Charles Norfleet is a distinguished wealth manager and principal at Norfleet Advisory, a division of Cetera Advisor Networks LLC.
With deep experience in economics, Charles earned his bachelor’s degree from George Washington University and then enhanced his credentials by obtaining the Certified Financial Planner (CFP) designation.
Based in Boston, Massachusetts, Charles has developed a strong career focused on creating customized financial strategies that meet the long-term goals of his clients. His approach combines rigorous financial acumen with a deep understanding of clients’ individual needs, ensuring a personalized service that extends beyond traditional wealth management.
Aside from his professional endeavours, Charles Norfleet Passionate about community service and financial education. His personal website serves as a platform to exchange ideas and connect with professionals in various industries, promoting a community of collaboration and ethical practices.
In his spare time, Charles enjoys golf, tennis, squash and skiing, activities that not only satisfy his personal interests but also maintain his physical health and mental well-being.
What inspired you to launch your new personal website?
I launched my new website with the primary goal of expanding my reach beyond traditional one-on-one client interactions. I wanted to have a platform where I could share my ideas more widely and create a space for dialogue and exchange with other professionals in different industries. It is an extension of my commitment to transparency in financial planning and a way to foster a community focused on growth and ethical practices.
How do you see wealth management evolving over the next ten years?
The wealth management industry is on the cusp of significant change, driven primarily by technological advances and changing client expectations. Over the next decade, I expect greater integration between AI and machine learning to personalize financial planning more effectively. Additionally, I see a continuing trend toward transparency and customer-focused services.
What are the biggest challenges facing new entrants in wealth management today?
One of the major challenges faced by new entrants is the highly competitive nature of this industry coupled with the rapid pace of regulatory and technological changes. Staying informed and adaptable is crucial. Additionally, building a reliable client base requires not only financial acumen, but also strong interpersonal skills and a deep understanding of customer needs, which takes time and experience to develop.
Can you describe a particularly rewarding experience from your career?
One particularly rewarding experience was helping a client who was nearing retirement but felt unprepared. Through comprehensive planning and strategic adjustments, we were able to secure not only a comfortable retirement plan for them, but also a legacy for their grandchildren. Seeing the relief in my clients’ eyes was incredibly satisfying and reinforced why I chose this career path.
How do you deal with risk management in your financial planning?
Risk management is essential to effective financial planning. I approach it by first thoroughly understanding the client’s risk tolerance and financial goals. Hence, I use diversified investment strategies and constant monitoring to mitigate risks. Educating clients about the nature of market volatility and the importance of staying the course is also a key part of my process.
What strategies do you use to stay on top of economic trends and financial news?
I maintain a strict schedule of reading financial journals, attending industry conferences, and participating in webinars and continuing education courses. Networking with other professionals in the field also provides diverse perspectives and insights, which is invaluable.
What role does client education play in your practice?
Client education is key to my practice. I believe that empowering clients with knowledge about financial markets and investment strategies fosters more confidence and helps them make informed decisions.
How do you balance your personal investment biases when advising clients?
To balance my personal investment biases, I rely on a disciplined, process-oriented approach to financial planning. This includes using evidence-based investment strategies and regularly reviewing and modifying these strategies based on objective market data and the client’s goals, rather than personal opinions.
How has your role changed since you started in this industry?
When I started, my role was largely focused on investment management and financial analysis. Over the years, as the industry has evolved, my role has expanded to include more comprehensive wealth management services – such as estate planning, investment tax strategy, and philanthropic planning. The scope of customer interactions has expanded, requiring a more holistic approach to each customer’s financial life.
Looking to the future, what personal goals have you set for the next five years?
My primary goal is to grow my practice in a way that maintains the high level of personal service we are known for. I also aim to deepen my involvement in community service and financial literacy programs, especially targeting underserved communities. On a personal level, I am committed to continuous learning, whether that is earning new certifications or exploring new areas of finance and investing.