About Our Services

1. What makes Trammell Wealth different from other financial advisors?
We provide truly personalized financial planning and investment management with a fiduciary commitment—meaning your best interests always come first. We specialize in retirement planning for Florida’s state, local government, and medical professionals, giving us deep insight into your unique benefits and challenges.

2. Do you work exclusively with Florida state, local government, and medical professionals?
While we work with clients from many backgrounds, we have developed specialized expertise in FRS benefits, DROP planning, pension strategies, and hospital/union retirement plans. This allows us to provide highly targeted advice for these groups.

3. Do I need a minimum amount of assets to work with you?
No. We believe everyone deserves access to quality financial planning. That’s why we have no AUM minimums and offer flexible service options to fit your needs and budget.

4. What does “fiduciary” mean and why is it important?
Being a fiduciary means we are legally and ethically required to put your interests first, with full transparency in our recommendations and fees. This ensures our advice is always unbiased and client-centered.

5. How do you charge for your services?
We offer flat-fee financial planning and transparent investment management fees. You’ll always know exactly what you’re paying and what you’re receiving—no hidden costs or commissions.

6. Do you offer one-time financial plans or ongoing advice?
Yes. We offer both comprehensive one-time plans and ongoing planning relationships to fit your situation. Some clients want a clear roadmap they can implement themselves, while others prefer long-term guidance and support.

FRS & Government Employee Planning

7. What is the difference between the FRS Pension Plan and the FRS Investment Plan?
The Pension Plan offers a guaranteed lifetime benefit based on your years of service and salary, while the Investment Plan works like a 401(k)-style account you manage and invest. We help you evaluate which plan best aligns with your retirement goals and risk tolerance.

8. Can you help me decide if I should enter DROP (Deferred Retirement Option Program)?
Yes. We analyze lump-sum payouts, tax implications, investment options, and timing so you can make the most informed decision about entering DROP.

9. How do my FRS benefits work with my other retirement savings?
We integrate your FRS pension or investment plan with Social Security, deferred compensation (457b), IRAs, and other investments to create one coordinated retirement income strategy.

10. Can you help me plan for the tax impact of my DROP lump sum?
Absolutely. We create tax-smart withdrawal and investment strategies to minimize taxes and ensure your DROP funds support your long-term goals.

11. How do I combine my FRS retirement income with Social Security benefits?
We help you determine the best Social Security claiming strategy based on your FRS income, life expectancy, and other retirement assets—so you maximize total lifetime benefits. 12. Can I go back to work after retiring from FRS? FRS has strict re-employment rules. During the first 6 months after your retirement date, you cannot be employed by any FRS-covered employer — if you are, your retirement will be voided and you must repay all benefits received. After the 6-month waiting period, you may return to work with an FRS employer, but your pension benefit may be suspended depending on your employment type and hours. DROP retirees face their own specific re-employment restrictions. We help clients navigate employment-after-retirement decisions before they make a move that costs them. 13. Can I roll my FRS Investment Plan into an IRA? Yes. If you leave FRS-covered employment or retire, you can roll your FRS Investment Plan balance into a traditional IRA or another qualified plan without triggering taxes. This can give you more investment options, lower fees, and greater flexibility in your withdrawal strategy. We help clients evaluate whether a rollover makes sense compared to leaving funds in the Investment Plan or converting to Roth. 14. How does health insurance work after FRS retirement? Florida offers retiree health insurance through the State Group Insurance program for eligible FRS retirees. To qualify, you generally need at least 6 years of service for FRS Pension Plan members. Coverage options include HMO and PPO plans, and your premiums depend on your years of service and plan choice. Healthcare costs are one of the biggest retirement risks — we build them into your income plan well before you retire. 15. What is the FRS Investment Plan default fund? If you never made an active investment election in the FRS Investment Plan, your contributions were automatically placed in the FRS Select Balanced Fund — a target-date-style default fund. Many members don't realize this and may be invested in a fund that doesn't match their age, risk tolerance, or retirement timeline. We review your current allocation and help you build a strategy designed for your specific situation. 16. Can I collect my FRS pension and Social Security at the same time? Yes — but there's an important catch for some members. If you worked in a position not covered by Social Security (which applies to certain Florida government jobs), the Windfall Elimination Provision (WEP) may reduce your Social Security benefit. The Government Pension Offset (GPO) can also reduce spousal Social Security benefits. We run WEP and GPO calculations for every FRS client to make sure your Social Security strategy fully accounts for these rules.

Medical Professional Planning

12. Do you understand 403(b), 457(b), and hospital pension plans?
Yes. We regularly work with healthcare professionals who have 403(b), 457(b), and pension benefits through hospitals, universities, and healthcare systems. We ensure you’re making the best use of these plans.

13. Can you help me decide between Roth and pre-tax retirement contributions?
Yes. We run side-by-side projections to see which contribution type saves you more in taxes now and in retirement—so you can make an informed choice.

