The Fog Cutter. Leader. Visionary. Trailblazer. Global Economics Maven. Writer. Speaker. Father. World Traveler.

David is W&A’s fearless leader. As the firm’s Chief Investment Strategist, David chairs the W&A investment committee and, pulling from his 20 years of experience, combines macro-economic forecasting, macro market analysis and macro risk assessments to design portfolio strategies for clients utilizing public market securities worldwide.

David is gifted with the ability to take complex topics and ideas and present them in a compelling manner that everyone can understand. He essentially cuts through the fog, hence the name "Fog Cutter", and encourages his team to push the standards of what it means to be a financial planner. David is often featured as a global economics and investment expert in national media outlets such as Forbes, The Wall Street Journal and Barron’s, and is an internationally recognized speaker.

David earned his BA in Economics at University of the South and his MBA with a concentration in finance and investments from Babson College in Boston. He began his career at Charles Schwab & Co., Inc and was soon recognized for his outstanding business development record and promoted to the Institutional Strategic Accounts Team, which interfaced with the Big 5 accounting firms and Schwab’s largest customers.

David currently acts as Chairman of Epicenter Memphis and Co-Chair of the Memphis Chamber Chairman’s Circle while also serving as a board member for LaunchTN and the New Memphis Institute. He previously served as Chairman for The Leadership Academy, the RISE Foundation and the Economic Club of Memphis and chaired the capital campaign to build the “Live” stage at the Memphis Botanic Garden. David has been recognized as a “Top 40 under 40” by the Memphis Business Journal and, in 2007, was a finalist for “Executive of the Year” by the publication.

Planning your next bucket list trip? You might want to give David a call. He has traveled to more than 32 countries with no plan of stopping. He’s made connections all over the world and learned from immersing himself in different cultures. David also lived in Hong Kong for 18 months studying Asian economies and the long-term prospects for the “Chinese miracle”.

David stays just as busy outside of work keeping up with his two teenage children and their doodles, NASDAQ and Ripley. He is a skilled guitarist, and yachtsman, and dreams of captaining his own boat in the not-too-distant future - a passion that inspired his own father to start the W&A business. Read the full W&A story here: https://www.waddellandassociates.com/wa-story/

How Waddell & Associates is changing the Financial Planning landscape:

“At Waddell & Associates, we are in the relationships business, not the transaction business. This company was started by my parents with the belief that there was a void in the personal financial services industry. Instead of focusing on extracting money from clients, they created a model that placed an emphasis on building relationships with their clients. They wanted every client to feel like family as achievements take time, collaboration and flexibility while requiring trust, common values and commitment.”

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Perry began his financial services career at Ernst & Young, LLP in 1993 working on various corporate, individual and estate and gift tax projects. In 1997, Perry joined Rhea & Ivy, PLC, a Memphis based regional public accounting firm where he concentrated his practice in the areas of individual income tax and estate and gift tax planning. Perry received his BBA in accounting from the University of Memphis and his Masters of Taxation from the University of Mississippi. He completed the CPA exam in 1992, earned the Certified Financial PlannerTM (CFP®) designation in 1997, and earned his CLTC (Certification in Long Term Care) in 2001. Perry added the Chartered Financial AnalystTM (CFA®) designation in 2004.

Through the years, Perry has worked extensively with owners of closely held businesses as well as executives of large corporations, assisting them with tax planning, transition planning, and stock option planning. Along with his investment management duties, Perry has assisted a diverse group of clients with gift, estate, and retirement planning, helping them understand the myriad of changes and options available.

Perry continues his education and civic leadership through his membership in the Planned Giving Council of Greater Memphis, the Memphis Estate Planning Council, the Financial Planning Association of the Mid-South and the Tennessee Society of Certified Public Accountants, and has served as treasurer and elementary school financial secretary for his local church.

