January 2018 Featured Interview |
|
Interview with
Brittney Castro
Founder & CEO of Financially Wise Women
Photo Credit: Kofa Boyah
About Brittney:
Brittney Castro is a Certified Financial Planner™, Chartered Retirement Planning Counselor, Accredited Asset Management Specialist, entrepreneur and speaker who loves sharing her wisdom about finance, entrepreneurship and smart investing. She is the founder and CEO of Financially Wise Women, a Los Angeles-based financial planning firm whose mission is to teach women and couples the art of managing their money the fun and simple way. After years of working in the male-dominated world of financial planning, Brittney realized she wanted to work with clients the same way she talks about money with her girlfriends – in a smart, personal, feminine way that’s compassionate, fun and nonjudgmental.
Brittney has become a well-known financial expert and a go-to resource for national media outlets. She has been featured on CNN, CNBC, and CBS as well as in publications such as The Wall Street Journal, The New York Times, Glamour, Woman's World, Investment News and Entrepreneur magazine. She’s also a coveted speaker and host, and she loves spreading her wisdom about finance, entrepreneurship and smart investing to the masses.
Additionally, Brittney serves as the Chase Financial Education Ambassador, a role in which she travels the country, giving interviews and speaking at events in an effort to spread financial literacy to more women and men. She is also a CFP® Pro spokeswoman in the CFP Board Center for Financial Planning campaign to educate more women and minorities about careers in financial planning. Finally, Brittney serves as an Entrepreneur Network Partner to provide entertainment, education and inspirational content to the millions of entrepreneurs seeking actionable, entertaining content.
Brittney Castro is a Certified Financial Planner™, Chartered Retirement Planning Counselor, Accredited Asset Management Specialist, entrepreneur and speaker who loves sharing her wisdom about finance, entrepreneurship and smart investing. She is the founder and CEO of Financially Wise Women, a Los Angeles-based financial planning firm whose mission is to teach women and couples the art of managing their money the fun and simple way. After years of working in the male-dominated world of financial planning, Brittney realized she wanted to work with clients the same way she talks about money with her girlfriends – in a smart, personal, feminine way that’s compassionate, fun and nonjudgmental.
Brittney has become a well-known financial expert and a go-to resource for national media outlets. She has been featured on CNN, CNBC, and CBS as well as in publications such as The Wall Street Journal, The New York Times, Glamour, Woman's World, Investment News and Entrepreneur magazine. She’s also a coveted speaker and host, and she loves spreading her wisdom about finance, entrepreneurship and smart investing to the masses.
Additionally, Brittney serves as the Chase Financial Education Ambassador, a role in which she travels the country, giving interviews and speaking at events in an effort to spread financial literacy to more women and men. She is also a CFP® Pro spokeswoman in the CFP Board Center for Financial Planning campaign to educate more women and minorities about careers in financial planning. Finally, Brittney serves as an Entrepreneur Network Partner to provide entertainment, education and inspirational content to the millions of entrepreneurs seeking actionable, entertaining content.
In a recent phone interview, Senior Editor Nancy Burger spoke with Brittney about her vision, priorities and hopes for Financially Wise Women.
What was the process that brought you here?
I earned a college degree in business economics, then went to work for a financial planning company. Although after five years I was considered "extremely successful," I also felt out of place - a young woman working in an office full of men. I liked the work, but didn't like corporate America. I saw a huge need to help women like me who were smart and savvy, but to do it in a way that was empowering and educational versus one that talked down to them and made them feel worse. I needed more freedom to work with the clients I wanted in a way that felt more authentic to me and also served them better. So, I went to work for an independent company and started marketing myself as a financial planner for women. But soon I realized that I needed and wanted even more freedom, so I decided, 'Okay, well I'm going to start my own financial planning firm.'
Have you done what you set out to do so far?
Yes. I'm happy to say that the vision I had five years ago is the business I have now. We do "fee only" financial planning, which a lot of clients love. We're not here to sell products. We're only here to hold our clients' hands, get their budgets and accounts up and running and educate them on financial strategies so that they feel empowered when making decisions. I see my clients begin to think abundantly and positively about their money, instead of falling into the fear and scarcity mentality that I think a lot of women have and society in general has.
