Your new financial guru
One day in 1994, while recovering from a ruptured pancreas, Guns `N Roses bassist Duff McKagan was puttering around his basement when he happened upon GnR`s financials from the previous six years. Flipping through the reports he had a bit of a terror attack when he realized, "I couldn`t make sense of it.
I didn`t know how often we had made or lost on the tour," and got himself into even more of a fuss when he though about admitting to someone, "I don`t recognize what the fuck I`m doing."So he decided to have some finance classes at Santa Monica Community College and while fronting his new band, Velvet Revolver, started giving financial advice on the side.
_word started spreading that he knew something about managing money. He began getting regular calls from musician friends with questions about everything from whether to buy a sign to where they should put their money.
It was about that time that McKagan realized a coupla things. 1) That he was fairly well at this money management stuff and 2) fellow musicians were comfortable being counseled by him because he didn`t "wear a case" and therefore wasn`t representative of The Man. And that`s when a lightbulb went off.
He would team up with somebody who had a small bit but not much more financial wisdom to give but who wouldn`t scare off anti-Establishment rockstars with his fancy degrees and experience in the industry because Duff would be there to distinguish them the guy was cool. McKagan found him in former banker Andy Bottomsley. Together the two will launch Meridian Rock, which will "educate rockers about their finances instead of pandering or lying to them," and leave be direct with colleagues re: whether or not they`re completely broke. The house is actively seeking money managers in Europe and the US. Here`s what will be expected of you.
McKagan says Meridian Rock`s advisors will speak straight to the talent, in field and simple terms. The company`s three tenets, he notes, are righteousness (i.e. not screwing people over), transparency, and education.
No discussion on comp but it seems as though you could easily form in some guarantees for a few groupies at year`s end.
Duff McKagen Launches Wealth Management Firm [Fortune]
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