Company Profiles

EXCLUSIVE INTERVIEW: Transatlantic Firm Helps Sporting Clients Score Their Wealth Goals

Tom Burroughes, Group Editor, 23 November 2012

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Adam Osper, head of sports and media at London & Capital, the international wealth management firm, explaining what he and his colleagues do, especially in the sports world.

The wealth management industry
has special client segments as a way to draw in new business and stand out from
the pack. The financial needs of sportsmen and women, as well as those who work
in the media and entertainment business, are catered for in some cases by firms
setting up client teams solely focused on such people. This publication
recently spoke to London & Capital, a UK-headquartered firm with total client assets of $3.7 billion which does a lot of business with American citizens concerning cross-border issues such as compliance with the FATCA Act. Here is Adam Osper, head of sports and media at
the company, explaining what he and his colleagues do.

Tell us a bit about
your background. What did you do before you joined London & Capital? When
did you join L&C?

I am a Chartered and Certified Financial Planner and
previously worked for a small IFA firm, looking after sports professionals and high
net worth clients.

I’ve been in the industry for 13 years now and joined London
& Capital in 2010 for the opportunity to head up the sports and media arm
of the firm’s multi-faceted business. London & Capital does things on a
much larger scale, have a long history of working with sports and media
clients, and a good reputation. Historically this is a sector in which many
have received a raft of bad advice. We all felt this was an area where clients
needed to be looked after more professionally.

What is your
connection to sport?

I have always enjoyed sports, so when the opportunity came
five years ago to work in the industry, I took it on with pleasure.

What, in the main,
does your job entail?

It is my responsibility to ensure our clients build up
sufficient wealth to be financially secure and independent when they stop
competing or their career in the world of entertainment comes to an end.  As a principle, we like to keep things as
simple as possible.

Who works with you in
this team? Who are they? Do any of them have specific sports connections?

At London & Capital my running mate is Sam Sloma, an
ex-professional footballer.  Sam has
recently qualified to give advice, and has made a significant contribution in
growing our presence in the world of football. 
He has a lot of friends and contacts in football, both on and off the
field.

When was the sports
group established and why?

London & Capital has worked with sportsmen and women
since its inception in 1986, when the firm’s focus was on football. Daniel
Freedman, our managing director, knows a lot of the agents from “back in the
day”. Then the company expanded to become the wealth management firm it is
today. The firm has always had sports and media clients. I joined in April 2010
to re-establish the firm’s presence in sport. One of the main reasons for the
firm’s re-entry was that after the credit crunch it became abundantly apparent
that many sports and media stars had been sold racy investment schemes, strange
foreign property developments and the like - and had been badly burnt. This,
coupled with the Retail Distribution Review and the trend for IFAs to outsource
their investment management, made us decide to focus on this area.

(The RDR is a package of reforms in the UK designed to improve the quality of financial advice and stamp out commission payments.)

How does the sports
and media team work with the rest of the firm? How do you prospect for clients?
How do they hear about you?

Our business is very different to the other areas, but we
fully employ the great resource we have available to us at the company, our
superb investment desk for example. Our global presence really helps too. As a
result of one of our specialisms, working with US resident non-doms and Green
Card holders – something London & Capital has been doing for more than 20
years - we are well placed to work with American sports stars.  We have many people in the company who are
multi-lingual, which is a real benefit given the number of foreign footballers
we have playing in the UK.

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