MUMBAI: RoyFi, the industry’s leading artist-first financing company, believes that advances are just the beginning of the support services that up-and-coming independent artists need. In a continued effort to promote financial literacy, RoyFi is partnering with Independence Wealth Managers (IWM) to release a series of sessions about everything artists need to know to protect and stretch their money.
Kicking off with “Budgeting 101” in December, each free session will tackle a new element of financial planning and literacy in an easy and approachable way. The programming will also feature insights from a range of industry professionals–distributors, content creators, labels, CPAs, attorneys, financial planners, and more.
“The majority of artists haven’t been taught the basics of financial planning. RoyFi is pleased to work with IWM, a team that shares our values of transparency and integrity, to teach artists how to leverage what they have now and make their paychecks last through their career,” says Peter Harvey, Co-Founder and CEO of RoyFi.
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Partnerships with other artist-friendly finance and tech companies have proven critical to RoyFi’s mission to extend the artist’s dollar as far as possible–forming an ecosystem of support for the creative community. Through these alliances, RoyFi has broadened access to vital services and education to amplify artists’ chances at a sustainable career.
Over the years, members of the IWM team have worked with many artists and professional athletes–two groups that share a lot of similarities. The inconsistent and unpredictable nature of income from each nontraditional career has contributed to a historical mismanagement of finances. Just as an NFL player should save 60-80% of their income in case of injury in next week’s game, an artist never knows which of their songs will be the next hit that brings home the big check.
“In order to build long-lasting careers, artists need to be able to make the right financial calls, but until now there hasn’t been a playbook,” explains Celines Barrington of Independence Wealth Managers – IWM. “We’re honored to partner with RoyFi to guide and empower creatives to be their own business executives–teaching them how to stretch what they have now by saving, investing, and spending smartly.”