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Tee started her career in the financial services industry in 1982 with Union Planters Corporation. After six months of branch experience, she transferred to the brokerage division of the bank. Starting in the operations and customer service area, she moved to the trade desk where she was responsible for locating and purchasing municipal and government bonds for retail brokers and ultimately served as Vice President and manager of her division. In 1992, she joined Charles Schwab & Co., Inc. where she gained valuable experience servicing the financial advisers in the Memphis area. She joined W&A from First Tennessee Discount Brokerage where she had been responsible for customer service, operational procedures and equity and bond trading.

Tee earned her Financial Paraplanner Qualified Professional designation (FPQP) in 2007, the Chartered Retirement Planning Counselor designation (CRPC) in 2011, and the Claritas Investment Certificate in 2013. In 2019, Tee earned her designation as a Certified Senior Advisor.

Tee is currently an active disaster relief volunteer for Eight Days of Hope and Samaritan’s Purse with deployments to Baton Rouge, Louisville, Durant Missouri, Houston, and West Point Mississippi. She served with the Tennessee Baptist Southern Disaster Relief Team in the aftermath of Hurricane Katrina, and recently started a disaster relief ministry at her church, where she also currently serves as a deacon.

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Phyllis had been associated with W&A for a number of years before joining the firm, acting as a consultant to the company in its formative stage and subsequently as a client.

Prior to joining W&A, Phyllis served as Vice President, Corporate Finance at Morgan Keegan & Company, Inc. She was involved in all aspects of its investment banking activities, including mergers and acquisitions, valuation studies, and initial public offerings.

Phyllis holds an MBA in Finance as well as M.Ed and BBA degrees from the University of Memphis. She is a Chartered Financial Analyst™ (CFA®) and a Certified Financial Planner™ (CFP®) Licensee. She is past-Chairman and past-President of the Mid-South Society of the Financial Planning Association (FPA) and served on their Board of Directors from 1995 to 2000. During her term as President in 1998, the Mid- South Society of FPA was chosen the Outstanding Society of the Year by the national FPA organization. Her community volunteer activities include MIFA and the Women’s Foundation for Greater Memphis, where she served as Treasurer, Chair of the Finance Committee and currently serves on the Board of Trustees. She also formerly served on the Board of Governors of The Seaside Institute in Seaside, FL, and was Chairman from 2001-2003.

Phyllis works full-time from Aspen now, a place she fell for in 1982. She is a member of Aspen Chapel Finance Committee, Development Committee and Endowment Committee. Skiing is still a passion of hers today. When there isn’t any snow she can be found biking, hiking and listening to the sounds of music in her beloved Rocky mountains.

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Kathy began her career in the financial/brokerage industry at Merrill Lynch in 1980, moving to a local brokerage firm in 1981. She worked in all aspects of operations, ultimately serving as Operations Manager. When the firm was acquired by Union Planters National Bank, she moved to the Investment Bankers Group division, working in operations, trading, and sales. In 1989, Kathy joined Charles Schwab & Co., acting as their Financial Advisor Coordinator, as well as Operations Supervisor.

Kathy is a CERTIFIED FINANCIAL PLANNER™ (CFP®) professional and a Certified Divorce Financial Analyst® practitioner.

Kathy has served the community since 1990 as a volunteer Emergency Medical Technician (EMT) with the Shelby County Sheriff’s Department Emergency Services. She responds with the county ambulance service on medical calls, provides medical assistance at various city and county functions (Memphis in May events, Special Olympics, etc.), and is on 24-hour call for search and rescue and emergency disaster management. In 2007, Kathy was honored by the Memphis City Council and the Memphis Fire Department for her off-duty actions and received the annual Civilian Service Medal from the Memphis Fire Department. Additionally, Kathy has served on the Board of Directors for Make-A-Wish Foundation of the Midsouth as chair of the Program Services Committee and treasurer.

