As a seasoned business manager myself, I must say that each of these individuals has an impressive resume and a unique approach to their craft. Michael Ullman’s focus on building personal relationships with his clients reminds me of the importance of understanding each client as more than just a financial entity, but as a person with dreams and aspirations.
They serve roles beyond just financial guidance. As revealed by The Hollywood Reporter, Power Business Managers frequently function as confidants, problem solvers, and even counselors for their highly successful, world-renowned clients. Michael Ullman, CEO of Platinum Financial Management, describes this relationship as akin to family, often beginning professional ties with clients like Margot Robbie before they achieve stardom.
The majority of individuals we interviewed for our list, which was put together using a combination of research and journalistic investigation to find professionals associated with prominent figures in entertainment, have shared that they’ve been advising their clients on navigating the unexpected financial challenges following the strikes.
According to Michael Karlin, founder of NKSFB, everyone seems to be putting in more effort but not necessarily seeing increased rewards. He and his team are also assisting clients in finding solutions to tricky issues such as purchasing a home amidst high interest rates, and predicting the potential impact of the presidential election on their investments.
Contributed by: Gary Baum, Winston Cho, Lisa de los Reyes, Nicole Fell, Ryan Gajewski, Caitlin Huston, Natalie Jarvey, Pamela McClintock, Lexy Perez, Zoe G. Phillips, Christy Piña, Jeanie Pyun, Beatrice Verhoeven and Brande Victorian
Rob Abramowitz, Catherine Catherine, Craig Manzino, Marc Rosen and Jason Zayon
Not even high-profile individuals such as A-list celebrities, top executives from Fortune 500 companies, or prominent athletes – clients of Armanino – have been immune to the recent challenges. According to Manzino, they are now focusing on long-term financial planning and strategies to minimize risks, in an effort to safeguard their finances for the future. Those who have established cash flow management, emergency funds, and multiple income streams are better equipped to handle uncertainty.
Best way to spend $50,000 “Concierge medicine may be worth the health investment,” says Rosen.
David Altman, Anthony Bonsignore, Steve Pregiato and Frank Selvaggi
The small but prominent company, with locations in New York City and Los Angeles, boasts talent such as Greta Gerwig, Donald Glover, Steve Martin, and Anne Hathaway among its ranks. Bonsignore, now at the helm following Selvaggi’s reduction of involvement in 2020, expresses that each day feels like a dream come true.
“Pregiato advises unemployed individuals to tighten their belt on unnecessary expenses, review their budget and financial situation thoroughly, and maintain a positive outlook,” is one possible way of paraphrasing the original statement in natural and easy-to-read language.
Howard Altman, Corey Barash, Warren Grant, Kim Ibrahim and Zoe Lawrence
It can be quite challenging to persuade these business associates to reveal who among the industry’s leading income generators they are advising. According to Barash, this firm, comprised of Fran Wild and David Jackson, assists their clients – whether in front or behind the camera – in establishing a liquid reserve for at least six months. This is done to prepare them for unforeseen circumstances and provide them with the freedom to accept the most fitting proposals and chances.
Marie Ambrosino
Ambrosino’s client roster features renowned writers and television producers like Mindy Kaling and Seth MacFarlane, who have managed to stay active despite the current reduction in TV investment. For clients facing employment difficulties, she suggests: “Consider an alternative route. What else might they do if not acting or writing?
If I wasn’t a business manager, I’d be “A travel agent for conservation travel.”
Belva Anakwenze
According to Anakwenze, the unpredictable nature of businesses in 2024 highlights the importance of having cash reserves. He suggests his clients, such as Jay Ellis and Kevin Frazier, should broaden their skill sets. Screenwriters are using their talents to create media campaigns, while actors are going back to their roots in commercial work. On a practical level, we assist our clients in cutting costs by negotiating lower interest rates or delaying payments.
Best way to spend $50,000 “Not to spend it, but to invest the money.”
