Actor Kevin Kline is 66. Actor B.D. Wong is 53. Drummer Ben Gillies of Silverchair is 34. Singer Monica is 33. Singer-actress Adrienne Bailon of 3LW (The Cheetah Girls) is 30. Rapper Drake is 27. Actress Shenae Grimes (90210) is 24. Oct. 25: Actress Marion Ross is 85. Country singer Jeanne Black is 76. Singer Jon Anderson (Yes) is 69.
Celebrity Week In Review: Kris And Bruce Jenner Separate, Lea Michele Speaks Out And More
9 in London. Celebrity Photos: October 2013 A sparkling Kate Hudson shined in a disco ball broken glass dress for a photo shoot in Los Angeles, Calif., on Oct. 8. Celebrity Photos: October 2013 Miley Cyrus signed copies of her CD “Bangerz” at Planet Hollywood in New York City Oct. 8. Celebrity Photos: October 2013 Lea Michele met Jane Lynch and Matthew Morrison of “Glee” for lunch at the Four Seasons in Los Angeles, Calif., on Oct. 8. Celebrity Photos: October 2013 Jessica Alba was seen outside Breakfast Television and the CBC building, promoting her ‘The Honest Company’ baby products in Toronto on Oct. 8. Celebrity Photos: October 2013 Jude Law signed autographs for fans outside the BBC Radio One studios on Oct. 8 in London. Celebrity Photos: October 2013 Abbie Cornish attended the MIPCOM party during MIPCOM 2013 in Cannes, France on Oct.
Follow Comments Following Comments Unfollow Comments In order to address the needs and wants of certain unique wealthy populations, multi-family offices are continually developing new operational structures. One example of this is the celebrity multi-family office, which is designed to meet the needs and wants of highly successful entertainers and athletes. Celebrities can especially benefit from the coordinated approach, characteristic of a multi-family office, explains Richard Flynn, principal with the Rothstein Kass family office group . Of course, the staff must be expert at overseeing the integration of investment management, advanced planning, private investment banking, business strategy, and related support services. While most high-profile successes appear to have a charmed life, there is usually an intense back-story filled with frustrations and anxieties that cannot be overlooked. Even when they have achieved levels of fame and fortune long sought in our culture, most celebrities find their status has its drawbacks. Were all familiar with the stories about bankruptcy and overspending in show business, says Hannah Shaw Grove, executive editor of Private Wealth magazine and principal of the boutique consultancy HSGrove . Most entertainers and celebrities have a limited window in which they can earn consistently high incomes, so they need a strong team of professionals around them to help protect and leverage their assets into something greater. Athletes dont fare much better. Every move an athlete makes is observed, analyzed, and frequently second-guessed by coaches, managers, teammates, fans, and members of the press. Since a great number of people and organizations, such as sports federations and commercial sponsors, rely on winning athletes to generate revenue, its understandable that most athletes feel the pressure and are afraid of failure. Celebrities seeking a financial advisory relationship are increasingly attracted to the multi-family office model, which integrates select core aspects of a business managers job with a broad array of financial and legal expertise. According to Miguel Forbes , vice chairman of the Forbes Family Trust, Successful entertainers and athletes are turning to multi-family offices, who can help them navigate their financial worlds and are nimble enough to offer business strategy and support services specific to them. Celebrity multi-family offices offer a broad array of expertise, including advanced planning, which is a suite of cutting-edge services that help wealthy individuals and families structure their assets to be as tax-effective and secure as possible. According to Frank Seneco, president of Seneco & Associates , The ability of entertainers, for example, to leverage their loan-out corporations can prove extremely profitable. Advisors in multi-family offices can also offer business strategy and support, handling licensing agreements or business ventures with the celebrities names attached and helping them capitalize on their success to generate significant monies. All too often, less knowledgeable advisors will let celebrities not well versed in these areas dive into business deals with a very limited chance of success. When celebrities call on advisors to develop a business model, it means the advisors must go beyond the role of a traditional multi-family office, business manager, or management consultant, because theyre tackling the clients financial and tax issues all along the way, explains Flynn. The celebrity multi-family office offers two critical advantages to successful entertainers and athletes.