FES is hard as hell.
You need to grind on lower levels, there is a part where you can get a lot of homulculi and magic mirrors.
For team set up
Basic rules:
Aegis and Shinjiro are good, since they do high physical damage, and physical attacks dont drain SP.
2 healers per party: Yukari, Mitsuru, or Akihiko
1 damage dealer: Everyone else, If the boss doesn't use electricity go Aegis
Try to choose someone that doesn't have an element you have with your personas
truth be told every boss after sleeping table needs a unique strategy, read a faq for better info
Anything above normal is unforgiving though
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