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Meet the Team

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Steven Foldes

Steven Foldes, CFP™, J.D., CMFC is the President of Foldes Financial Management, LLC which manages assets valued at over $350 million for approximately 250 clients. He is a fee-only investment advisor.  Mr. Foldes specializes in portfolio construction by developing and implementing asset allocation plans for larger pools of assets for individuals, pension plans, trusts, and institutions.

Mr. Foldes received his Bachelor’s Degree, cum laude, from Tufts University, Medford, Massachusetts, and his Law Degree from Tulane University, New Orleans, Louisiana.  He also studied at the University of Madrid, Madrid Spain, University of Mexico, Mexico City, Mexico and Societa Dante Alighieri, Rome, Italy.  He is a member of the Florida and Pennsylvania Bar Associations.  He completed his CFP™ (Certified Financial Planner) course work from the College for Financial Planning, Denver, Colorado and received his CFP designation from the Certified Financial Planner Board of Standards.  He received his CMFC (Chartered Mutual Fund Counselor) designation from the National Endowment for Financial Education.

After playing the satellite tennis circuit and completing his military service as an officer in the Army National Guard, Mr. Foldes practiced law for three years in the criminal area in Harrisburg, PA and then the sports management field with International Management Group (IMG) in Cleveland, OH. In 1978, Mr. Foldes co-founded Fun Footwear Company.  As President, Mr. Foldes led the company from $1 million in sales and 50 employees in 1979 to $20 million and 750 employees in 1984.  Fun Footwear pioneered the all-plastic sandal category (“Jellies”) in the United States and came to be known as the worldwide leader in product development and innovative marketing techniques.  Mr. Foldes sold his company in 1985.  From 1986 until 1991, he was a consultant to the footwear industry working with firms from Japan, Costa Rica, Guatemala, El Salvador, and Mexico as well as the United States.  In 1991 Mr. Foldes began his career as a fee-only investment advisor and became associated with the firm of Evensky & Brown. In 1996 he became a partner in the firm of Woolf, Lubitz and Foldes which ultimately became Foldes Financial Management, LLC. 

He is a frequent lecturer on investment topics and has appeared on PBS and Cable television. He is a member of the Financial Planning Association and the American Association of Individual Investors. He is chairman of the Investment Committee of the Dave & Mary Alper Jewish Community Center and served as President and Treasurer of that organization. He is also a board member of the Greater Miami Jewish Federation and a former executive board member of Temple Beth Am. He is active in the Israel Tennis Centers, Maccabia USA/Sports for Israel and the Anti Defamation League. Since June 2006 he has served as the chairman of the Greater Miami Jewish Federation’s Investment Committee which manages the $160,000,000 endowment of the Greater Miami Jewish Federation.

One other noteworthy accomplishment in the philanthropic area is that Mr. Foldes pioneered the idea of bringing together all of the Jewish Federations in North America at one time to hold an Investment Institute to present investment topics that can benefit the investment decisions and improve the investment performance of the various Jewish Federations whose investments today total $13 billion. As a result of his efforts and working with the United Jewish Communities (UJC), the umbrella organization of the Federations of North America, the first UJC Investment Institute was held in 2003. Subsequent to 2003, every other year the UJC Investment Institute has been held as one of the important ways that the UJC can assist the various Federations throughout North America. Mr. Foldes continues to co-chair the event and is looking forward to the next one in February 2011.

David W. Austin

David W. Austin, CFP, is a fee-only financial and investment advisor and a Certified Financial Planner licensee, having completed the coursework from the College for Financial Planning in Denver, and received the CFP designation from the Certified Financial Planner Board of Standards in 1984. His areas of specialty include investment portfolio design and management, pre- and post-retirement planning, tax planning, and estate planning.

Mr. Austin is a graduate of the University of New Hampshire and has been active in the financial services industry for 33 years. For over 25 years he has provided comprehensive financial planning and investment advisory services to individuals, trusts, pensions, and charitable organizations. He is a former Vice President of a major, international insurance company, and has conducted over 500 seminars on capital creation and personal financial management throughout the United States.

In 1986, he formed Austin Financial Advisers, Inc., a Registered Investment Advisor, to provide comprehensive financial planning and investment advisory services to a wide variety of individuals, organizations, and qualified retirement plans. In October, 2000, he merged his practice with Foldes Financial Management, LLC as a senior financial advisor.

Mr. Austin is a member of the international Financial Planning Association. As an independent, fee-only financial advisor, he custodies all securities through the Institutional division of Charles Schwab & Company. He has written for various publications including The Miami Herald, Registered Investment Advisor, Financial Services Week, Financial Product News, Mutual Funds Magazine, and Bloomberg’s Wealth Manager. Mr. Austin was a featured speaker on Risk Management at the South Florida Financial Planning Symposium Expo ‘91 in Miami, and an expert panelist on mutual fund investing for the WLRN-TV series “Financial Fitness”. He is a former adjunct faculty member of Nova Southeastern University in Ft. Lauderdale, Florida, and the National Center for Financial Services Training in New York, New York, having taught the Certified Financial Planner Certificate Program for both institutions.

Michael D. Hoeflinger

Michael D. Hoeflinger is a fee-only investment advisor. Mr. Hoeflinger researches investment opportunities and specializes in portfolio construction by developing and implementing diversified asset allocated portfolios for individuals, retirement plans, trusts and institutions.

Mr. Hoeflinger is a graduate of Florida International University where he received his Bachelor of Business Administration Degree. He later went on to receive his NASD General Securities License (Series 7), NASD General Securities Principal License (Series 24), NASD Uniform Securities General State Law License (Series 63), Registered Investment Advisor (Series 65) and began his career in the financial industry in 1994. Focusing primarily on retirement plans, Mr. Hoeflinger completed the ASPA C-1, Administrative and Qualification Issues of Retirement Plans.

Mr. Hoeflinger joined Foldes Financial Management, LLC in February 2008 as a Senior Financial Advisor. He is bilingual, English/Spanish, which allows him to provide his services to International clients as well. He has conducted various seminars on investments and has been quoted in publications including Registered Investment Advisor and CFO Magazine.

Mr. Hoeflinger resides in Biscayne Park, Fl and enjoys spending time with family and friends, traveling and boating.

Nyika Pyfrom

Nyika Z. Pyfrom, Registered Paraplanner, has been with Foldes Financial Management LLC since December, 1997 and is currently the Director of Operations. She is in charge of all client quarterly performance reporting, fee billing, training and staff supervision.

She manages all corporate accounting and maintains the client database, and is the chief liaison for all communications with clients and service providers. Nyika assists with trading, reconciliation of accounts and handles all home office reporting.

Prior to joining the firm, Nyika held management positions in the retail industry while attending Florida International University. She completed the coursework for the Registered Paraplanner in 2002 with the College for Financial Planning in Denver, CO and completed her Nursing Degree in 2007.

Nyika resides in Miami with her husband Kevin and her two children, and enjoys cooking, singing and photography.

Katherine Sojo

Katherine Sojo has been with Foldes Financial Management LLC since March, 2006 and is currently an Executive Assistant. Her areas of specialty include account reconciliation, assisting with quarterly reporting and billing, client service functions and communication with service providers.

Katherine is currently attending Florida International University, pursuing a bachelor’s degree in Economics and International Business. Katherine resides in Miami and enjoys boating, dancing and reading.

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