US-based financial planning firm Fortis Lux Financial has established a new division to exclusively cater to sports and entertainment professionals.
The new division will focus on helping athletes, musicians, actors, directors, producers, songwriters, owners, coaches, and executives to manage their wealth.
It will provide financial planning and management strategies to ‘high-achieving’ individuals and enable them to collaborate with professional advisors, agents, and player managers.
The company noted that the division will accommodate its clients intense demands of work, travel, and scheduling restraints by extending non-traditional business hours across multiple time zones.
Fortis Lux has appointed Reginald Canal and Gregory Domond as co-leaders of its Sports & Entertainment Division.
Commenting on the development, Canal said: “We are excited to launch this new division, which will enable us to provide comprehensive strategic solutions for high net-worth individuals.
“We’re committed to helping individuals in the sports, music, and entertainment industries make informed decisions about their finances.”
Domond added: “Here, we are focused on developing financial strategies to help our clients maximize their unique profession.
“Whether NBA or NFL, we run the proper financial game plans for our clients and their loved ones to help them reach their goals.”
In June this year, the asset and wealth management division of JPMorgan Chase & Co acquired a stake in the sports-focused data analytics firm Kraft Analytics Group.
The move was seen as JPMorgan’s strategy to better serve its wealthiest clients by leveraging data coming in from ticketing sales and legal sports betting.
In April, Succession Wealth launched Succession Sports & Entertainment, a specialist wealth planning advice arm for sports and entertainment professionals.