Series 7, 24 and 63, as well as Life and Health insurance licenses.  

Scott shares his time with the community by providing financial consulting and educational workshops benefiting students of all grades throughout Houston and Fort Bend Independent School Districts. To help educate business owners and employees on investing, he frequently speaks to groups offering his knowledge and opinions on the current economic environment. Scott can occasionally be heard on the radio expressing his views on pointed financial planning topics or trends within the industry.

Spending most of his childhood in Spring, Texas; Scott now resides in Katy, Texas with his wife Jenny and their two children, Joshua & Braden. Raising two young boys keep them very busy. When not in the office or attending his boys hockey games, Scott enjoys snow skiing, playing golf, or smoking brisket, ribs or any other good ole Texas BBQ at home while spending time with his family.

Assets Under Management:

$34 million

Fee Structure:

Fee-Based

CRD Number:

2433724

Insurance License:

#942928

Disclaimer:

Securities and advisory services offered through Cetera Advisor Networks LLC, Member FINRA/SIPC.  

Cetera is under separate ownership from any other named entity. 

Branch: 22322 Grand Corner Drive, Suite 125, Katy, TX 77494

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    Financial Planning
What is a wrap account and what are the advantages of using one?
33% of people found this answer helpful

A wrap account typically is a brokerage account that your advisor manages and chooses the investments within the account.

Firms may have variations of these accounts. For example, whereas one option provided to the client may be that their advisor can perform the duties of the portfolio manager for the account, another option might be to provide the client a turnkey solution with investment firms directly making the buy/sell decisions; which, is one of the advantages.

Either way, most of these wrap accounts are fee-based and the client is charged a percentage of the assets under management versus a commission for doing this work. Also, things such as custodial fees, ticket charges, etc. may be “wrapped” into the account and the client would not incur these extra fees.

Furthermore as an example of an advantage, a client may have an IRA account, a Roth IRA account and an account with their spouse. All three of these accounts can be wrapped together for billing and reporting purposes making it easier for the client to keep track of their investments.

Best of Luck!

 

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