Richard Wallace was saved at the age of fourteen and he surrendered to preach that same year. He served the Lord eagerly and faithfully in his local church and he was active in teen revivals and street preaching. He is a graduate of Midwestern Baptist College in Pontiac, Michigan, where he received his Bachelor's degree in Religious Education. He received an honorary Doctor of Divinity Degree from Midwestern in 1990.

He has been married to Paula for more than thirty years. They have two children; Marianne and Richard, Jr., who are now both married, each with two beautiful children. Pastor Wallace founded Temple Baptist Church, of Lewisville, TX, in November of 1977. There were eleven people in attendance for the first service. The church now averages eight hundred in attendance.

Pastor Wallace has preached in multiple conferences and Christian colleges around the country as well as internationally including Australia, New Zealand and Mexico.