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Financial Planning for Music Professionals

man playing wind instrument
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Personalized Financial Planning Built for Music Professionals

A career in music comes with its unique challenges when it comes to planning for your financial future and ensuring your current financial security. Whether you are a full-time freelance musician, a music educator, a music industry professional, or just a part-time music hobbyist, making the most of your musical career requires organized personal and business accounting, intentional goal setting, and savvy financial planning. We are here to help set you up for success in all aspects of your financial life. 

Who’s it for?

  • Freelance musicians 
  • Part-time musicians 
  • Recording artists 
  • Music educators 
  • Producers and engineers
  • Music industry professionals (managers, promoters, booking agents, etc.)

Problems you may be facing

We often hear questions like these:

  • How do I keep track of my income and expenses?
  • Which of my expenses are tax-deductible?
  • How can I plan for future goals such as a studio, a release, an educational program, etc.? 
  • Should I establish a business structure to run my musician work through? 
  • How should I protect my assets, gear, instruments, and intellectual property?
  • What are the best investment strategies for my risk tolerance and time horizon?
  • How can I avoid getting burned by bad investments?
  • How should I be giving to charity?

How our advisors help

Jato Wealth Advisory is a full-service financial planning and investment management firm. We specialize in helping musicians of all shapes and sizes take control of their financial well-being.

How we help musicians:

  • Goal planning
    • Are you looking to own a studio, record and release an album, go on tour, or develop an educational camp for young musicians? Maybe you have long-term ambitions of leaving a legacy to a charitable organization, or of traveling abroad to study/ perform internationally. We act as accountability partners to help you identify and then reach your goals.
  • Cash flow management
    • We assist you with organizing your income streams and keeping track of expenses to help you obtain financial security and ensure that progress towards your goals stays on track.
  • Business planning
    • Treating your music career as a business doesn’t mean that you are corrupting your art. In fact, it only serves to enable your creativity to reach its highest potential. Whether it is structuring your pursuits as a legal business entity, registering copyrights for your songs, or obtaining insurance for your instruments/ musical equipment, we will help you plan for how to make your music business run smoothly.
  • Tax planning
    • Musicians’ tax returns can be filled with red flags that might trigger an audit. We coordinate with your CPA to ensure that deadlines are met, proper forms are filed, and deductions are taken full advantage of. We also will strategize with you on how to make sure that savings plans, large purchases, charitable giving, etc. are carried out as tax-efficiently as possible.
  • Tools and calculators
    • We provide all of our ongoing clients with access to a personalized Financial Planning Dashboard where you can link all of your accounts and see real-time values, track your Net Worth, run income and expense reports, and build/ track budgets. We also provide helpful calculators, decision-making flow charts, and other educational resources (i.e. choosing the best business structure, first-time homebuyer calculator, issues to consider when moving out of state list, life insurance needs calculator, and many more).
  • Comprehensive Planning + Investment Management

Pricing

  • Hourly planning services: $150/ hour
  • Ongoing comprehensive planning: $50 – $400 / month (depending on situation/ complexity)
  • Assets under management exceeding $350,000: 1% AUM

Contact us to set up a free consultation and we will discuss what level of service may be the best fit for you. We do not have a required asset minimum. We think that financial planning should be available for everyone.

Learn More

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