For several advisors, it’s not about what you know but who you know. For Keary Castleberry, the “who” in his life was his brother, who he credits as being his hero.
His brother also helped develop his start in the financial services industry.
“My brother and I got interested in stocks in the 70s - he was kind of my hero. I just followed him around and did whatever he did,” he said. “We were looking at the stock tables in the paper, and even though we didn’t have any money, we would just act like we did, and we would assume we could buy stocks. We followed different companies back then.”
Castleberry admits that interest wouldn’t have been enough to start a career in sales. After all, he had planned to go professional when he played college basketball at Baylor University and quickly realized he “wasn't as good as the guys that were going pro,” he says.
After a 10-year career at NCR Corporation selling computers, Castleberry decided to start investing into stocks again and become a financial planner. He hasn’t looked back since.
Thirty years later, now senior partner and managing director of the Castleberry Advisory Group at Snowden Lane's San Antonio, Texas office, Castleberry reflects what the most rewarding aspect of the work is. “Watching clients accounts grow and having the ability to do what they want to do with their money because we've invested wisely. I think that's the key,” he says.
As head of a solo practice, with only one client relationship manager working for him, he could employ more advisors, but instead chooses to maintain a personal relationship with each of his clients. He sends each client a letter and a Starbucks gift card on their birthdays.
This year, he invited each of his clients to join him at his ranch in Texas to watch the solar eclipse last month. It’s these few personal touches that has Castleberry being recognized as an InvestmentNews Awards 2024 Excellence Awardee, with the winners announced on June 20 at 583 Park Avenue, New York City in a glitzy, red carpet ceremony. Click here to register to attend.
Noting that it’s becoming increasingly challenging to educate clients because of all the misinformation being circulated through technology and influencers, Castleberry is quick to highlight that advisors should stay grounded in what they do and try to keep clients on track.
“Don’t let them make a mistake based on something that somebody says that’s probably not correct but sounds really good. That's been a challenge,” he added. “The industry's changed as people have more information.”
The move to charge data aggregators fees totaling hundreds of millions of dollars threatens to upend business models across the industry.
The latest snapshot report reveals large firms overwhelmingly account for branches and registrants as trend of net exits from FINRA continues.
Siding with the primary contact in a marriage might make sense at first, but having both parties' interests at heart could open a better way forward.
With more than $13 billion in assets, American Portfolios Advisors closed last October.
Robert D. Kendall brings decades of experience, including roles at DWS Americas and a former investment unit within Morgan Stanley, as he steps into a global leadership position.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
