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This week we have a catch up with James Greenly, Chartered Financial Planner at Capital Asset Management.

Firstly, please tell us a little bit about who you are, what you do at Capital Asset Management and how you work with music managers.

Most music managers and their artists struggle to connect their present and potential income to the number they will need to lead the financial future they imagine.

My mission is to help every manager and artist make that connection, building a visual, personal, financial plan.

As De La Soul correctly stated ‘three is the magic number’, so I deliver what you need in three simple (but essential) steps:

1. I build you a personal financial plan.

2. I then help you save and invest your money as tax efficiently as possible so that you hit that plan.

3. I then guide you every step of the way, helping you steer clear of taking potentially plan-busting financial decisions.

What new music releases are you enjoying currently?

It is not really ‘new’, but one of my favourite artists RY X recently released his ‘Live from the Royal Albert Hall’ album. This was a concert he did with the London Contemporary Orchestra back at the end of 2019. It was the last pre-COVID concert I went too, and something about hearing that album just takes me back to that night. It was magic. Let’s hope 2021 brings some normality and live music returns once again.

How has business been for you since the COVID-19 pandemic hit last year?  Any significant challenges?  How are you are adapting your services?

At times of great financial stress, we see demand for our services rise – this is because personal finance suddenly becomes very present in people’s minds.

We are a business that had embraced online technology for client meetings pre-pandemic, however, there is no doubt that operating a people and relationship business full time in an online environment is a real challenge –  I look after a number of music managers and artists and I know that they are looking forward to finally meeting in person for the lunch and a beer I promised them!

At what stage should artists and managers start thinking about designing financial plans and investment portfolios?

The sooner the better. As soon as you are earning you should be thinking about how to make your money work for you.

Having a financial plan in place will allow you to focus your energy and attention on your music. Your income is likely to be less predictable than those doing a stable 9-5 office job, therefore knowing how much you should be setting aside is crucial.

Your music career may have a shorter lifespan than other career paths, therefore ensuring you are making plans to ‘pay your future self’ will be one of the best decisions you ever make.

Do you think there are any positive opportunities or changes in the music industry you believe we will see happen “once we’re though the other side of all this” (Covid)? 

I hope the other side’ comes sooner rather than later! I hope that once we have some semblance of normality back, people never take our relative freedom for granted. I know I for one will going to as many live gigs as possible and supporting those up-and-coming artists that will have been hardest hit by the cancellation of all live music throughout 2020.

Is there anything you would like to say to managers who are considering working with you at Capital Asset Management or finding out more about what you do?

In music terms we are an independent label who are disrupting conventional thinking –

-we do not need you to have a minimum level of wealth to engage with us.

-you can lean on our expertise, free of charge anytime leading up to you becoming a client.

-we charge a fixed monthly subscription fee (think Spotify) rather than the conventional % fees of other planners and wealth managers.

I would love to hear your story over a virtual coffee and share my initial thoughts on how you can take your first steps towards financial freedom.

Book a call: https://bit.ly/3apNN1O

Alternatively, you can drop me an email on james@capital.co.uk.

Thank you James and Capital Asset Management for supporting the MMF and our membership through our Associates programme.