On the Financially Wise Women home page, you characterize the site as a place that "empowers you about your money and talks to you in a way that makes sense and doesn't diminish you or your power." Are you seeing a palpable difference in your clients from when they start working with you to when they finish?
What was the process that brought you here?
I earned a college degree in business economics, then went to work for a financial planning company. Although after five years I was considered "extremely successful," I also felt out of place - a young woman working in an office full of men. I liked the work, but didn't like corporate America. I saw a huge need to help women like me who were smart and savvy, but to do it in a way that was empowering and educational versus one that talked down to them and made them feel worse. I needed more freedom to work with the clients I wanted in a way that felt more authentic to me and also served them better. So, I went to work for an independent company and started marketing myself as a financial planner for women. But soon I realized that I needed and wanted even more freedom, so I decided, 'Okay, well I'm going to start my own financial planning firm.'
Have you done what you set out to do so far?
Yes. I'm happy to say that the vision I had five years ago is the business I have now. We do "fee only" financial planning, which a lot of clients love. We're not here to sell products. We're only here to hold our clients' hands, get their budgets and accounts up and running and educate them on financial strategies so that they feel empowered when making decisions. I see my clients begin to think abundantly and positively about their money, instead of falling into the fear and scarcity mentality that I think a lot of women have and society in general has.
On the Financially Wise Women home page, you characterize the site as a place that "empowers you about your money and talks to you in a way that makes sense and doesn't diminish you or your power." Are you seeing a palpable difference in your clients from when they start working with you to when they finish?
|
Oh absolutely. I coach my clients almost like a personal trainer would. And it's just like any good makeover story: You give people the education and the tools, and then you see a light bulb go off. Usually within the first month of working with me, my clients see significant changes in how they're spending and tracking their money. And I think that's what happens whenever you put time and money into changing something - the Universe lines up to help you. And, you know, clarity is so powerful. When you get clear about something, it's a lot easier to make it happen. I think some of the biggest benefits, though, are just seeing clients walk out feeling confident and excited about their money. It's about giving clients, specifically women, the freedom to use their money, feel that confidence, and live more confidently as a result.
|
|
It really does all weave together. I think most fears tie back to a level of insecurity. You refer to yourself as a holistic planning firm. You talk about things like anxiety, then relate it back to money. It's like the brain-body connection in medicine.
I think that's the reality of the world we live in. There's a raised consciousness now - people realize that it's not just about whether or not you have money, but the anxiety, fear and worry around it. How do you overcome that? I think that when you combine the tactical budgeting with the money mindset, that’s how you'll feel the financial freedom and security you're looking for. It's not that it comes automatically when you get a million dollars in your portfolio. You have to work on it no matter where you are financially.
The thing that struck me right away when I first visited your site was your branding, your vibe. You're doing something vastly different than most other financial planning firms. Was that intentional?
Thanks for saying it, because it's been very intentional, very strategic, and a lot of time and money has gone into the brand. I was setting out to create a new generation of financial planning. I didn't want the stuffy image or the picture of the beach scene with the hammock - the message that "you're going to retire when you have gray hair."
A quote found on your site is: "Don't be pushed by your problems, be led by your dreams." Is that your tag line?
What we want to communicate is "We help you use your money to live a life you love." We're not selling you anything. We're here to educate you, empower you, and hold your hand to get things done. And I think that resonates with the type of clients we work with. I think money is one of the last things talked about and is a road block for a lot of people - and what's usually underneath that is fear. People are just really scared to change. Especially for women, I think it's really frightening to tap into our own power because many of us have been told to keep it down, that we don't deserve what we want. The reality is that you don't have to keep your power down, and you can get what you want. It's very inspiring for other people when you're powerful in your own unique way. It doesn't mean you have to be aggressive, it just means going after what you want and owning it. It's hard, though, and a lot of people aren't ready to deal with it. I want to get the message out that you're not alone in that.
