Executive Suite: Charlie Massimo

Charlie Massimo, a former financial adviser with a major brokerage firm, launched his own wealth management company in 2003.

The father of triplets -- including two sons on the autism spectrum -- had poured his life savings into the new venture. He recalls, "I was in a rented office by myself saying, 'What am I going to do?' "

Today, his Melville-based firm oversees nearly $200 million in client assets.

Massimo, 48, is involved with autism support groups and Pal-O-Mine, a therapeutic horseback riding program in Islandia.

 Do you believe the recession is over?
"I don't know. Our job as a wealth manager and adviser is not really to predict one way or another but really to help our clients resist the urge to panic and do some real inappropriate things that might affect their long-term wealth. We really manage emotions more than anything else in this business." 

How has the recession impacted business?
"We've been a lot more aware of our clients' feelings -- to keep them well-balanced. In any recession, for those people who are forward-looking business owners, it's a tremendous opportunity to grow. But, unfortunately, I think too many cut back. Just like in good times you overspend, in bad times most people cut back way too much." 

What are your plans for growth?
"We hired a PR firm, we're doing a lot more in the social media arena. We hired a company to do online videos for us to really help get the word out more. We're spending money to expand our business -- at the same time, not losing focus of our current clients and doing what we need to keep them happy and confident." 

What do you look for in hiring?
"Someone that has a long-term perspective, someone that has a vision for themselves, for their career, for their life, and is able to articulate what that vision is, even if it's two sentences. Someone that really has a plan."

What's your leadership style?
"You want to lead by example, obviously. But you also want to allow [employees] enough independence to do the things they want to do. You always expect feedback. You never have one way of doing anything. You're always open-minded to hearing from other people, how they view certain things. You're always taking their opinions to heart and you try to initiate some of what they bring to you instead of you always directing. It's really giving them freedom to be creative and learn how to grow -- always having a watchful eye over what they do." 

What advice do you have for someone starting a business?
"Be incredibly committed. It's probably harder than you think it's going to be. Have a goal in place and go into it for the right reasons. You have to have a passion for whatever it is you're going to do. The money's secondary, but the passion has to be first."

 Corporate snapshot

 Name: Charlie Massimo

Title: President

Company: CJM Fiscal Management

Business: Wealth management

Location: Melville

Type: Private company

Revenue: $1.5 million a year

Employees: 5