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Most Mid-Southerners have heard of this Memphis native and longtime community leader, who is possibly best known for his role as president and general manager of the Memphis Redbirds. But his role in making Memphis a better place to live, work and play doesn’t stop there. Allie Prescott has occupied several high-profile posts during his storied career, including vice president and general manager of the Memphis Chicks, executive director of MIFA and executive director of the City of Memphis Park Commission. Most recently, Allie fulfilled an item on his bucket list when he served as interim athletic director at the University of Memphis for six months in 2019.

Allie has practiced law since 1972 and is a Rule 31 Civil Mediator, certified by the Tennessee Supreme Court. He also served as Vice President of SPL Corporation. At Waddell and Associates, Allie focuses on business development and client relations initiatives in his role as Senior Vice President.

Allie, who is a graduate of and holds a Juris Doctor from Memphis State University Law School (1972), also owns a local consulting company, Allie Prescott & Partners, LLC. Some of the highlights of his personal and professional life include the following:

Graduate, Leadership Memphis and Goals for Memphis Leadership Academy (now New Memphis Institute)

College Basketball Official – Southeastern Conference and Conference USA

Selected to officiate NCAA Tournament in 1985, 1986, 1989, 1990 and 1992

The M Club Athletic Hall of Fame, University of Memphis, 1996

Outstanding Alumnus, College of Arts and Sciences, University of Memphis, 2000

Memphis Park Commission Hall of Fame for the sport of baseball

The University of Memphis Athletic Hall of Fame for the sport of baseball

Communicator of the Year – Public Relations Society of America, Memphis Chapter, 2001

Distinguished Alumnus, University of Memphis, 2003

Alumni Hall of Fame, Memphis City Schools, 2003

President, University of Memphis National Alumni Association 2011-2012

State of Tennessee Sports Hall of Fame inductee, 2014.

Chairman’s Award, Carnival Memphis, 2017



Allie lives in Memphis with his wife, Barbara, and two grown children, Allie and Allison.

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Carol Lee came to Memphis from Nashville in 1974 as a student at Rhodes College (then Southwestern at Memphis). She graduated Phi Beta Kappa in 1978 with a BA in Mathematics and Economics. After summer studies in Britain at Oxford University, she began her career at IBM as a Systems Engineer in the Memphis marketing branch office. After 15 years, Carol Lee switched careers to financial planning in 1994, earning an MBA in Finance at the University of Memphis in December, 1996. She earned the Certified Financial PlannerTM (CFP®) designation in February 1997, became a Chartered Financial Analyst® (CFA®) charter holder in 1999, and earned her Certified Divorce Financial AnalystTM (CDFATM) designation in 2005. She was elected President of the Financial Planning Association of the Mid-South in 2001.

Outside of W&A, Carol Lee and her husband Joe Royer, co- owner of Outdoors, Inc. and a W&A client since 1992, promote fitness and human powered recreation in Memphis with events such as the Outdoors Canoe and Kayak Race on the Mississippi River. Some of Carol Lee’s other adventures include hiking the Haute Route from Chamonix, France to Zermatt, Switzerland, bicycle-touring in the Outer Hebrides, the Italian Dolomites, the Alps and across Norway as well as kayak tours in the Florida Keys, Orcas Island, Maine and Yellowstone Lake.

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Since joining W&A in 2014, Tim has been responsible for managing relationships with clients and providing financial planning services covering the areas of retirement, income tax, estate and gift, risk management, and education. In addition to client responsibilities, Tim serves on the firm’s investment committee assisting in portfolio construction and allocation as well as the searching and vetting of portfolio strategies. He is also an occasional author of W&A’s Weekly Strategic Insight commentary.

Tim received his Bachelors in Accountancy and Masters in Taxation from the University of Mississippi in 2008 and 2009, respectively. He completed the CPA exam in 2011 and is a licensed CPA in the state of Tennessee. He earned the CERTIFIED FINANCIAL PLANNER™ (CFP®) certification in 2014 and Personal Financial Specialist (PFS) credential in 2015.

