From the housing crisis to a global pandemic, finding financial stability at any point in the prior ten years required hard work, a lot of effort, and a bit of luck along the way. Not a stranger to the field or the struggles therein, Joey Feste founded KM Capital Management to help his clients overcome any hurdles that they must eventually clear.

Brought to life in 2004, KM Capital Management is an extension of Joey Feste’s lifelong commitment to helping others in their financial efforts to achieve their dreams and goals. More than just the founder and Senior Managing Partner of KM Capital Management, Feste has become a bastion for advice and guidance to those within and outside of the industry.

Let’s explore Feste’s career, his guidance, and the steps he’s taken along the way to maximize his potential.

Professional Background: From Advisor to Managing Partner

Long before Joey Feste was a household name within the financial sector, he was studying at the University of Texas. It was there that Feste began his fascinating career in the financial field, tracing Econ class after Econ class on the way to earning his Bachelor of Arts in Economics. After graduating from school in 1987 with a passion for finance, Feste would turn his attention toward the offices of Rotan Mosley.

At Rotan Mosley, Feste would break into the industry by working as an investment advisor representative. His work would involve helping individuals manage their investments, explore their finances, and tackle adjustments that would benefit their overall financial health.

By the time Rotan Mosley had transitioned into its new leadership as Paine Webber, Joey Feste would have already left the business behind for a position at Morgan Stanley. It was at Morgan Stanley that Feste came to realize his potential as well as the limits imposed upon him by the current financial system.

It quickly became apparent at Morgan Stanley that Feste felt way too restricted to potentially help his high-earning clients. Focused on athletes and entertainers, Feste only had a few limited tools in his toolbox to offer support. Still, Feste did his best to offer customized financial services that met and exceeded the needs of the individual.

By the time 2004 rolled around, Joey Feste had decided that he was done working under the auspices of another leader. Feste would establish KM Capital Management to better represent his clients as an investment advisor. Through KM Capital Management, Feste was able to promise more curated services that were tailored to the specific needs of the individual.

Feste said of his efforts at KM Capital, “We touch nearly every part of their financial lives so that nothing falls through the cracks.”

Joey Feste Jr. first began his career at McColl working as an analyst while specializing in mergers and acquisitions. As a family business, Joey Feste Jr. would quickly join the ranks alongside his father at KM Capital Management.. After graduating from the same institution, the University of Texas, Joey Feste Jr. would take on the role of managing day-to-day operations for the company.

Developing a Financial Safety Net For the Future

Even though much of his work is focused on high-level earners, professional athletes, and celebrity entertainers, a safety net is important for everyone. While Feste’s traditional clients have may have an extra zero besides their net worth, his suggestions are still helpful for earners on every level of the financial ladder.

According to a report published by CNBC, fewer than 50% of Americans have enough money set aside for unexpected expenses. According to Feste, this just isn’t something sustainable for families hoping to have a healthy future. Feste said, “We can’t see into the future and, therefore, can’t plan for the unexpected.”

To offset potential issues with finances and emergency expenses, Fest advocates raising at least six months of emergency funding before stashing it in your bank account. While this amount may seem insurmountable to many folks struggling to make ends meet, there are a few ways to approach the task with relative success.

• Pay YOURSELF First – First and foremost, you should set aside a percentage of every paycheck for your savings when you get paid. Automate this process by sending your deposits directly to your bank’s savings account. A good benchmark, according to Feste, is roughly 10% of your take-home pay set aside in savings every single month. If this amount is insurmountable, cut it in half and repeat until it works with your budget.
• Save Unexpected Windfalls – Don’t let a sudden influx of money change the way you approach your budget. Take this windfall, be it from the lottery or a garage sale, and stash it in your savings account. Get ahead of your goals concerning filling your safety net and the entire process will become easier as a result.
• Be Mindful and Disciplined – Any time that you begin developing a savings account, the urge to withdraw a few dollars at a time may manifest. Be disciplined about how much you withdraw from your bank while reserving the efforts only for emergencies. Focus on longer-term goals when trying to decide if you should withdraw money from your emergency savings or not.
• Involve the Family – In the same way that Joey Feste Jr. joined his rather at KM Capital, families at home can work together to develop a nest egg for the future. Work together with the family to develop a budget, find areas to limit expenses, and pursue fun alternatives to expensive hobbies and family nights.

As the Senior Managing Partner and Founder of KM Capital Management, Joey Feste is uniquely focused on helping his clients find the financial planning services that their dreams will require. With three decades of experience working one-on-one with individuals of every financial and professional background, Feste and the team at KM Capital Management is ready to help guide you during the next stage of your financial journey.