Brett Anderson, Jeff Bacon,Chris Bucci, Rachel Martinez, Martin Meeks, Aaron Philpott, Steve Savitsky and Jeremy Stahl
The company, known for keeping secrets about the celebrities, athletes, and executives it advises, has been expanding since its rebranding in 2022. Last year, it purchased Philpott Meeks, and it plans to open its first overseas office soon. “This expansion significantly enhances our knowledge base,” says CEO Bucci. “Our clients’ lives are becoming increasingly complex. The more experts we have on board, the better we can cater to their needs comprehensively.
Best way to spend $50,000 “If you must, a luxury safari in Africa,” says Anderson.
Tara Beaudine-Moore, Abner Monegro and Phil Sarna
The company, known for its diverse clientele spanning film, television, music, sports, and fashion industries, is growing by opening a new office in Nashville. Not only does it provide counsel to established artists such as Billie Eilish, Camila Cabello, and Benny Blanco, but Beaudine-Moore expresses great excitement about collaborating with up-and-coming talent like Benson Boone as well.
According to Beaudine-Moore, a sensible approach for spending $50,000 would be to allocate most of it towards savings or investments. This way, you can acquire something extraordinary each year from the passive income generated over time!
Tyson Beem, Enza Cohn, Andrew Crow, Shane Glass, Melissa Morton, Rick Mozenter and Eduardo Pabellón
During his second year as CEO, Beem prioritized the expansion of the company, which has been serving established clients such as Will Smith, Keke Palmer, and Jordan Peele for a long time. In August, Gelfand unveiled plans for a merger with Goldman & Knell, where Piers Morgan is among their clients. Last year, Glass from Colony Business Management also joined the team. According to Beem, when it comes to clients, it’s all about fostering collaboration and assisting them in navigating any opportunities that come their way.
Evan Bell and Liza de Leon
Amidst the uncertainties in the industry, Bell asserts that the saying, “Businesses aren’t guaranteed,” has never been more accurate. He emphasizes that the very first expense to be considered in every budget should be cost-cutting. The firm, comprising Yifan Yang among others, maintains a diverse clientele across Hollywood, ranging from horror director Robert Eggers to investor-turned-influencer Hannah Bronfman.
According to Bell, the most frequently asked question this year is: “Given the current interest rates, can I afford a new house while also letting go of my existing lower-interest mortgage?
Steve Bills, Julie Krimstein, Alec Stoll and Peter Stoll
This Encino-based firm, led by partners Peter Stoll and his son Alec Krimstein, is known for vigilantly guarding the privacy of its clients spanning the entertainment industry. They offer customized advice, ensuring a “well-balanced” approach that caters to each client’s unique circumstances. Moreover, Krimstein brings additional knowledge as a licensed psychotherapist to the table. Regarding the impact of the election on investments, Peter Stoll Senior assures that their long-term planning strategies will remain unaffected and will continue to thrive.
Best way to spend $50,000 “Experiences like traveling with family or friends,” says Peter.
Terry Bird, Douglas Cammarano, Arnie Herrmann, Jean Lee, David Leventhal, Matthew Segreto, Craig Tessler and Jeff Yamashita
As one of the biggest tax and business advisory firms in the U.S., Citrin Cooperman, now celebrating its 45th anniversary, works with a host of Hollywood mavericks, including OG maverick Tom Cruise. Cammarano, Lee and Yamashita are new to the list, joining colleagues who advise James Gunn, Angelina Jolie, Ana de Armas and Guillermo del Toro.
Andrew Blackman and Ron Myers
As a devoted admirer, let me express that these esteemed professionals have an impressive array of projects under their belt, ranging from artistic realms like Bob Fosse and William Goldman’s estate work to the bustling talent pool of Norman Reedus and Brian Cox. While the buzzwords du jour might be AI, streaming consolidation, it’s essential to remember that for their clients, navigating government regulations will always remain a priority concern. As Myers puts it, “It’s always about finding ways to minimize taxes.” Blackman echoes this sentiment, emphasizing that it’s all about maximizing efficiencies in the process.
If you’ve run out of options for tax savings? Consider investing it in something that brings you joy,” suggests Blackman.
