What is Formula Wealth (FW)? 

FW is a financial concierge empowering families to optimize their wealth and minimize their taxes. Through education and guidance, clients of Formula Wealth will implement strategies to enhance multi-generation tax savings, investments, risk management, generational planning, and estate structures.

Is FW going to sell me anything, or get commissions off our relationship? 

Absolutely not. As a fee-only fiduciary financial planner, I only have one source of business income: what you pay me directly for independent advice. I do not get paid from the investments I utilize in your portfolio, introductions I make, the trades I make, or any life, long-term care, or disability insurance we discuss.

How do you charge?

See our Fee Overview page to learn about our transparent pricing.

Why should I hire a financial advisor? Can’t I do this myself?

Absolutely! If you have the time, interest, and ability to learn about and implement strategies to better your financial situation, by all means – do it yourself! It’s a great feeling to know you’ve mastered your finances. Formula Wealth is here for people who don’t have this option.

My parent just named me Power of Attorney. What should I do first financially?

Start by getting organized. Locate all financial accounts — bank, investment, retirement, and insurance — and make sure you have legal access to each one by presenting the POA document to each institution directly. From there, review any recurring bills, outstanding debts, and income sources like Social Security or pension payments. The most common mistake new POAs make is waiting until a crisis to act. Getting a clear picture of your parent's full financial situation now — before cognitive decline worsens or a hospitalization happens — puts you in a much stronger position to make good decisions on their behalf.

How do I know if my aging parent has enough money to last the rest of their life?

This depends on three things working together: their current assets and income, their expected spending (especially healthcare costs), and how long they may live. A financial planner can run a longevity analysis that stress-tests different scenarios — including long-term care needs, which are often the largest wildcard. Most families are surprised to find that the math looks very different once Medicaid eligibility rules, required minimum distributions, and housing costs are factored in. A professional review is often the fastest way to get clarity and peace of mind.

What happens to my parent's IRA when they pass away?

When a parent dies, their IRA passes to whoever is named as beneficiary — which is why keeping beneficiary designations up to date is so important. As an adult child inheriting an IRA, you are generally required to withdraw all the funds within 10 years under current tax law (the SECURE Act). Those withdrawals count as ordinary income in the years you take them, which can create a significant and unexpected tax bill if not planned for in advance. Strategic planning around when and how much to withdraw each year — ideally starting before your parent passes — can save tens of thousands of dollars in taxes.

Should my parent take more than their Required Minimum Distribution (RMD)?

Sometimes, yes — and this is one of the most overlooked planning opportunities in multigenerational wealth. If your parent is in a lower tax bracket today than their heirs will be when the account is eventually inherited, it may make sense to pull out more than the minimum now and pay tax at the lower rate. This strategy, sometimes combined with Roth conversions, can dramatically reduce the tax burden on the next generation. It requires a careful look at both generations' income and tax situations together, which is exactly the kind of planning most advisors don't do.

What is the difference between a will and a trust, and does my parent need both?

A will directs where assets go after death but must go through probate — a public, court-supervised process that takes time and costs money. A trust, by contrast, transfers assets privately and immediately to beneficiaries without probate. Whether your parent needs both depends on the size and complexity of the estate, the types of assets owned, and the family dynamics involved. Many families benefit from a "pour-over will" paired with a revocable living trust, which ensures everything is captured and transferred efficiently. An estate planning attorney handles the legal documents, but a financial planner coordinates how assets are titled and structured to make the plan actually work.

How does long-term care work, and how do we pay for it?

Long-term care refers to the ongoing assistance a person needs when they can no longer perform basic daily activities — bathing, dressing, eating, managing medications — due to aging, illness, or cognitive decline. The average cost of a private room in a nursing home exceeds $100,000 per year, and home care adds up quickly as well. Paying for it typically comes from one of three sources: personal assets (self-funding), long-term care insurance purchased in advance, or Medicaid (which requires spending down assets to qualify). Planning ahead — ideally 5–10 years before care is needed — opens up more options and preserves more of the family's wealth.

What does "fee-only" mean, and why does it matter when choosing a financial advisor?

A fee-only financial advisor is paid exclusively by you — the client — and earns no commissions, referral fees, or compensation from any financial product. This matters because most advisors in the industry are compensated (at least in part) by what they sell you, which creates a built-in conflict of interest. A fee-only fiduciary is legally required to act in your best interest, not their own. When you're navigating something as complex and high-stakes as retirement planning and an aging parent's finances, having an advisor who has no financial incentive to steer you toward any particular product is worth a great deal.

My siblings and I disagree about how to handle our parents' finances. What should we do?

