Tey Kim joined Fortis Lux in 2017, when the firm acquired Millennial Capital Partners, the successful boutique advisory practice he had built over the course of a decade. At Fortis Lux, Tey heads up the Millennial Strategies Group, a division dedicated solely to addressing the financial needs of the millennial generation.
Tey’s path to financial services arose out of his own need for advice. Working in the tech sector, he found that while he knew how to make money, he didn’t necessarily know how to manage it. In the process of seeking advice, he saw an opportunity to help others.
“Millennials are frequently overlooked by the financial services sector which tends to prefer working with their more affluent parents, the Baby Boomers,” he explains. Working with Millennials was never in question for Tey. As a member of this generation, this is whom he connects with, and whose challenges he best understands.
“There is this misconception that we are entitled, that we don’t care about family or a financial future, and that we are somehow less responsible than our parents – but that couldn’t be farther from the truth,” says Tey. He points out that taking care of the future is very much a priority for his clients, but that managing student loans, credit card debt, cash flow, and making big career and life decisions present more imminent concerns.
“My clients are grappling with taking on bigger jobs, making decisions about getting married, having kids, buying a home,” says Tey. “I know that eventually we will get around to talking about retirement, investing and insurance, but first, we have to address the critical issues at hand.” Tey’s approach is to work closely with his clients to parse through all the information, and weigh the financial consequences of their decisions. He sees his role as empowering clients to become informed decision-makers, rather than “telling them what to do.”
Tey is particularly excited about the impact the Millennial Strategies Group will have, given the breadth and depth of the resources available at Fortis Lux. “It’s refreshing to go into a financial firm and meet with financial advisors who are both knowledgeable professionals and members of your peer group.”
Outside of work, Tey unwinds by spending time with his wife and their two daughters. He attended Stuyvesant High and Carnegie Mellon University, and currently resides in Long Island City.