David Bolno, Richard Feldstein, Bernie Gudvi, Michael Karlin, Thomas Kingsley, Matt Segal, Mickey Segal and Dian Vaughn
Spanning seven offices and employing approximately 650 people, the nation’s largest business management company persists in its expansion amidst a continuous legal dispute with owner Focus Financial Partners. Founding partner Karlin, who manages high-profile clients like the Red Hot Chili Peppers, still finds joy in his work after 43 years. “We’re bustling, and it’s an exhilarating line of business,” he states. The firm also represents notable figures such as Beyoncé and Adam Levine.
Jason Brown, Anna DerParseghian and John Power
Several clients from California and New York have been inquiring whether they should relocate to a state with more favorable tax laws, according to Brown. This is where the firm comes into play by performing the necessary calculations. Moreover, senior advisors within the firm are receiving questions about dynastic trusts, which are instruments used for transferring wealth to future generations without incurring estate taxes.
Best way to spend $50,000 “Grandchildren 529 [college savings] plans,” says Power.
Matthew Burke
In light of recent significant cyber attacks posing threats to people’s financial wellbeing, Singer Burke has significantly boosted its technology security. This includes strengthening private communication channels as well as developing exclusive software that offers clients real-time, detailed updates. As Burke, who collaborates with creatives from shows like The Bachelor, Bridgerton, The Morning Show, and the Dune movies, explains, these advancements have indeed fostered more substantial interactions with our clients.
Steven Campeas
Take a careful look at spending, reduce expenses where possible and discuss ways to generate income are the top pieces of advice Campeas — whose roster includes John Stamos, Lana Condor and Chiwetel Ejiofor — offers out-of-work clients. He says, “Seeing long-standing clients through the ups and downs, and now they have enough money to last the rest of their lives” is the most fulfilling part of his job.
Best way to spend $50,000 “Invest in your own pension plan or pay down your mortgage.”
Elizabeth Campos and Jack Sinoryan
On September 1st, veterans in the field Campos and Sinoryan established their own company, leveraging over four decades of collective experience. Having ascended from assistant roles, they relish their position as primary problem-solvers for a diverse clientele that spans athletes, entertainment professionals, entrepreneurs, and musicians. According to Campos, relationships are paramount, and while clients may not need to manage the details, they should stay informed.
Advice for out-of-work clients “Find hobbies outside of shopping,” says Campos.
Mark Cattalini, Charles Clancy, Mark Friedman, Matt Lichtenberg, John Rigney and Paul Ta
The company traces its roots back to 1987, when Rigney decided to depart from Jess S. Morgan & Co. to establish a new venture. Now, fast forward three decades, and Level Four’s distinguished clientele includes the likes of Quentin Tarantino, Larry David, and Phil Lord and Chris Miller. When asked about his professional guidance for those seeking employment, Cattalini suggests, “Keep your spending low and stay engaged – both mentally and physically.” Regarding the most frequently asked question from clients, Friedman reveals it’s: “How am I financially standing?
Career highlight “Attending the Cannes Film Festival for the first time,” says Friedman.
Ryan Conlon and Harley Neuman
In the whirlwind of the industry’s resurgence, I find myself swamped with tasks. It’s impacting everyone universally – reduced pitch sessions, less project initiation, and so on. As a founding partner, I work alongside Neuman, guiding the likes of Ryan Murphy, Scarlett Johansson, Zoe Saldaña, Jay Shetty, and Alix Earle, among others. However, there are rays of sunshine: “This year, I had the privilege of visiting a client’s home after they won an Oscar,” shares Neuman. “Believe it or not, it’s even heavier than you might imagine!
This year’s most frequently asked question is: “Many of my clients are considering dual citizenship,” according to Neuman, which he attributes to the current political environment.
Steve Gelon, Van Lee, Alex Smith and Justin Sroka
Following the strikes, Smith is counseling his clients, even those with inherited wealth, to adopt a cautious approach since “recoveries don’t always follow a perfectly straight path.” Sroka encourages her clients, whether they are employed or not, by saying that “concentrating on what brings you joy and stimulates your creativity will yield the best outcomes. Financial strain can hinder you from performing at your peak.” Lee emphasizes, “Expand your network! You never know when unexpected opportunities might present themselves.
