From content to capital

The influencer's guide to financial planning

Author: Laura Clark, Financial Planning Consultant, Crowe Financial Planning UK Limited

If you're an influencer or content creator, you are earning income in a way which can create complications, and it is important to get ahead of the potential pitfalls before they create ‘legacy’ issues which could be to your financial detriment.

Track and sustain

One of the main barriers you will face is that your income streams are inconsistent and unpredictable. Understanding your basic financial needs will also be critical in understanding what you need your wealth to achieve.

Through increased visibility, you will also better understand the impact of ‘lifestyle inflation’. As you have started earning more, has your spending matched pace, meaning you are living and spending with a short-term focus? A financial planner will always plan over the longer term and if your income streams suddenly run dry, having the right structure in place, will help your financial stability during ‘slower’ periods. Meaning you can continue to focus on content creation and brand boosting.

Visibility is essential to help avoid future complications. Knowing what you are spending and what you are receiving is needed to help you ‘track’ your cashflow efficiently and sustain your wealth over the longer term.

From content to company

From first post to full business set up — we've got you covered.

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Structural problems

You may have started off as a sole trader but is that still the right structure for you?

As a business owner, you will lack the normal protections an employed role provides and as your brand grows, so may the demands on your business. Different business structures have various considerations, planning opportunities and risks. The right structure depends entirely on your personal circumstances, and this is not a ‘one size fits all’ solution.

Make sure you are seeking advice around the structure of your business to ensure you can maximise on the planning opportunities available to you, such as retirement planning and financial protection. These are key to supporting your long-term financial journey and building lasting financial resilience.

What’s the plan?

In addition to growing your visibility on social channels and retaining your following, what are your goals and what do you need your capital to achieve?

Let us align your wealth strategy to support not only your ongoing influencer ambitions but your personal goals too. With the right structure in place, a clear focus on your financials, and by working with a professional Financial Planner, you can be assured your structure and underlying investment strategy are in place to help you achieve long-term financial success. This partnership and increased financial education also help you avoid bad, uninformed financial decisions, which may present high levels of risk to your wealth.

Being a content producer is no easy feat; the constant demand for engaging content takes time, energy and creativity. By having the right team in place, you will ensure your wealth is structured to support long-term success. That way, you can gain peace of mind and focus on what you do best, creating fantastic content.

At Crowe Financial Planning, we can support you with your long-term financial planning needs and ensure your plan adapts and evolves with you over time. We can also liaise with Crowe U.K. LLP’s Tax Resolutions Team to ensure all your tax needs are being taken care of. Collectively, we work together, providing you with the peace of mind that you are getting fantastic financial outcomes. Get in touch today to take control of your financial future.

Disclaimer

Crowe Financial Planning UK Limited is authorised and regulated by the Financial Conduct Authority (FCA) to provide independent financial advice.

The information set out in this publication is for information purposes only and is based on our understanding of legislation, whether proposed or in force, and market practice at the time of writing. It does not constitute advice to undertake a particular transaction. Appropriate professional advice should be taken on specific issues before any course of action is pursued. Any advice provided by a Crowe Consultant will follow only after consideration of all aspects of our internal advice guidance.

Past performance is not a guide to future performance, nor a reliable indicator of future results or performance. The value of investments, and the income or capital entitlement which may derive from them, if any, may go down as well as up and is not guaranteed; therefore, investors may not get back the amount originally invested.

Investments qualifying for business relief are considered ‘High Risk’ and you are unlikely to be protected if something goes wrong. You should not invest into these schemes unless you are prepared to lose all the money you invest.

The Financial Conduct Authority does not regulate Trusts, Tax or Estate Planning.