I think that's the reality of the world we live in. There's a raised consciousness now - people realize that it's not just about whether or not you have money, but the anxiety, fear and worry around it. How do you overcome that? I think that when you combine the tactical budgeting with the money mindset, that’s how you'll feel the financial freedom and security you're looking for. It's not that it comes automatically when you get a million dollars in your portfolio. You have to work on it no matter where you are financially.
The thing that struck me right away when I first visited your site was your branding, your vibe. You're doing something vastly different than most other financial planning firms. Was that intentional?
Thanks for saying it, because it's been very intentional, very strategic, and a lot of time and money has gone into the brand. I was setting out to create a new generation of financial planning. I didn't want the stuffy image or the picture of the beach scene with the hammock - the message that "you're going to retire when you have gray hair."
A quote found on your site is: "Don't be pushed by your problems, be led by your dreams." Is that your tag line?
What we want to communicate is "We help you use your money to live a life you love." We're not selling you anything. We're here to educate you, empower you, and hold your hand to get things done. And I think that resonates with the type of clients we work with. I think money is one of the last things talked about and is a road block for a lot of people - and what's usually underneath that is fear. People are just really scared to change. Especially for women, I think it's really frightening to tap into our own power because many of us have been told to keep it down, that we don't deserve what we want. The reality is that you don't have to keep your power down, and you can get what you want. It's very inspiring for other people when you're powerful in your own unique way. It doesn't mean you have to be aggressive, it just means going after what you want and owning it. It's hard, though, and a lot of people aren't ready to deal with it. I want to get the message out that you're not alone in that.
With clients, do you concentrate primarily on budgeting and debt management, or do you also discuss investing options?
|
We actually talk a lot about investing. Many of our clients have investment accounts, and we review them and make sure they're invested properly. We also spend a lot of time on education. What is a mutual fund? What's the right investment strategy for you? And we discuss fees and what level of wealth management a client might need. The reality is, technology has really changed the way investing can be done, and some clients can do a lot of their investing themselves—which can save them a lot of money in fees.
What do you think gets in the way of women when it comes to finance? A lot of shame and guilt. If you look at the history, women haven't always had the ability to manage the money, to get a loan at the bank. It's still relatively new that we're a part of this process, and I think there's still a lot of shame for women who think they should understand it all, but they don't. |
Photo Credit: Wellington Guzman
|
Women business owners, for example, tend to be much less comfortable than men in taking on risk to grow their business. They tend to use their own money, not incur debt or pursue private investors. I remember when I started this business, I felt like I should know everything about business finance just because I was a financial planner. I ended up wasting a lot of money.
I think your approach will help women feel comfortable in their skin. If a woman sits in front of you and feels intimidated, no learning will happen.
You're spot on. I think there's the feminine essence in my business that makes it different. I'm learning how to tap into my own power as a woman and do things my own way. My approach is more community-based, and I do things with a lot more heart than ever before.
If you could give one piece of advice to women that feel trapped financially and nervous about their future, what would it be?
I would say take the first step and talk to a financial planner, because at least you'll learn some options about how to get unstuck. It can be hard to ask for help, to admit that you don't know, but it can start things moving in the right direction.
Away from the office, you can find Brittney working out, drinking coffee or a green smoothie, playing at the park with her dog Arya and, of course, dancing.
I think your approach will help women feel comfortable in their skin. If a woman sits in front of you and feels intimidated, no learning will happen.
You're spot on. I think there's the feminine essence in my business that makes it different. I'm learning how to tap into my own power as a woman and do things my own way. My approach is more community-based, and I do things with a lot more heart than ever before.
If you could give one piece of advice to women that feel trapped financially and nervous about their future, what would it be?
I would say take the first step and talk to a financial planner, because at least you'll learn some options about how to get unstuck. It can be hard to ask for help, to admit that you don't know, but it can start things moving in the right direction.
Away from the office, you can find Brittney working out, drinking coffee or a green smoothie, playing at the park with her dog Arya and, of course, dancing.