As a passionate gamer, I’d say the best way for me to splurge $50,000 would be by investing in an ultimate gaming setup that caters to my physical and mental wellbeing. This includes top-tier gaming hardware, a comfortable gaming chair, a spacious gaming desk, high-quality audio equipment, and even a personal gym or yoga corner for maintaining my health. Plus, I’d allocate some funds for buying the latest video games, virtual reality gear, and possibly even hosting gaming tournaments with friends. This setup would provide endless entertainment while ensuring self-care is never compromised.
Harvey Gettleson, Seth Gettleson and Randy O’Connor
The 24-year-old company, known for counseling industry leaders like J.J. Abrams, Ava DuVernay, Will Packer, and Sterlin Harjo, offers blunt guidance to clients facing employment difficulties in the wake of a strike: “Adapt your lifestyle expectations – and make tough decisions.
Best way to spend $50,000 “Buy art,” advises Harvey Gettleson.
Richard Goldstein, Bruce Kolbrenner, Howard Krant, Alice Lee, David Levin and Lewis Stark
Last year, Adeptus, a company that now manages four previously competing firms, boasts an impressive roster of well-known clients such as John Legend, Chrissy Teigen, Carrie Coon, T-Pain, and MrBeast. Being at the helm of business management certainly has its privileges. For CEO Krant, one of those privileges was finding himself seated opposite Paul McCartney and Yoko Ono, while Joan Jett publicly acknowledged him during her Rock and Roll Hall of Fame induction speech. Meanwhile, Levin cherishes the memory of harmonizing acapella with Madonna backstage before her 1990 concert at Madison Square Garden.
According to Levin, one effective way of spending $50,000 could be by giving out $1,000 each to 50 individuals who haven’t had that amount for some time.
Reggie Gooden
The No. 1 question Gooden has been asked this year is, “What is an HYS and should I have one?” His answer: “It’s a high-yield savings account, and yes, yes, you should.” In the past year, he’s opened a second office in Burbank and expanded his two-year-old firm’s clientele beyond entertainers such as Bella Thorne and Cedric The Entertainer to offer accounting-only services to managers and entertainment brands.
Significant achievement in my career was being featured on a popular national real estate television program, known as ‘Million Dollar Listing’.
Laura Gordon
In her professional life, Gordon collaborates with Nick Cannon, David Oyelowo, Amandla Stenberg, and other affluent performers such as athletes, comedians, movie directors, and musicians. Her clients’ experiences in post-strike Hollywood have been a significant focus for her. Having spent three decades in the industry, Gordon has recently appointed her son, Isaac M. Gordon, as a managing partner within the firm, which has grown to include an office in Atlanta.
If I wasn’t a business manager, I’d be “A minister.”
2024 Business Manager Icon: John McIlwee
McIlwee started a pre-med chemistry course at UCLA but didn’t finish it, instead switching his major to economics. Since then, he hasn’t regretted the change.
After completing his studies in 1989 and working as a waiter near Beverly Hills, he became acquainted with Bryan Lourd and Kevin Huvane, among others: “Back then, all the rising stars from Creative Artists Agency were frequenting the place.” To guide him on his next steps, he identified three key words that encapsulated his dream career: “He wanted a role in an organization that involved finance within the entertainment industry.
A friend suggested that McIlwee should become an agent, but he explored joining CAA’s mailroom instead, finding it not suitable. Another friend advised him to consider business management, which was unfamiliar to him. Determined to learn, McIlwee delved into the subject himself. On his second try at cold-calling business management firms listed in the Beverly Hills phone book, he found success. “I began working there in 1990 and stayed for 29 years,” he says, referring to the firm that eventually grew into Shephard McIlwee & Tinglof. “Initially, we were just three people, but we expanded it into one of the top business management firms in Hollywood.
