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First step: “I try to be self-critical and so that I am first being honest with myself.
That gives me a firm foundation for dealing with my clients and their business.” Founder and Managing Partner, Fulton Management Fulton clients include rising digital talent (You Tube stars Jenna Marbles, and Rhett and Link) and a growing roster of music acts (Hall & Oates, Colbie Caillat), alongside a core of film and TV stars such as Channing Tatum, Colin Farrell, and Liam and Chris Hemsworth, as well as athletes like UFC champion Conor Mc Gregor.
“I show them their spending, then we examine what part of their spending makes them happy.
They’re probably spending money on things that don’t provide them a lot of joy.
Business managers have to “make sure they don’t fall into the pitfall of making bad investments at the suggestions of friends and family,” he adds.
At the same time, those shopping for business managers have become more cautious after hearing of recent financial scandals.
Partner, Savitsky, Satin & Bacon Bacon fondly remembers an era when loans could be approved over the phone with a bank relationship officer. Regulations that piled up over the years provide more safety, but it’s “onerous to the point that clients complain why things take so long,” he says.
“It borders on overkill.” Bacon also finds that banks shy away from dealing with certain offshore entities because of growing red tape.
” “Change your phone number, change your kids’ phone numbers, don’t do anything for six months,” says Bell, who has a client who won 0 million from the New York state Lottery.
A former Minor League Baseball player in the Cleveland Indians organization, Brown works with Hollywood entertainers and athletes.
Strange request: “I had a client who believed that Fanta in Canada had less sugar than Fanta in the U. So I helped the client get cases of Fanta from Canada delivered.” Partner, Savitsky, Satin & Bacon Because pro basketball and baseball players get big signing bonuses, Bucci says that they face important financial decisions very early in their careers.
“Over time, you give more detail to clients as they become more engaged,” he says.
Client profiles can change too, such as talent coming off high-paying TV series who need to prepare for life without a fat regular paycheck.