Financial Planning firm Succession Wealth has launched Succession Sports & Entertainment, a specialist advice arm for sporting and entertainment professionals.

The new advice arm plans to offer both established and young professionals financial advice and education as well as offering Financial Planning advice to retiring professionals.

Sports and entertainment professionals often have short-lived careers so the new service from Succession aims to help clients “plan for the future and become financially independent, while steering them away from costly errors that can derail their finances.”

The service uses cashflow modelling technology to forecast finances and provide a visual guide to possible future outcomes.

The team includes several Financial Planners already working within the sports and entertainment sectors.

When announcing the launch, Succession said that they already act as financial adviser to several high-profile sports and entertainment stars and their families.

The new team will also work closely with football academies and schools to help provide young people with money management skills and knowledge.

Ehson Dejahang, Financial Planner at Succession, said: “The biggest issue relating to money is often the lack of education around finances. We are passionate advocates of the importance of financial education from an early age and, through our outreach work with academies and schools, hope to make a real difference in the community.”

Mr Dejahang said that the launch of the new advice arm builds on the existing experience the Financial Planning firm has with supporting high-profile stars, working with individuals to ensure they are making good financial decisions from the start of their career.

He said: “While sporting careers can often be short, and earnings sporadic in the world of entertainment, these professionals can also have multiple careers, so we want to be there for them throughout that process.”