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Managing the Tax Affairs of the Top Sports & Media Stars

Peter Fairchild on the BD Academy Accounting Influencers podcast with Rob Brown
Peter Fairchild on the BD Academy Accounting Influencers podcast with Rob Brown

Peter Fairchild

Peter Fairchild is Tax Partner at Smith & Williamson and Head of Sport, Media and Entertainment. He has over 20 years’ experience providing UK tax advice, and currently works with individual sportspeople and sports clubs to advise on structuring salary, benefits and image rights payments. A passionate communicator and tax expert, Peter gives a flavour of what it’s like looking after high net worth individuals from an advisor’s perspective. Shownotes:

  • How a promising career earning millions as a pro footballer turned into becoming a tax accountant
  • A new meaning of ‘big brother’ an accountant providing lifestyle advice to clients
  • Great examples of what ‘trusted advisor’ really means – nothing to do with accounting
  • How accounting clients with more money can often make worse investment choices, especially without the right advisors around them
  • The best accountants are a conduit for a lot more services than they alone can provide
  • The 3 advisors that wealthy people require are tax, IFA and wealth management
  • How the role of an accountants has changed over the years
  • Why it’s always best for accountants to visit your clients at home if possible
  • What truly separates the good accounting firms from the great ones
  • The beauty of a regular meeting with your client where the agenda is a blank piece of paper
  • The power of FOMO hits high net worth sports people and performers as much as us mere mortals
  • Does your firm offer a program of financial education for your clients like Smith & Williamson do?
  • The link between wealth and financial health amongst some high level sportspeople
  • The challenges of retirement and being ‘out of the spotlight’ for high level performers – the pressure of ‘what next?’
  • Why film stars and pop stars are exactly the same as sports stars in how they need managing
  • The true secrets of how to become successful in a niche – immerse yourself in their world
  • The importance of having your firm and a team behind you if you want to develop a strong accounting niche
  • What the legacy might look like of a 20-30 year career managing the tax and personal affairs of top sports stars

The best #accounting advisors are a conduit for a lot more services than they alone can provide.
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Peter Fairchild on the BD Academy Accounting Influencers podcast with Rob Brown

 


In his spare time Peter supports Manchester United Football Club and England’s Rugby Union team. He is a keen Formula 1 fan too. Find out more at Smith & Williamson and @smithwilliamson on twitter or to contact Peter directly: Peter on LinkedIn or email him>>