14. How do you help medical professionals with irregular work schedules plan for retirement?
We design flexible savings plans that work with variable income and changing schedules, ensuring you stay on track even when your work life isn’t predictable. 16. What is Public Service Loan Forgiveness (PSLF) and do hospital employees qualify? PSLF forgives the remaining balance on federal student loans after 10 years of qualifying payments while working full-time for an eligible public service employer. Many nurses, physicians, PAs, and other healthcare professionals at non-profit hospitals — including major health systems in Jacksonville — qualify. However, the rules around qualifying repayment plans, employment certification, and loan types are complex and easy to get wrong. We help medical professionals evaluate PSLF eligibility and build a student loan strategy that integrates with their broader financial plan.

15. Do you help with debt management, like student loans for medical professionals?
Yes. We help you create a comprehensive plan to manage and pay off student loans while still saving for retirement and other priorities.

Investments & Retirement Income

16. How do you choose the right investment strategy for me?
We start with your goals, time horizon, and risk tolerance—then create a diversified portfolio that fits your needs. We focus on cost efficiency, tax awareness, and long-term growth.

17. Will my retirement income keep up with inflation?
We factor inflation projections into your retirement income plan to help ensure your spending power is preserved over time.

18. Can you help me create a retirement paycheck from my savings and pensions?
Yes. We build a withdrawal strategy that turns your assets—pensions, Social Security, and investments—into a steady, predictable monthly paycheck.

19. Do you help with Required Minimum Distributions (RMDs)?
Yes. We make sure your RMDs are calculated correctly, taken on time, and integrated into your tax and income planning.

20. Can you manage my investments if I’m still working?
Absolutely. Many clients hire us years before retirement to grow their portfolio and prepare for future income needs 21. What does a retirement income plan include? A retirement income plan maps every source of income you'll draw from — and the order you'll tap them. Key components include: (1) guaranteed income — Social Security, FRS pension, annuities; (2) portfolio withdrawals — IRAs, 401(k)s, and investment accounts; (3) tax strategy — which accounts to draw from first to minimize taxes; (4) inflation adjustments — keeping your purchasing power intact over 20–30 years; and (5) healthcare costs — Medicare timing and long-term care. We walk every client through this analysis and can provide a personalized retirement income planning worksheet showing your projected monthly paycheck in retirement. 22. When should I start taking Social Security? The right time to claim Social Security depends on your health, other income sources, marital status, and financial goals. You can claim as early as 62 (with a permanent reduction in benefits) or delay up to age 70, when your benefit reaches its maximum. For every year you delay past full retirement age, your benefit grows by about 8%. For FRS retirees with pension income, delaying Social Security often makes sense — but it's not always the right answer. We model multiple claiming scenarios for every client to find the strategy that maximizes lifetime income. 23. How much money do I need to retire? A common rule of thumb is 25x your annual expenses in savings (the 4% rule), but the right number depends on your pension income, Social Security, lifestyle, healthcare costs, and retirement timeline. FRS members with a pension and Social Security have a significant advantage — you may need far less in savings than someone with no guaranteed income. We build a personalized retirement readiness analysis for every client so you have a clear target and a plan to reach it..

Tax & Estate Planning

21. Do you help with tax planning and tax return preparation?
Yes. We provide integrated tax planning as part of our financial services, and also offer tax preparation for qualifying clients.

22. How can I reduce my taxes in retirement?
We use strategies like Roth conversions, tax-efficient withdrawals, and charitable giving to help you keep more of your money.

23. What is a Qualified Charitable Distribution (QCD) and should I use one?
A QCD allows you to give directly from your IRA to a qualified charity—satisfying your RMD and avoiding income tax on the withdrawal. We’ll let you know if it’s a fit for your situation.

24. Do you help with estate planning or beneficiary designations?
Yes. While we’re not attorneys, we coordinate with your estate planning lawyer to ensure your beneficiaries, wills, and trusts align with your financial plan. 25. Does Florida have a state income tax? No. Florida is one of nine states with no state income tax, which is a significant advantage for retirees. Your FRS pension, IRA withdrawals, and Social Security income are all exempt from state income tax. This makes Florida an especially tax-friendly place to retire — though federal taxes still apply. We factor Florida's tax environment into every client's retirement income and Roth conversion strategy.

Getting Started

25. How do I know if I’m ready to retire?
We’ll run a comprehensive retirement readiness analysis—factoring in income, expenses, healthcare, and lifestyle goals—to help you decide with confidence.

26. What should I bring to our first meeting?
Bring recent account statements, pay stubs, benefit summaries, tax returns, and any financial concerns or goals you want to discuss.

27. Do you offer a free consultation?
Yes. We offer a complimentary 30-minute consultation to see if we’re a good fit.

28. Can we meet virtually or do I need to come to your office?
Both options are available. We work with clients in person, by phone, and via secure video conferencing.

29. How often will we meet to review my plan?
Most ongoing clients meet with us at least annually, with check-ins as needed for life changes or market events.

30. How do I get started?
Simply schedule a consultation. We’ll talk about your goals, explain our process, and outline next steps for building your personalized plan.