Our Team

James Gallagher has nearly a decade of experience in the wealth management industry. With his background in mathematics and engineering, and a passion to help others achieve their retirement goals, he created the foundation for opening Waterstone Financial. He has an innovative, intellectual and intuitive approach.

James graduated at the top of his class from the University of Western Ontario and went on to become a Director of Engineering at General Motors. With a Minor in Economics and Finance, James was also responsible for massive budgets and was instrumental in leading many successful, cost-effective programs, as well as introducing many efficiencies that ultimately saved GM millions of dollars.

As the economic tides changed and the automotive industry faced a crisis in 2008, James and his family were caught in the resulting downward slide felt by so many.  Although James loved engineering, this presented him with an opportunity to follow his dreams, start his own business, and relocate to Southwest Florida where he has since been actively involved as a retirement planner and financial advisor in Fort Myers. 

Today, James is on a mission to help change the face of the financial services industry. Utilizing his talents and expertise as an engineer, James conducted a critical analysis of the financial industry and began to apply engineering principles to financial planning. Applying many of the same engineering principles to financial services, James strives to design, build and test retirement plans with precision and thoughtfulness.

James and his wife Amy, a native of Southwest Floridian, married in 1982 and have two wonderful adult children, Jeremy and Abby. James believes in working hard and playing hard and particularly enjoys sailing, cycling, recording music in his home and spending time with family and friends.

Karla White has been a cornerstone of Waterstone Financial since the doors first opened. As Vice President and Client Account Manager, Karla brings extensive expertise and a heart-centered approach to client service, making her a trusted advisor and a key leader within the firm. Her role is central to Waterstone’s commitment to building lasting and meaningful client relationships that go far beyond mere financial transactions.

With comprehensive cross-training across all departments, Karla possesses a holistic understanding of Waterstone’s operations. This unique perspective enables her to seamlessly step into any function when needed, ensuring continuity and top-tier service regardless of the situation. Her leadership drives the firm's strategic goals by delivering responsive, personalized service that resonates with the unique needs of every client.

Karla’s philosophy centers on authentic and consistent engagement—transforming client interactions into lifelong financial partnerships. She is passionate about cultivating enduring relationships and fostering a client-first culture where satisfaction, trust, and personalized attention drive organic growth through referrals and strong word-of-mouth.

Remember those three young kids Karla had when Waterstone first opened its doors? Well, those kids—Lauryn, Cameron, and Faith—are now all off (or nearly off) embracing exciting new chapters in their college journeys. That means Karla and her finance Aaron are stepping into a brand-new season themselves: adjusting to life as soon-to-be empty nesters and discovering what this next phase has in store.

Phil is an experienced financial professional with 12 years in the consumer finance industry, having worked with some of the most recognizable names in the business, including TD Bank, Rocket Mortgage (formerly Quicken Loans), United Wholesale Mortgage, and Guaranteed Rate. Throughout his career, Phil has excelled in various roles, primarily as a mortgage banker and senior underwriter, where he developed a deep understanding of lending processes and a general financial aptitude.

As a registered investment advisor representative, Phil brings a unique combination of expertise in both traditional finance and investment management, allowing him to provide comprehensive financial strategies to clients.

Phil’s competitive spirit drives his approach to work—always striving for excellence and pushing for optimal outcomes for clients. Outside of the office, Phil is an avid dog and animal lover, often spending his free time hiking, kayaking, and exploring the outdoors. He’s also a tech enthusiast with a passion for computers. Recently married to his beautiful and incredible wife, Abby, Phil is enjoying this exciting new chapter of his life; balancing his career with his love for family, animals, and the great outdoors.

Adam is a Certified Financial Planner® and upholds the strict Fiduciary standards of conduct and code of ethics of the CFP® Board. Adam is an Investment Advisor Representative (IAR) with a bachelor’s degree in finance and a concentration in Financial Services from FGCU. He approaches financial planning like a complex puzzle—each piece of data revealing part of a bigger picture. For him, it is all about strategy and precision, where solving problems through process-driven insight is the ultimate win.

