Many sports and entertainment professionals don’t have the time to think about finances, but proper planning is essential to ensure that they make the most of their money and achieve financial independence later in life. At Tilney we have a team of financial planners and investment experts who specialise in helping these people achieve their goals.
Our financial planners and investment experts work with a number of high-profile sports and entertainment professionals – from football players through to musicians. We understand that people in the public eye:
All of the advice we give is tailored to our clients’ individual circumstances. When it comes to sports and entertainment professionals, we will tailor our advice around each person’s career, taking into account any professional contracts and image rights agreements.
As many people’s careers are their most valuable asset, we can also ensure a suitable level of protection is in place. This can guarantee peace of mind and financial stability for families, even in the event of an illness or injury that may shorten or end a career.
Many people from the sports and entertainment worlds earn a lot of money over a relatively short career, meaning they can be caught out when it comes to retirement. Our specialists can create a financial plan and investment portfolio to help save for retirement and become financially independent later in life.
Our specialists can help with saving for retirement and becoming financially independent in later life.
The plan will take into account current income and contracts, and can be reviewed alongside any pay reviews or bonuses received throughout the career. The plan will also take advantage of annual pension allowances and the generous tax benefits that come with pension contributions.
There have been many cases of high-profile sports or entertainment professionals finding themselves in trouble with HMRC – usually because they have taken bad advice when it comes to tax. This is why it is essential to work with a trustworthy financial planner.
At Tilney our FCA-regulated advisers help clients to manage tax by:
We use sophisticated cashflow modelling software to forecast our clients’ future finances and ensure they are on track to achieve their goals. This can help to answer questions such as “how much do I need to save or invest to maintain my lifestyle?” and “am I going to run out of money in later life?”.Find out more
VCTs, EIS and SEIS should all be regarded as higher risk investments. They are only suitable for UK resident taxpayers who can tolerate higher risk and have a time horizon greater than five years.