The most useful early advice he got was: “You can never tell somebody bad news soon enough,” he says, adding, “The sooner you can alert them to a negative situation, the more time you have to come up with an action plan. A lot of people procrastinate, and that’s why they get into tax problems. We are 180 degrees the opposite.”
It could well be the reason that, since striking out independently in 2019, his clients have managed to endure the combined challenges of a pandemic and strikes. Several of them are experiencing a successful year: Jonathan Groff was awarded the best actor Tony for “Merrily We Roll Along”, Matt Reeves’ “The Penguin” recently debuted on Max, Kerry Condon is slated to co-star with Brad Pitt in the 2025 film “F1”, and there’s also a new client, Kevin Costner. McIlwee states, “He’s had quite a bit of activity this year, and it’s been wonderful for me and my team to be able to assist him.
Between tax prep, income and spending tracking, navigating guild health insurance options and more, his goal is always to have clients feel “communicated to, protected and also taken care of.”
Outside of managing the financial affairs of clients like Jane Lynch, McIlwee, and Bill Damaschke (president of Warner Bros. Pictures Animation), he has invested in and restored several historically significant homes in Southern California. Notable properties include L.A.’s John Lautner-designed Garcia House and an estate previously owned by Gerald and Betty Ford in Rancho Mirage. He finds it easy to switch between his analytical (financial) and creative (preservation of architecture) sides, remarking that while he considers the financial return, he also feels they are preserving history and our architectural heritage. — Lisa de los Reyes
Liz Kenney
Kenney, who works with stars like Awkwafina and Tiffany Haddish, now handles influencers and comedians as well, including the Bored Teachers touring group. “Since the economic decline,” Kenney notes, “things are moving quite slowly.” However, she adds that the touring industry is thriving. To those out of work, she advises, “Take advantage of this free time to invest in personal projects you’re passionate about.
If I wasn’t a business manager, I’d be “A professional golfer.”
Mark Landesman, Scott Landesman, Jessica Mooney and Paul Zukowsky
Managers at ML, well-known for handling big names in comedy, have shared that their clients frequently ask, “When should I invest in real estate once more?” This is a query that Mark Landesman, Icon of 2023, and his son, Scott, often encounter.
If I wasn’t a business manager, I’d be “A history teacher,” says Scott.
Humble Lukanga
If Lukanga wasn’t the CEO and founder of his financial advisory firm, he would be a pediatrician dedicated to improving children’s lives. However, he currently focuses on helping clients such as Issa Rae, Terry Crews, and Anthony Edwards manage their wealth, while contemplating about the potential impact of AI on the film and TV industry.
Suggestion for jobless clients: “Remember, you’re not unemployed, you simply have a break to recharge and refine your skills.
Carrie Malcolm
Malcolm, who joined NKSFB in 2020, has managed the business affairs of Hollywood figures like Ethan Hawke and Benedict Cumberbatch for more than 20 years. One highlight? The time she sang back-up on “Sweet Jane” for David Duchovny at London’s O2 arena.
If I wasn’t a business manager, I’d be “A travel writer.”
Joel Mandel, Rob Mandel and Erica Wright
This formidable team, while keeping a low profile in the media, boasts an impressive roster of high-profile clients. Various sources suggest that their financial management skills are associated with some extremely successful figures in the entertainment industry, such as Judd Apatow, Greg Daniels, Steven Levitan, and Gwyneth Paltrow.
Andrew Meyer and Steves Rodriguez
Maintaining financial harmony is a constant goal for this duo, who boast an impressive lineup that includes Jon M. Chu, Kathryn Hahn, Ramy Youssef, and Ellen Pompeo. As Meyer explains, “We assess their overall situation and propose, ‘Let’s find a solution,’ ” A solution tailored to each household, be it an individual or an extended family. In the realm of blended families, Rodriguez represents Kerstin Emhoff, co-founder of production company Prettybird and ex-spouse of Second Gentleman Doug Emhoff.
Rodriguez often gets asked the question, “What’s the trend among your other clients?” or more casually, “How are things going with other clients of yours?” The essence is, he is inquired about his clients’ workload, asking if they are occupied.
