Intrepid Woman: Kimberly Foss, President & Founder, Empyrion Wealth Management

By Melissa J. Anderson (New York City)

“At 11 years old, I realized I wanted to be in money management,” said Kimberly Foss, Founder and President of Empyrion Wealth Management. “I was the youngest of six kids and all I had were hand-me-downs. I wanted Jordache Jeans so bad,” she recalled with a laugh. “I was hooked on the capitalism thing.”

Foss went on to study business at California State University at Chico and joined Merrill Lynch. After a few years, she says, she was ready to strike out on her own. “I left Merrill at 25 and started my own practice in capital markets with the philosophy to really do right by people. It was either sink or swim.”

“And 25 years later, I still have a business, so I must be doing something right.”

After growing her business and finding success in the financial markets, Foss is committed to helping empower all women to take control of their own money management.

Creating Success

Foss says her philosophy on money is not about greed, but about doing good. “Have you heard the saying, ‘Money is like manure; pile it up and it stinks, but spread it around and you can do a lot of good’? I try to teach clients how the capital markets can work for them, so they can have that tool in their life.”

Among her proudest achievements, Foss counts a successful note she made during the recent financial crisis. “In 2008, I was lucky enough to structure a Morgan Stanley note that yielded 13.5%, then restructure it ending at 10%.”

“It was in the heat of the crisis in November of 2008, and Morgan Stanley learned that if they came to me, I could provide capital. It was a bridge loan to get them over to when TARP money came in,” she continued. “And it gave my clients an income stream. I structured it for three years and it has provided income so that the equity markets side of the portfolio could come back, and they never had to dip into their capital. And 10% in today’s market is insane!”

“By far, it’s one of my most prized crisis management investment creations,” she added.

Foss said this success gave her confidence she wishes she had developed earlier. “There are events and times that build our character, like 2008. Now I know my worth and what I bring to my clients – before I might have questioned that. I wish I would have had that confidence earlier in my career.”

“That said,” she added, “I’m not sure if there’s anything that I could benefit from today that wouldn’t have changed the course of who I am.”

Views on Money

Foss believes the money management industry will soon be shifting its focus to women in a big way. “There was a big gap in the past. Going forward it’s going to be filled with women coming into more control of wealth management.”

She continued, “It’s very powerful and empowering for women, who, typically, were not as well educated in the financial arena in the past. And this evolution could change the landscape of how investments are made and how the industry operates.”

Foss says her most exciting project currently is her new book, which will discuss the “sexy side of money.” She explained, “It talks about my upbringing and my philosophy of money, and envelops five actual client profiles – and follows what happened to them in 2008.”

She continued, “That dovetails into my five-step process for managing money. Then the book gives directions for navigating the future and how to maintain hope and optimism in volatile markets.”

The book is scheduled to launch early next year. “It’s my first one, and it’s hard but a lot of fun too. I see things now about why I have certain attitudes toward money. The things we experience as youngsters really change how we view money throughout our lives.”

She also pointed out that conflicting attitudes toward money and divorce go hand-in-hand. “It’s important to know that up front,” she said with a laugh.

Women in the Investment Industry

“There are less challenges today than there were when I started in the industry 30 years ago. Finance is still predominantly male, but with Generation X and Y, there are more and more women in the industry than ever before, which is a good thing,” Foss said.

She also suggested that an increase in children being raised by single mothers over the past few decades may influence how men see women at work. “Now there have been more divorces and more single women raising males. I think that means males have a more open attitude toward working for and with women.”

Women also have another advantage, she said. “There are great opportunities for women because women possess something men tend to struggle at. Women are more in tune with body language – with what people are really saying. So use that. Don’t be afraid to be a woman.”

She continued, “It’s okay to take advantage of your femininity. Women still today have to work twice as hard to do double the work with double the effort. But owning that femininity will open doors that would never be open for men. Being feminine and a great wealth advisor and being credible is definitely possible.”

She advised senior women to continue blazing the trail for younger generations. “Have that confidence and own your work as an individual. Try not to apologize because you are successful and a woman. Many people are intimidated by beautiful and successful women, but there’s a way you can be humble and own your power.”

She added, “We’ve seen where arrogance can lead to – people get in their own way when they become successful. We need to genuinely support each other – there’s no need to be critical or cut each other down. We need to support each other.”

Foss says she actively supports women in her own business as well as by hosting mini-cash flow and investment seminars. “I want to enlighten women not to be afraid of the stock market.”

In Her Personal Time

Foss and her husband have four kids between the ages of seven and 20. “Family is number one to me. In the end, I think the most important thing we can do as a parent is be a parent first and understand it’s a full time job. I think it takes a unique person to do both well.”

She also encouraged women to stay healthy. “If I didn’t take care of myself every day, things would go astray. Women need to take care of themselves physiologically.”

As far as philanthropy goes, after her youngest son temporarily stopped breathing as an infant, Foss got passionately involved in raising funds and awareness about ALTE (Apparent Life Threatening Event) and SIDS (Sudden Infant Death Syndrome).