Adam was born and raised in SWFL, enjoys golf and fishing, is in a committed relationship, and has a Golden Doodle named Bunny.

Colleen has been an invaluable member of the Waterstone Financial team since 2012. Her cheerful demeanor, positive attitude and infectious smile are only eclipsed by her strong work ethic, attention to detail and deep commitment to client care. Colleen has over 20 years’ experience in the financial industry, working for organizations such as Smith Barney, Private Capital Wealth Management and Grace Advisory Group.

Colleen was born in Saginaw, Michigan and moved to Southwest Florida in 1987. She has two sons and four step children who keep her busy on weekends. 

Colleen is very active in her community, supporting the Boy Scouts of America as a Committee Member for Troop 951. Colleen also enjoys watching baseball and hockey, camping, going to the beach and fine dining with friends.

Amy Gallagher has been with Waterstone Financial since the very beginning providing guidance and extra support wherever needed as the business has continued to grow.

Amy earned her BA from The University of Western Ontario in business and psychology. Over the years she has been a top producing realtor as well as a property appraiser and mortgage broker. Married in 1982, Amy and James are the parents of two wonderful children!

In addition to providing ongoing administrative support at Waterstone Financial, Amy is a Notary Public and a pilates instructor. She has a passion for sailing, travel, golf, and entertaining family and friends.

A close and trusted friend of the Gallagher family for many years, Sue Wood began providing tax preparation services for Waterstone Tax Services in 2013. 

Sue brings many years of experience from her extensive business management and entrepreneurial background. She has been instrumental in several small business startups and operates a very successful accounting service. 

Sue possesses an uncompromising work ethic, meticulous attention to detail and sound judgement. She applies these traits consistently to ensure accurate tax preparation, reduce tax burdens and provide maximum asset protection for our tax clients.

Sue is from Southeast Michigan and has been a part-time resident of Southwest Florida for more than 16 years. When not working diligently in the office, Sue has a passion for cooking, catering special events, entertaining friends and family and volunteering for local charities.

Neil is President of the law firm, Neil R. Covert, P.A.
He has practiced law for 43 years and has focused his legal practice exclusively in the areas of Estate Planning, Elder Law, Asset Protection and Probate since 1988. A featured speaker and frequent author on the topics of Estate Planning, Business Planning and Asset Protection Planning, Neil has written for and been quoted in numerous industry publications. He is a contributing author to four books.

In addition to serving as a guest lecturer on personal estate planning and business planning throughout the country, Neil is an approved instructor for over 20 Continuing Education courses on estate and business planning, from beginning to advanced planning techniques for Certified Public Accountants and Certified Financial Planners.

He graduated cum laude from the John Marshall Law School in Chicago, Illinois. He was an Associate Editor of the law review and was published in the law review with the treatise: The Marital Deduction Dilemma of the Surviving, Renouncing Spouse. Neil also holds a bachelor's degree in Business Administration from Simpson College, located in Indianola, Iowa.

Professional Credentials

-Admitted Attorney: Florida

-Member, Trusts & Probate Committee, Florida Bar Association

-Member, WealthCounsel, LLC – Estate Planning & Asset Protection attorneys

-Member, ElderCounsel, LLC – Elder Law attorneys

Abby graduated in 2011 from the University of Michigan. After a few years working on private, luxury yachts as a chief stewardess, she eventually settled down on land to launch her own business. In 2016, she opened up her event and wedding planning company called Blue Orchid Events & Design. Fast forward a few years, and Abby is now considered a premium vendor in the Miami luxury wedding market. She is often working with high end clientele throughout Palm Beach, Fort Lauderdale, Miami and the Keys and has been featured on multiple international publications.

The creative and logistical challenges of her own business, made her a natural fit to begin working on marketing materials and content for the family business. She is assisting Waterstone Financial with creating fresh, informative content through the website, newsletters, and marketing materials.

Recently married to Waterstone’s CCO, Phil McGrath, the two happily live in Fort Myers now with their 2 dogs, Skye & Duke.