Family conflict around aging parents' money is extremely common — and it rarely gets easier on its own. A neutral, professional financial planner can play a valuable role here by presenting the numbers and options objectively, without the emotional weight that family history brings. Often, disagreements stem from different levels of financial knowledge or different risk tolerances rather than true disagreements in values. Getting everyone in the same room with a fiduciary advisor who can lay out the facts clearly often diffuses tension and leads to faster, better decisions. Having a written financial plan also removes the ambiguity that fuels most family disputes.

When should I start planning for my parents' estate, even if they're still healthy?

The best time is now — specifically, while your parent still has full mental capacity to make and communicate their own decisions. Estate planning done under duress (during a health crisis) is more expensive, more limited, and more stressful for everyone. Key documents — will, trust, POA, healthcare directive — should all be in place. Beyond documents, the financial plan should address how assets are titled, who the beneficiaries are, whether a Roth conversion strategy makes sense, and how long-term care would be funded. Starting early gives the whole family options; waiting eliminates them.

What is a Roth conversion, and should my family consider one?

A Roth conversion means moving money from a traditional IRA (where withdrawals are taxed) into a Roth IRA (where future withdrawals are tax-free). You pay income tax on the converted amount in the year of the conversion. For families navigating both retirement and inheritance planning, Roth conversions can be powerful — especially if a parent is in a low tax bracket now but their heirs would face higher taxes when they eventually inherit a large traditional IRA. The question of when and how much to convert is highly specific to your family's combined income, tax brackets, and timeline, which is why it warrants careful analysis rather than a blanket rule.

Does hiring a financial advisor actually pay for itself?

For most families dealing with retirement, taxes, and an inheritance situation, yes — often by a significant margin. The value comes not just from investment returns but from tax savings: optimizing withdrawal sequencing, timing Roth conversions, reducing estate taxes, and avoiding costly mistakes like unnecessary RMD penalties or poorly structured beneficiary designations. One well-timed strategy — like coordinating a parent's IRA distribution with a child's low-income year — can save more than a year's worth of advisory fees in a single decision. The clearest way to evaluate it is to ask a prospective advisor to walk through a real example of what they've saved a client in a similar situation.

Can I work with Formula Wealth if I don't live near Fairhope, Alabama?

Absolutely. Formula Wealth serves clients all over the country through virtual meetings via Zoom and secure portals for sharing sensitive financial documents. The planning work — reviewing accounts, analyzing tax strategies, building a financial plan — translates seamlessly to a virtual relationship. Many clients prefer it for the flexibility. If you're local to the Fairhope or greater Mobile Bay area, in-person meetings are also available.

What are your qualifications? 

I earned my master’s degree in accounting and subsequently my CPA license right after undergraduate school. After four years as an auditor for a Big 4 accounting firm, I maneuvered to a Texas CPA firm in their wealth management department. Through working with the team and clients there, I confirmed my passion for financial planning. In my first year at the firm, I passed the Series 65 - Uniform Investment Adviser Law exam, obtained my Texas life insurance license and Chartered Retirement Plans Specialist (CRPS®) designation, and ultimately became a CERTIFIED FINANCIAL PLANNER™ practitioner (CFP®). Once I started my own firm, I chose to take my studies even deeper for high net worth clients and achieved the Certified Private Wealth Advisor® designation after completing the coursework at Yale School of Management.

How will our relationship work? 

We will meet several times in the first few months to get a good understanding of priorities, goals, and to layout an early draft of a financial plan. As the relationship progresses, we will meet 2-3 times per year to discuss personal financial updates, market conditions, and follow our Service Calendar. If clients have questions, concerns, or otherwise merely want to check-in in between the 2-3 scheduled meetings, my clients know they can (and should) call me. I am not charging hourly, so it does not cost you to touch base with me and discuss what’s on your mind. I’m always happy to talk!

Will you be too busy for me as a solo advisor?

Nope! I am very intentional about how many families I serve, and how frequently I'm onboarding new ones. Because of the tremendous amount of time I need in the early months of an engagement, I only allow 1 new family per month.

What is your investment philosophy? 

I believe:

1) Markets are efficient. I recognize that it is impossible to consistently be the first person to act on market-changing news, and therefore it is very difficult to get on the right side of momentum when prices change so quickly.

2) There is value in a globally diversified portfolio, adding slightly more weight to areas of the capital structure that have higher expected rates of return over the long run.

3) Frequent trading creates costs and erodes return.

4) There is a difference in speculation and investing; I am only interested in the latter.

5) Understanding a client’s risk appetite and financial goals gives me enough information to suggest an appropriate allocation across equity and fixed income.

6) Panicked reactions to market swings can lead to a horrible investment experience.

7) Being a contrarian and rebalancing during times of turmoil can be a great way to take advantage of market swings.