Propositions and charging structures aside, long-term relationships based on trust are at the heart of every successful adviser-client relationship, and whilst client confidentiality remains a constant for all, it’s paramount for those in the public eye. Beyond the financials, the softer facts can be just as important, and as you may expect from a public figure, there can sometimes be a healthy degree of reserve when it comes to discussing their personal and family affairs, so high professional standards and discretion are of utmost importance.

Having worked with a number of high profile individuals for many years, a product of well-established professional relationships in the media and entertainment sector, this experience has afforded a better understanding of the nuances involved in dealing with clients in the limelight. Often globally mobile with extended periods of unavailability, irregular earning patterns, complex company structures, calls out of hours to list but a few. But as it happens, beyond the glitz, glamour and sometimes hectic lifestyles, these are normal people facing similar financial challenges to us all who really value reliable and sound financial planning as opposed to an exotic tax scheme that might land them on the front pages.

Attracting media focus may result in their financial dealings coming under scrutiny and so it’s vital their affairs are held fit and proper and underlying investment holdings are not at odds with their public image. This may involve specialist investment considerations or exclusions so having an advice and investment framework to support that is key.

Careers can be high earning, but longevity is not necessarily guaranteed so making provision for the future is important. Appropriate protection arrangements tailored to their specific circumstances, navigating the everchanging tax landscape and maximising planning opportunities along the way is central to building financial security and supporting the lifestyle they want to lead, and as they approach the twilight of their career, focus may turn to effective estate planning and Inheritance mitigation strategies to secure wealth transfer for future generations.

They will often have a multitude of professional service requirements as a result of their activities and you tend to find there are certain accountancy and legal practices that cater for clients of this nature also. Personally, I’m an advocate of the collaborative approach, working closely with the other professional practices where appropriate, creating what I like to call the ‘professional triangle’ solution between legal, accountancy and financial planning services. In my experience this approach works best and gives the client peace of mind that there’s some joined up thinking going on and a reliable team of professionals covering all the bases.

As is often the case, one good job leads to another and as clients of this nature tend move in certain social circles, it’s not uncommon that one will refer another if they’ve had a good experience. Over the years this has led to an accumulation of high profiles individuals within the client bank, supported by effective working partnerships with other professionals in industry, leading to mutual success and high quality client outcomes.

Contact us on 0330 320 9280, email info@cravenstreetwealth.com or complete our online enquiry form to discuss your own personal circumstances.

The content of this article is for information only and does not constitute formal financial advice. This material is for general information only and does not constitute investment, tax, legal or other forms of advice.

 You should not rely on this information to make, or refrain from making any decisions. Always obtain independent, professional advice for your own particular situation.

Craven Street Financial Planning Limited is authorised and regulated by the Financial Conduct Authority (FCA). The FCA does not regulate tax advice.