Managing the Tax Affairs of the Top Sports & Media Stars - Accounting Voices Podcast

Episode 50

Managing the Tax Affairs of the Top Sports & Media Stars

Published on: 16th May, 2019

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 Liked your Accounting Influencers Interview with Rob Brown" target="_blank">email him>>

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About the Podcast

Accounting Voices Podcast
Accounting Voices helps people in the accounting world stay relevant visible and vocal. Host Rob Brown interprets trends reshaping the profession and gives listeners insight to build authority influence and a stronger voice in firms and markets.
Accounting Voices, hosted by Rob Brown, helps decision makers and leaders in accounting and finance stay relevant, visible and vocal in a profession being reshaped by technology, private equity, regulation and shifting client expectations. Each episode interprets the trends disrupting accounting and finance such as AI, automation, M&A, talent and the move to advisory and translates them into practical insight that strengthens authority and influence.
Accounting Voices is also a platform for the wider ecosystem of networks, associations, educators, consultants, software vendors and technology experts who serve accountants and finance professionals worldwide. It extends into regular Accounting Voices networking sessions that connect this audience and amplify ideas that move the profession forward. With its international reach and long shelf life the show delivers credibility and commercial value for listeners and sponsors alike. Search for "Accounting Voices" on YouTube for all episodes and connect with Rob Brown on LinkedIn to find out more: https://www.linkedin.com/in/therobbrown

About your host

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Rob Brown

ob Brown is the creator and host of the Accounting Voices Network, a media platform that includes the flagship solo podcast Accounting Voices and the panel shows Accounting M&A and Accounting Tech. He chairs conferences, panels and virtual events worldwide and is recognised as a leading advocate for the accounting profession.

He is an accomplished speaker and authority on trust, reputation, employer brand, talent, succession, executive presence and the forces shaping the future of accounting. Rob is the author of the bestselling book Build Your Reputation (Wiley) and his TEDx talk The Personal Brand of You has been viewed more than 400,000 times.

A former co-founder of the Accounting Influencers Roundtable, Rob now focuses on amplifying the voices of leaders, firms, networks, vendors and influencers across the global accounting ecosystem.

Outside of work he is a stroke survivor, lives with epilepsy, holds a black belt in kickboxing and is based in Nottingham, UK. He plays chess and backgammon, loves orange chocolate and is allergic to grapefruit.