Mark Pariser and Tony Peyrot
Pariser and Peyrot cater to a wide range of clients, including actor Giancarlo Esposito, a professional boxer, a college basketball player, and a DJ. According to Pariser, predicting when interest rates will significantly decrease has been challenging. “If I had a definitive answer,” he quips, “I’d be an incredibly wealthy advisor!” The manager who signed his first client 30 years ago emphasizes the importance of budget management: “We can’t tell how long this slowdown will persist.
According to Pariser, “if I didn’t manage a business, I would be a therapist.” He finds pleasure in conversing with individuals about matters that significantly impact their lives.
Phil Ramos
Ramos shares that if not for his commitments to clients such as Chad Stahelski, director of “John Wick,” and David Leitch and Kelly McCormick, the team behind “The Fall Guy,” he would be dedicating himself to rescuing animals like dogs and cats. To those who are currently unemployed, his consistent advice has been: “Cut back on expenses and keep reaching out to the people who have provided you with opportunities in the past. Something positive will come from it.
Joseph Rust
The seasoned associate at Prager Metis, known for overseeing a diverse range of entertainers such as musicians, screenwriters, and even creators like Trey Parker and Matt Stone from South Park, remarks that AI, once perceived with apprehension in Hollywood’s creative circles, is already sparking transformations within the management sector. He explains that auditing technology alone is aiding us in identifying discrepancies, making it easier to locate critical issues amidst a large amount of data, just as finding needles in a haystack becomes possible after setting the haystack on fire.
Rob Salzman and David Weise
Weise, the founder known for collaborating with artists like The Weeknd and Coldplay, is skilled at assisting clients in adapting to an industry that’s always evolving. His recommendation? Stay ready for those periods when work might be scarce. Salzman, who joined NKSFB together with Weise in 2019, advises taking stock of your current situation and reducing unnecessary expenses.
Most-asked question this year “Why am I paying so much in income taxes?” says Weise.
Rick Shephard and Mark Tinglof
30 years ago, the founder of the firm, whom we’ll refer to as Shephard, proudly recounts one of his career milestones: inviting Tinglof, whom he describes as “an unwaveringly reliable partner any business manager could wish for,” to join him. This low-profile company, which provides counsel to celebrities like Courteney Cox, Ben Stiller, Kurt Russell, Jon Favreau, and Michael Engler (director of The Gilded Age), has been advising its clients on cutting back spending and, as Tinglof puts it, “minimizing losses.
Best way to spend $50,000 “Stay away from Last Vegas and short Tesla stock,” says Tinglof.
Steven Shapiro
Shapiro acknowledges that a significant part of his professional achievements can be traced back to his mother’s advice in 1989, when she encouraged him to stay with accounting instead of pursuing law school. This seasoned professional, who collaborates with stars like Zendaya, Taylor Sheridan, “Weird Al” Yankovic, Lamorne Morris, and Aaron Paul, has found that the most frequent question he’s fielding this year is: “At what point can I sell my home and then buy it again?
Barry Siegel, Jeff Turner and Bill Vuylsteke
The company, spanning five locations, such as San Francisco and Nashville, has flourished even in difficult times, primarily due to the lively touring music industry. Vuylsteke, who manages finances for Green Day and Sheryl Crow, among others (like Mike Judge, Angela Bassett, and Elijah Wood), notes that they have numerous acts performing at theaters and stadiums.
Michael Ullman
As a devoted enthusiast, I’d rephrase it like this:
Iif I wasn’t a business manager, I’d be “Clients tell me I could’ve been a comedian.”
Jeff Wolman
This reserved graduate from the University of Toronto, currently residing in Culver City, is not only a lawyer but also an expert in taxation and investment strategy. He boasts an impressive clientele consisting of Bradley Cooper, James Wan, Halle Berry, and fellow Canadian Will Arnett, all of whom have garnered awards across various categories within the EGOT (Emmy, Grammy, Oscar, Tony) spectrum.
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2024-10-09 17:56