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Assembling an advisory team: long-term wealth management for entertainment industry professionals

Here is a breakdown of the professional advisers that high profile individuals in sports, media and entertainment should curate to set themselves up for sustained wealth. 

Careers in sports, entertainment, and the arts can be financially rewarding and fulfilling, but they also come with a unique set of challenges that individuals must navigate to thrive in their chosen field.

Careers in these fields face relentless competition, potential rejection, and pressure to perform, all while navigating public scrutiny, industry politics, and the demands of maintaining work-life balance.

Between all these commitments and considerations, it can be difficult to find the time and capacity to manage your wealth adequately. This is why establishing a trustworthy and effective entourage of financial and legal experts becomes crucial to securing long-term financial security and growth.

Here is a breakdown of the financial and legal professionals who can help you navigate the financial risks associated with a sports or creative profession, while growing your wealth along the way.

Industry specialism

When assembling an expert legal and financial entourage, it is crucial to find professionals who fully understand how celebrity wealth planning differs from that of other high-net-worth individuals.

Unlike wealthy businesspeople and entrepreneurs who generate wealth primarily through equity, actors make most of their money through income. This is particularly important to note when assembling an expert entourage, as financial and legal experts with experience in this high income-derived wealth will better understand how to manage it – not least from a financial growth perspective, but also regarding taxation, which can be significant for high-income earners.


Accountants and tax solicitors

Because the income from film and television can be so significant, actors can be subject to heavy income taxation. This means having the right team to manage this is vital.

There may also be differences in taxation depending on the jurisdiction you work in. For instance, actors they may be on location anywhere in the world. So, it is important to work with accountants that know and have knowledge of the work in the relevant tax jurisdictions.

When it comes to tax, there are two types of advisers you need to consult:

  • an accountant who can suggest appropriate measures to reduce your tax liability and ensure that you are paying the correct amount of tax for things like royalties and salary.
  • a taxation solicitor, who will be able to ensure that any tax reduction measures are executed lawfully and in a way that will not jeopardise your reputation. 


Legal representation

The expertise, guidance, and advocacy provided by entertainment and sports lawyers can be crucial for celebrities in protecting your legal rights, advancing your careers, and navigating the complex landscape of the entertainment and sports industries.

These legal professionals specialise in the unique legal issues and contracts prevalent in these industries, including contract negotiations and reviews, intellectual property protection, licensing, and endorsements, personal branding, and reputation management as well as compliance with relevant laws, regulations, and industry standards.


Wealth management experts 

Income from film and television has been likened to a tap, flowing when actors have work and stopping when they are not working. The nature of the industry means it can be challenging to ascertain when – or if – the tap will turn on next. Because of this, managing risk effectively is vital to securing wealth over time. 

This is where financial advisers can be beneficial. They provide the expertise to support you to budget, invest, and protect wealth – no matter the flow of income.

Wealth management experts will be more helpful for established successful actors who have built significant cash savings and a pipeline of future work. Wealth managers can advise how an actor's wealth should be allocated and how to leverage income to maximise long-term wealth and financial security.

Bhavick Patel, private banker to sports and entertainment clients:

“At Arbuthnot Latham we pride ourselves on fostering a sense of community and collaboration with our clients, embodying the ethos of a 'club' where if we can’t help, we will know someone who can. With long standing connections across the advisory world – including lawyers, accountants, and tax advisers – our ‘circle of trust’ philosophy underscores our commitment to not only manage your financial affairs but also ensure that you can focus on what matters most to you, be it your career or creative pursuits.

“While we offer comprehensive financial services, we recognise and respect existing advisory relationships, and we can seamlessly integrate with your existing teams to provide added value and a fresh perspective when needed. At our core, we are dedicated to facilitating your success and peace of mind, both now and in the future.”

Bhavick Patel

Business managers and agents

In this profession, your personal brand can generate significant value. Appointing a business manager or talent agent will help leverage this personal brand to create value, such as arranging endorsement deals, speaking engagements, guiding, and advising actors on the best associations or partnerships to support and enhance your brand value.


Assembling a trustworthy financial team 

The most important consideration for any celebrity when assembling an expert ‘entourage’ is to ensure every team member is trustworthy and reputable. Finding honest, transparent, and dependable advisers is key. At Arbuthnot Latham, we refer to this network as your ‘circle of trust.’ It is about having the right team of experts around you, all working to a common goal – leaving you free to concentrate on your career and your passions.

Talk to our Media Team at Arbuthnot Latham to discover how we could help you manage, protect, and grow your wealth.


Contact us

Further reading



Sports, Media & Entertainment 

We take the time to understand your circumstances, your ambitions and your short and longer-term goals. This allows us to develop and provide innovative solutions tailored to your needs. We delight in serving clients from all backgrounds and can help fashion introductions from our extensive network in this field.


Journey to the top: Choosing a bank as your profile and wealth grows 

Receiving your first big salary is a significant milestone. Read our guide to choosing a high net worth bank as your profile and wealth grows.


Wealth management for professional athletes: when to start building a financial safety net 

When should a professional athlete start building a financial safety net? See what our experts say about financial planning for elite athletes looking for a more secure future.

Becoming a client

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