Dr. Fred Wallace was born and raised in Bessemer, Alabama. After graduating from Indian Springs School, he attended Tulane University and received a bachelor's degree in chemistry. He received his Doctor of Optometry degree from the UAB School of Optometry in 1982 and began practicing in his hometown with his father, Dr. Harry Wallace. Wallace Optometry Associates have been providing eye and vision care for their patients for over 70 years. 

Dr. Wallace is Board Certified (ABO) and is a Fellow of the American Academy of Optometry. He is a member of the American Optometric Association and was named Alabama Optometrist of the Year in 2010. In 2018, he was named UAB School of Optometry Alumnus of the Year. Currently, Dr. Wallace is the Executive Director of the Alabama Board of Optometry. He is an Eagle Scout and enjoys volunteer service with the Boy Scouts of America. His hobbies include hiking and biking with his wife Janet, photography, and trying to keep old Porsches running.