After completing his Masters at Ole Miss, Tim started his career at Reynolds, Bone & Griesbeck PLC as a tax associate in 2009. While at RBG, Tim worked with a wide range of clients, performing tax compliance and planning services for individuals, estates, trusts, partnerships, and corporations.

Tim is a member and/or serves on the following organizations:

• The American Institute of Certified Public Accountants
• The Tennessee Society of Certified Public Accountants (Council member and VP of Programs and board of directors for the Memphis Chapter)
• The Financial Planning Association (President-elect and board of directors for the Greater Memphis Chapter)

Tim is originally from Marks, Mississippi, but has lived in East Memphis since starting his career. He is married, and he and his wife, Mary Agnes, are the proud parents to three children, Wilkes, Edie, and Mary Wright as well as a Goldendoodle, Penny.

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Prior to joining W&A, Sean received his Bachelor of Accountancy and Master of Accountancy from the University of Mississippi in 2007 and 2008, respectively. He completed the CPA exam in 2008 and is a licensed Certified Public Accountant in Tennessee.

After completing his Masters at Ole Miss, Sean joined Ernst & Young, LLP as an audit associate. While at E&Y, Sean worked on several engagements including AutoZone, Buckeye Technologies, Pinnacle Airlines, and Kirkland’s.

Outside of W&A, Sean is a member of the American Institute of Certified Public Accountants and the Tennessee Society of Certified Public Accountants. He is an active member of his church, and in his spare time enjoys playing golf.

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Problem solver. Networker. Empathizer. Fascinated by human behavior and family dynamics. Mother. Ella Fitzgerald fan.

Teresa Bailey is a Wealth Strategist. She orchestrates the financial affairs of executives, entrepreneurs and other driven individuals. In addition to growing her clients’ financial worlds, Teresa builds the W&A brand through coordinating brand development, client events, and educational content development.

Teresa is a CERTIFIED FINANCIAL PLANNER™ (CFP®) professional and a Certified Divorce Financial Analyst® practitioner.

She was named one of Memphis Business Journal’s Top 40 Under 40 in 2016 and in 2018 began splitting her time between W&A’s Memphis and Nashville offices.

It’s Teresa’s mission to stay involved with her community and speak on the importance of financial planning and connecting industry professionals. She is the former Chair of the Greater Memphis Chapter of the Financial Planning Association (FPA), and previously served on the Economic Club of Memphis Board of Directors. Under the National CFP® Board, she’s an advocate for women entering the field of financial planning. Teresa graduated from the University of Memphis with a Bachelor of Business Administration with an emphasis in corporate finance.

How Waddell & Associates is changing the Financial Planning landscape

“We are a solid unit – we do not have individualized, siloed producer-advisors that are only using the overall firm as an umbrella to hold their collection of clients. Therefore, we share knowledge openly, work together on client projects and relationships, and operate as a full team. When you sign on as a client of one of our Wealth Strategists, you truly sign on to receive the knowledge of every Wealth Strategist in the firm, as well as the professional network and resources of each.”

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Innovator. Communicator. Connector. Optimist. Mother. Actor. Ballroom dancer.

Karen Rowe is our in-house brand ambassador. She takes the vision of W&A and drives it forward in a tactical and process-orientated way. She uses her interpersonal skills to connect employees and prospects and discover what they need to encourage growth. She then plants these seeds of ideas and nurtures them until the vision is brought to life.

Communications has played a role in every aspect of Karen’s life. It’s the core of all her passions and what has led her to live in some of the world’s most happening cities. She moved from her hometown of South London, England, to Los Angeles, CA to earn a degree in Psychology from Loyola Marymount University. Upon graduation, she moved to Orlando, FL for the amazing opportunity to research dolphin cognition at the EPCOT Center and then to New York City to study classical theater and work for Getty Images on the global communications team.

Karen has more than 25 years of marketing experience, previously serving marketing roles at Malham Leverage Group/cj Advertising, and Apollo USA Inc.

