Actors on red carpet

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.

If you have a high-profile career in the arts, fashion, sports, or entertainment, receiving your first big contract is an exciting milestone. It is also a time when you typically might start thinking about investing, making your first big purchase, or preserving wealth for future generations.

When choosing a banking partner to help you navigate unique and complex financial needs, a team that understands the nuances of fame-related income, privacy concerns, and tailor-made solutions is key.

It is common to take recommendations from peers and financial advisers within your trusted network, but word of mouth and reputation also play a crucial role in the decision-making process.

Here are some of the benefits an experienced team can offer.

Understanding your world: tailored financial advice

As fame and wealth grows, so will the intricacy of your financial needs, and putting your wealth in the hands of a bank that understands the different milestones of life in the spotlight can make all the difference. 

Tailored advice that accounts for the cyclical nature of media and entertainment earnings is important because irregular income streams and periods of high earnings, followed by potentially quieter times, can make financial planning more complex.

And depending on what industry you work in, a team that understands your specific career cycle and challenges is key – understanding the nuances of managing assets for an athlete versus an entertainer at all stages of their career, for example.


Relationship-led banking: supporting every career phase

Private banking teams often manage clients throughout each phase of their careers, from first contract all the way to retirement. This relationship underpins every decision, from how to manage and protect earnings, to investing, and tax planning.

Initially, the focus might be on how to secure your financial foundations, building and expanding your savings while later, as earning potential increases, your team may discuss diversifying your investments and optimising your pension, for example.

Banks that specialise in managing the banking and financial needs of high-profile clients will take the time to get to know you on a personal level, tailoring advice, and support to suit your short- to long-term goals, as well as provide support as your wealth grows.

Vasila Mehtiyeva, private banker specialising in the entertainment industry:

“Clients, particularly within media, sports and entertainment industry need their banker to be proactive, reliable and have industry knowledge and expertise to understand their unique needs. These skills form the trust which is the foundation of our relationship with each client.”

Vasila Metiyeva

Discretion and privacy: safeguarding your financial affairs

In industries where the spotlight is always on, privacy is a luxury. Private banks cater to those in the public eye who value confidentiality and prioritise the security of their financial affairs to protect against fraud, identity theft, and unwanted public scrutiny.


Tailored solutions: managing non-standard income

Alongside a non-standard income and an irregular work cadence, those in the public eye tend to have a diverse array of income streams – for example, royalties, bonuses, or signing fees. In some instances, payment may be received in foreign currencies, adding an additional layer of complexity to financial management. Some things to consider include:

  • Income variability and structure: Professions such as actors and performing artists can have highly unpredictable income streams, depending on the number and type of projects they work on. Sports stars may have more structured income from contracts with teams or endorsements, but these can also vary based on performance, injuries, and career longevity, whereas models often deal with irregular income based on ad campaigns, catwalks, and endorsements, with significant fluctuations in earnings over time.
  • Career longevity and peak earning periods: The peak earning period for sports stars is often shorter due to the physical demands of their profession, necessitating early and aggressive financial planning for life after playing. Actors and models might have longer careers but face different types of volatility and pressure.


Exclusivity: accessing personalised services

Exclusivity is not just about prestige; but the ability to access a suite of services tailored specifically to your needs, ensuring privacy, personalised attention and a clear understanding of your financial lifestyle and requirements.

At Arbuthnot Latham, our team of bankers specialising in sports, media and entertainment, can offer expert guidance banking, saving, financial planning, and investing – tailored specifically to support celebrities in managing, protecting and growing their wealth.


Connections: building your professional team

We can also connect you with our network of specialist professional advisers – from entertainment and sports lawyers to tax accountants and business managers and agents. We can help you build the right team of professional experts –  all working to a common goal. Leaving you free to concentrate on your career and your passions.


How we can help

At Arbuthnot Latham, our private bankers work with an array of talent in the creative arts, sports, media and entertainment professions and recognise the broad range of financial needs that result from a successful career. We are experienced in advising and supporting sports professionals throughout the stages of their career from starting out, to follow-on careers and into retirement. Get in touch with our team.


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.


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.


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.

Becoming a client

Take control of your finances today by completing our enquiry form. Alternatively, you can call us on the number below and one of our team will be more than happy to talk about your future.

+44 (0)20 7012 2500

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Related services

Wealth Management  •  Wealth Planning  •  Borrowing  •  Private Banking


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