Justin Castelli certainly knows how to think outside the box. The owner of RL Wealth Management and a member of the XYPN Advisory Board, he developed a unique model that allows him to serve two different niches in the financial planning space. This so-called “barbell model” allows him to work with two types of clients: older clients that have wealth and younger clients that don’t.
In today’s episode, Justin shares his experience starting his own firm and explains why asset minimums can result in turning away good clients. He has found a way to serve those who have accumulated substantial wealth, as well as those who are just starting to grow their net worth, and he shares his system with us today.
Listen to the Full Interview:
What You'll Learn from This Episode:
- The inspiration behind Justin’s unique business model.
- What a CIMA is and how it differs from the CFA.
- Why Justin wishes he’d gone for a CFA instead of CIMA.
- The reason you shouldn’t necessarily turn away clients that don’t hit an income minimum.
- How Justin would have structured his compensation package if he could do it over again.
- Why the idea that you can’t have it all is false.
- The importance of figuring out your income goal.
- One piece of advice Justine wishes he could go back and give his younger self.
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