She takes the most pride in volunteering at her children’s school and serving on the events committee of The Davis House Child Advocacy Center in Franklin, TN. Still following her passion for communications, Karen enjoys competitive ballroom dancing and is an actress — with appearances in “All My Children” and “One Life to Live.” Her talent and persistence eventually led to her own voiceover start-up business, which she continues to manage and has grown from the ground-up.

How Waddell & Associates is changing the Financial Planning landscape

“I get excited about taking a brand that I believe in to the next level. Waddell and Associates was started by a man of true integrity and built on traditional family values. The story is inspiring, and the vision for the future is captivating. I'm thrilled to be a part of the team that helps convey that."

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Sharon began her career in the financial services industry in 1999 with Morgan Stanley as a CSR and obtained her Series 7 license to become a Registered Sales Assistant. She also worked as a Long-Term Care and Life Insurance Marketing Associate in addition to managing over 1,500 household accounts. In 2002, she joined local firm Morgan Keegan, working in the IRA department. She was responsible for all of the IRA custodial tax reporting for the IRS on behalf of Morgan Keegan, as well as being very instrumental in bridging the gap for both customers and financial advisors on the more than 100,000 new IRA accounts opened as part of the merger with Union Planters.

Sharon graduated Magna Cum Laude with a BA in Business Management from Crichton College. She enjoys spending her free time with her family, especially her grandchildren. Sharon is very active in her church, where she leads various women’s bible studies and serves as one of the Women’s Sunday School Class teacher. In addition, she spends time volunteering at the Ronald McDonald House, Kairos Prison Ministry. She is actively involved with the Mid-South Faith Walk International Community and is Secretary Emeritus for the board.

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Lynne spent the first part of her adulthood as a mom. She raised three children in Collierville, TN while holding various volunteer positions which include the Collierville PTA, Collierville Public Library and most notably, she played an instrumental role in building and fundraising for the Collierville Animal Shelter and served as president of the board of directors for Friends of the Collierville Animal Shelter (FOCAS) for three years.

Before coming to Waddell and Associates, Lynne began her professional career with Hunter Fan in Memphis, TN as a national customer service representative. After the merger of Hunter and Casablanca Fan, she took on the responsibility of Account Manager for the Southern Region of the United States traveling between Memphis and The World Trade Center in Dallas. Lynne was responsible for all new accounts, technology training for clients and order processing.

Outside W&A, Lynne and her family are busy with their menagerie of animals, both their own and the constant stream of foster animals. She also serves as a volunteer for the Red Cross.

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Francine began her career in the financial services industry in 1993 with Pershing, LLC. She served as a Certified Sales Representative for Retirement Plans for over two years, and was primary liaison for Pershing’s top clients. During her time there, Francine was promoted to supervisor over one of two customer service teams. Francine was then promoted to team leader for one of three customer service teams within the newly formed Customer Service Group which handled inquiries for all of the Operations Areas within Pershing. Francine and her team of ten associates managed an enormous amount of responsibility as their main role was to process inquiries from the top tier clients for the firm.

Francine briefly worked for the National Financial Services Corporation (NFSC) before moving to Nebraska in 2000 to work on the trading desk for Ameritas Investment Corp. in Lincoln, NE. She was quickly promoted to Operations Manager until 2002 when she made the very important decision to become a stay-at-home mom.

In 2009, Francine reentered the workforce as a teller for Regions Bank. In 2010, she became the Operations Manager of the Regions/Morgan Keegan Trust Department. And in June of 2012, she joined the W&A family.

Francine graduated from St. John’s University in NY with a BS in Paralegal Studies where she was named to the Paralegal Honor Society and the dean’s list. She recently earned her Financial Paraplanner Qualified Professional designation (FPQP) from the College for Financial Planning. She enjoys spending her free time with her boys, Travis John and Zachary Jacob, and playing golf. Francine has volunteered with the American Heart Association and with various Ministries within Hope Church in Memphis, TN, where she is currently a member.

