EnterprenuerAnthony Pellegrino’s approach to financial planning is anything but conventional. The founder of Goldstone Financial Group has spent years refining a client-first strategy that bucks industry trends.
“We’re not here to push products,” Pellegrino often says. “We’re here to solve problems.”
This philosophy has guided Goldstone’s work with over 1,500 retirees, helping them navigate the tricky waters of post-career finances. Pellegrino’s team creates income plans that aim to keep money flowing, even when markets get choppy.
You might recognize Pellegrino from his Sunday morning CBS show, “Securing Your Financial Future.” It’s the latest chapter in a media career that included a popular five-year run on Chicago radio.
His industry peers have taken notice. Pellegrino’s been named a Five Star Wealth Manager in Chicago Magazine and ranked among the top advisors nationally. In 2013, he even shared a stage with former President George W. Bush at a Washington, D.C. event.
But for all his professional success, Pellegrino’s proudest achievements happen closer to home. He’s a fixture in Elmhurst, where he lives with his family. And his support for military causes, including work with the USO, is well-known in the community.
“At the end of the day,” Pellegrino says, “it’s about using what we’ve learned to make a difference.”
Where did the idea of Goldstone Financial Group come from?
Goldstone Financial Group was born out of a desire to offer more than just generic investment advice. My partner Michael and I noticed that many firms provided one-size-fits-all solutions that didn’t address individual needs. We wanted to create a holistic approach focusing on comprehensive income planning, tailored investment portfolios, realistic retirement strategies, and legacy planning. Our goal was to build lasting relationships with clients and provide them with personalized guidance for their financial futures.
What does your typical day look like and how do you make it productive?
My day typically begins with a brief workout and some time for prayer and reflection. This morning routine helps me center myself and prepare for the day ahead. At the office, I split my time between client meetings and business development. While I’m looking to focus more on growing the company, I still deeply value my client relationships and enjoy working directly on their cases. To stay productive, I rely heavily on my calendar, which helps me manage my time efficiently and ensure I’m giving each task the attention it deserves.
How do you bring ideas to life?
I’m fortunate to work with an exceptional team that helps transform my ideas into reality. While I often come up with new concepts, it’s my staff who do the heavy lifting in terms of implementation. They help me sift through my ideas, develop actionable plans, and see them through to fruition. I believe strongly in the power of teamwork and recognize that my success is largely due to the efforts of those around me.
What’s one trend that excites you?
The massive wave of baby boomers entering retirement is incredibly exciting. With about 10,000 people retiring daily, there’s a growing need for sound financial guidance. Many of these individuals don’t have clear post-career plans, and I’m thrilled that my team and I can help them navigate this significant life transition and secure their financial future.
What is one habit of yours that makes you more productive as an entrepreneur?
My morning routine is crucial to my productivity. The combination of exercise and prayer helps me clear my mind, relieve stress, and focus on the day ahead. This ritual sets a positive tone for the rest of my day and allows me to approach challenges with a clear head.
What advice would you give your younger self?
I’d emphasize the importance of work-life balance from the start. It’s easy for entrepreneurs to become consumed by their businesses, often at the expense of personal relationships. I wish I had spent more time with my family during the early, hectic years of building my business. Life moves quickly, and it’s crucial to cherish and enjoy every moment.
Tell us something that’s true that almost nobody agrees with you on.
I believe that despite current divisions and challenges, our nation will emerge stronger and more united. I’m optimistic that within 15 years, we’ll see significant positive changes, driven by technological advancements and innovation. I foresee a thriving future for American businesses and individuals, even if that view isn’t widely shared at present.
As an entrepreneur, what is the one thing you do over and over and recommend everyone else do?
I constantly operate as if my business could fail at any moment. This mindset keeps me vigilant and prevents complacency. As Darren Hardy, editor of Success Magazine, said, “Money makes people lazy; success makes people lazy.” I advise entrepreneurs to keep pushing forward, regardless of their current success, because the future is never guaranteed.
What is one strategy that has helped you grow your business?
I believe in taking calculated risks and moving forward. If an opportunity seems 80% positive after weighing the pros and cons, I go for it. Waiting for absolute certainty in business is a surefire way to stagnate. Growth requires taking risks and being willing to fail occasionally.
What is one failure you had as an entrepreneur, and how did you overcome it?
One of my biggest mistakes was trying to cater to all types of clients, even those who weren’t a good fit for our services. This led to frustration among both employees and clients. On the advice of a mentor, we decided to part ways with clients who didn’t align with our capabilities and interests. This allowed us to refocus on our core strengths and ultimately improved our business.
What is the best $100 you recently spent? What and why?
I recently purchased a pair of all-weather Nike gym shoes, which have been incredibly useful, especially during Chicago winters. They’re perfect for navigating the ice rinks where my sons play hockey. A close second would be a memorable dinner at Javier’s, a fantastic Mexican restaurant near Laguna Beach, CA. Sharing good food with loved ones is always a worthwhile investment.
What is one piece of software or a web service that helps you be productive?
Riskalyze is an invaluable tool for our business. It allows us to accurately assess our clients’ risk tolerance and evaluate potential outcomes in various market scenarios. We use it daily to provide more informed and personalized advice to our clients.
What is the one book that you recommend our community should read and why?
I highly recommend “What Got You Here Won’t Get You There” by Marshall Goldsmith. It provides valuable insights into avoiding the pitfalls of complacency after achieving success, which is crucial for continued growth and development.
What is your favorite quote?
I resonate with Warren Buffett’s words: “It is insane to risk losing what you already have in order to make what you don’t need.” This philosophy is particularly relevant in financial planning, where unnecessary risk-taking can jeopardize one’s financial security. I strive to instill this principle in our clients to help them maintain and grow their wealth responsibly.
