Asset Management
Towry Teams Up With Sports Agent To Advise Stars
Wealth manager Towry has teamed up with Newcastle-based sports agency Quantum Sport to give upcoming sports stars critical financial advice throughout their careers.
Wealth manager Towry has
teamed up with Newcastle-based sports agency Quantum Sport to
give upcoming sports stars critical financial advice throughout
their careers.
The agreement is one of the first of its kind and could become
the industry norm. Under the partnership Towry will advice the
likes of England cricketer Graham Onions - Quantum Sport's major
player.
Among the squad of Towry advisors is Peter Cormack, himself a
former professional footballer with Newcastle United. The idea is
to provide lifetime financial plans for the stars who can
potentially earn huge sums of money but whose careers are often
over in their early thirties.
“During my time as a professional footballer, I saw first-hand
the consequences for those who did not receive the correct
financial advice, and the impact it had on both their playing
careers and financial future. We look forward to engaging with
many clients from Quantum Sport and providing access to our
exceptional financial planning and wealth management services,”
Cormack said.
The team up could become the industry norm in the future, one
analyst said, as agents have great access to the players but not
always top notch financial advice at their finger tips.
“We are delighted to be working alongside such a leading
financial firm as Towry. One of the key factors in our decision
to form this partnership was Peter’s previous football
experience, as he understands the potential financial problems
for sportspeople who don’t receive the right advice,” said James
Welch, solicitor and registered agent, Quantum Sport.
“The combined experience of the two firms therefore provides an
unparalleled service, and our clients can focus on being
successful in their chosen sport knowing that they are in safe
hands.”
A number of wealth management firms make a point of engaging with sports and entertainment professionals, such as Coutts, which has a specific client segment for such individuals and Investec Specialist Private Bank.
