‘When I have the money, I’ll work with a financial planner.’
There is a lot of fear and stress around money, and a disproportionate number of women are intimidated by the prospect of working with a financial planner. It’s never fun to be judged, and many of us operate under the mistaken notion that financial planning is reserved for the rich. Today’s guest would argue that financial planners can help people in any income bracket, at any stage of their lives.
Brittney Castro is the founder and CEO of Financially Wise Women, a financial planning firm that seeks to teach women and couples the art of managing their money the fun and simple way. She created the firm in an effort to help women get their financial lives in order, using an approach that is smart, compassionate and nonjudgmental. Castro is a Certified Financial Planner, Chartered Retirement Planning Counselor, Accredited Asset Management Specialist, and a sought-after speaker and resource for national media outlets such as CNN, CNBC, The Wall Street Journal, The New York Times, and Entrepreneur.
Castro also serves as the Chase Financial Education Ambassador to promote financial literacy, and a CFP Pro spokeswoman on the CFP Board campaign to educate more women and minorities about the career of financial planning. Today she shares how working with female clients allows her to be more authentic in a male-dominated profession, why a career in financial planning is a good fit for women, and the benefits of getting your financial life in order regardless of the size of your bank account.
Key Interview Takeaways
Because women speak differently about their financial goals, it may be beneficial for female clients to work with a female financial planner. Castro finds that she can be more authentic with her female clients, approaching the topic of money from a uniquely female perspective.
The CFP campaign to foster diversity in the profession seeks to educate women and minorities about financial planning as a viable career option. As a spokesperson for the campaign, Castro leverages her own journey, inspiring the next generation to consider a career in financial planning.
The benefits of being a financial planner include a flexible work schedule as well as the opportunity to make a significant impact in people’s lives. Castro sees the career as a good fit for women, and hopes to change the bleak statistic that less than 20% of CFPs are female.
The process of sitting down with a financial planner involves three major components: 1) An initial consultation call, 2) Data, strategy and implementation meetings to build a budget and educate clients about their options, and 3) Review meetings to assess progress and address changes.
Financial planners can help people in any income bracket, at any stage of their lives. You don’t have to be a millionaire to benefit from the advice of a professional.
Designing a financial plan and implementing systems around your money provides freedom, stability, clarity and peace of mind.
Connect with Brittney Castro