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Jill began her financial services career at Morgan Keegan in 2001, where she worked in the Planning and Executive Services department as a paraplanner, preparing all levels of financial plans for the firm’s brokers. She also assisted the Retirement Planning department with RMD calculations and estate valuations. Prior to 2001, Jill worked for Athletic Resource Management (ARM), a division of Morgan Keegan that represents professional athletes. Jill was an account executive and assistant to the CEO and their general counsel for 3 years. Her previous business experience includes a 5-year stint with Physiotherapy Associates as an office manager.

After joining W&A, Jill received her Financial Paraplanner Qualified Professional designation (FPQP) in 2007.

Outside of W&A, Jill enjoys spending time with her husband and son.

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Lanie Oberg, CAP-OM joined the W&A family in 2012, bringing her experience in both the corporate and hospitality worlds. Previously, Lanie served in various roles for the Marriott and Hilton family of hotels, ranging from Sales Assistant to Office Administrator. Company culture has always been important to Lanie and continues to be a significant part of her day-to-day activities. As a member of the Memphis Chapter of International Association of Administrative Professionals, she received her Certified Administrative Professional certification in 2008 and her Organizational Management certification in 2012. During her membership with IAAP, she has chaired and been involved in many committees. Her current role is committee chair for the CAP Recognition and Review Course.

Lanie is a wife, and mother of 3. Her children proudly attend and excel in Memphis City Schools. She currently holds office as Secretary to the WSMS Parents In Education program. Lanie was a Girl Scout troop leader for 7 years and continues to volunteer as needed for her daughter’s troop and Girl Scouts Heart of the South. The Oberg family is also actively involved in community outreach through the Church of Christ White Station.

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Teresa joined W&A in 2009 as Operations Associate. She is the first face you see at our front desk and loves to welcome and greet our clients and visitors. She is most often the voice you will hear when calling into the office.

Prior to joining W&A, Teresa worked as the Administrative Assistant to the President of the Juice Plus Company, and then served there as an event and meeting planner. After marrying, she decided to stay home for several years, but soon felt the desire to return to the workplace. She worked at Thompson & Company Advertising as the Administrative Assistant to the Creative Director, and then as a CSR for the Sales Department of a local printing company.

Teresa also worked at Allie Prescott & Partners, serving as Administrative Assistant to Allie Prescott, J.D. She continued serving in this capacity even after Allie joined W&A as Senior Vice-President in charge of Business Development. As Teresa’s assistant responsibilities phased out, she also joined the W&A family.

Teresa spends her time outside of the office with her children, grandchildren and husband, Steve. They spend many weekends entertaining friends and family, while cooking and enjoying good wine. She and Steve love to travel and are always looking forward to their next trip. They also enjoy boating and spending time at their lake home in Hot Springs, AR.

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Dorinda began her finance career in 1996 at Leader Federal Savings and Loan, which was acquired by Union Planters in 1997. Having started out as a bank teller Dorinda quickly became one of the youngest branch operation managers at Union Planters Bank. In 2001, Dorinda began tackling the investment arena at Morgan Keegan & Company and spent the next thirteen years in various capacities within the firm. As an operations associate in the Investment Management Consulting Group, Dorinda assisted brokers in setting up new fee-based accounts. She was soon promoted to First Vice President and later became a portfolio specialist within the Wealth Management Services department where she was responsible for the reconciliation of all fee-based accounts. When Morgan Keegan was acquired by Raymond James, Dorinda transitioned to the cost basis department as a portfolio accountant III, and ultimately as a reporting analyst, where she specialized in reconciliation, pricing, and performance.

Prior to joining W&A, Dorinda spent four years as operations associate at SouthernSun Asset Management where she was responsible for working with numerous custodians and maintaining over 2000 client accounts.

Dorinda generously contributes to many non-profit organizations and enjoys spending time with her husband and three children.

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