Breaking the Mold: Foster Victor's Unique Wealth Coaching Model with Kylie Felker
Episode 084: This week, Kyle Van Pelt talks with Kylie Felker, President of Foster Victor Wealth Advisors. Kylie leads the firm's strategic direction and innovation. She and Kyle discuss leadership, growth, and the intentional steps to building a thriving wealth management firm. From creating a strong team culture to designing a client experience that leaves lasting impressions, Kylie shares the challenges and triumphs of establishing a leadership structure, the importance of meaningful client relationships, and how Foster Victor stands out in a competitive industry.
In this episode:
- (00:00) - Intro
- (02:21) - Kylie's money moment
- (04:16) - The unique branding and digital presence of Foster Victor
- (05:52) - The origins of Foster Victor and its vision
- (08:12) - A team-based approach to client service
- (09:18) - Foster Victor's onboarding process
- (14:33) - Business models and hiring process
- (21:47) - Creating a leadership structure
- (24:23) - Foster Victor's core values and operating principles
- (30:33) - The role of AI in financial services
- (31:56) - Secrets to rapid growth
- (34:39) - Kylie's outlook on the future of the industry
- (36:16) - Kylie’s Milemarker Minute
Key Takeaways
- More families are embracing discussions about money, especially with the massive generational wealth transfer underway.
- Unlike firms focused solely on gathering assets, Foster Victor prioritizes comprehensive financial planning.
- Foster Victor operates with a team-based approach, where two wealth coaches serve as the main points of contact for each client, ensuring a more comprehensive and engaging experience.
- Client experience is everything. Thoughtful touches like birthday celebrations and retirement congratulations build lasting relationships.
Quotes
"There are a lot of people in the industry who are focused on gathering assets. We really wanted to focus on financial planning. We want to build people's life plans." ~ Kylie Felker
"In a world full of people who often underdeliver, we are trying to overdeliver. We're trying to think about the little things, put people first, and build relationships." ~ Kylie Felker
"People don't like to talk about money. But that's changing. There's a desire for people to have conversations with their children and their grandchildren about where they are, how they got there, and what they want that money used for." ~ Kylie Felker
Links
- Kylie Felker on LinkedIn
- Foster Victor Wealth Advisors
- Unreasonable Hospitality
- High Road Leadership
- The Energy Bus
- The Art of Encouragement
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