The Founder and Senior Managing Partner of KM Capital Management, Joey Feste and Joey Feste Jr. have worked in tandem to build a family business and sprawling spiritual endeavor that has touched lives across the globe.
More than a financial leader, Joey Feste’s journey has involved many twists and turns as well as moments of clarity brought forth through tough life lessons.
Let’s take a closer look at how Joey Feste went from a position at Rotan Mosley to running a client-focused business catering to the unique financial goals and needs of clients everywhere.
An Introduction to Joey Feste
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Long before Feste was sharing his talents as the Senior Managing Partner of KM Capital Management, he was building his experience with more than thirty years of success in the field.
Joey Feste originally studied at the University of Texas, where he graduated in 1987 with a Bachelor of Arts in Economics. A short time later, Feste would find his way to Rotan Mosley, now known as Paine Webber, where he began serving as an investment advisor rep. After getting his feet wet in the field, Feste would find his way to Morgan Stanley, where he would begin to manage money for major athletes.
KM Capital Management was borne out of the efforts of Joey Feste and his close team, friends, and family members in 2004. Considered a leading private wealth management firm, KM Capital Management has become a one-stop-destination for experienced investment, financial, and legal advice while focusing on accomplishing the financial goals of clients.
According to Feste, the idea for KM Capital Management came when he realized that he could only help so many people at Morgan Stanley. Feste wanted a more hands-on approach, helping athletes to pay bills, negotiate leases, buy cars, and even purchase insurance. Feste says, “This is why I opened KM Capital.”
How Joey Feste Built KM Capital Management
While Joey Feste spent several decades building his experiences in the field while operating under Morgan Stanley and Rotan Mosley, his efforts in building KM Capital are far more interesting for future entrepreneurs and aspiring professionals.
Already considered a core aspect of financial literacy, wealth management skills are integral to our long-term ideas and objectives. As a Senior Managing Partner at KM Capital Management, Feste has helped countless individuals adopt plans for success in their financial life.
According to Feste, turning KM Capital Management into a successful endeavor meant focusing on both sides of the wealth-building calculation: savings and earnings. From Feste’s perspective, working with athletes at Morgan Stanley, many people new to money were only vaguely aware of how much they made and spent – leading to serious repercussions down the line.
When Feste realized that he could help people maximize their earning potential while improving their long-term savings potential, he knew that KM Capital Management was the way to go – and the entire family was going to come with him.
After establishing KM Capital Management in 2004, Joey Sr. would bring on Joey Feste Jr. to help tackle the needs of the business. With a B.A. in Finance from the University of Texas, Joey Feste Jr. would join the team as a Registered Investment Advisor Rep.
Money Management Tips From KM Capital Management
Even though financial management skills are integral to a long and successful life, they are not focused on them as often as they should be. As a result, many folks end up trying to make sound investment decisions without a strategy in place to define their long-term goals.
To make life easier for potential clients in the future, Feste revealed a few of his favorite Money Management tips in an exhibit on Medium.
While these tips are far from exhaustive, they reflect how Feste and his family were able to build KM Capital to the level that it has grown.
- Understand Key Details – Don’t just guess when it comes to your financial details. Feste points out that the most common cause of concern with financial planning comes from a lack of true financial understanding. Don’t rely on vague details, find out exactly what kind of money you are working with.
- Focus on Saving & Earning – Far too often, Joey Feste has seen clients focus entirely on one aspect of debt while not taking care of the other. One of the most common issues is the chronic saver who does not get their money to work for them. Instead of just throwing money into a saving account to sit and accrue small amounts of interest, Feste believes that investing is the better way to go. This leads us to our next point.
- Good versus Bad Debt – All debt is not made the same. Joey suggests that debt is a tool that can be welded positively, helping to improve lifetime earnings while increasing your job security. Learning the difference between functional debt (an investment) and useless debt (shiny new toys).
Learning to Invest With Joey Feste
For Joey Feste, success was a long game that required planning, faith, and a commitment to ideals. To pass on these same kinds of messages, Feste advocates an intentional approach to investing when the time is right.
There are a few low-effort ways to embrace investing at a relatively young age and Feste has outlined a few of his suggestions below.
- Employer Match Programs – While it isn’t easy to build an empire overnight, it becomes much easier with a little bit of support. Employer Match Programs are a great way to build equity with as little as a 3% salary matching deposit. Feste also suggests the ‘cookie jar’ approach by saying, “It is less useful to focus on the goal and more useful to focus on systems and strategies.”
- Keep Saving Simple – The more complicated the process, the less invested the average person will be. Feste advocates a simple investment strategy before wading into the deeper pools of finance. Feste suggests to his followers that they explore low-initial investment mutual funds.
- Mutual Funds – Finally, Feste believes that mutual funds are an ideal way to start saving and investing in the future. That being said, most mutual funds require a minimum of $500, though some funds will waive these minimum demands.
As Feste is a one-of-a-kind individual himself, he suggests that others look to their unique traits and skills. Feste says, “Don’t compare yourself to anyone else!”