Kella Stephenson, director of The Kella Stephenson Company, handles financial management for a number of Nashville songwriters, including Hillary Lindsey ("Jesus Take The Wheel") and James Slater ("In My Daughter's Eyes").
What exactly do you do, Kella.
I do business management and financial planning for songwriters. That entails everything from paying their power bill to reviewing publishing deal points to investment and estate planning. Day-to-day type services include paying all client bills, banking, personal budgets, managing cash flow, quarterly tax estimates / projections, and providing quarterly financial statements. We also focus on personal financial planning, which entails investment, insurance, tax, and estate planning. We don’t sell products, so I will work with industry specific professionals – CPA for taxes, estate attorneys, licensed insurance agents, and other CFP designees for investment purposes. I will also help guide clients when making career decisions with respect to publishing deals, catalog sales, publishing administration deals, and again will work with their respective music attorney in those situations.
When does an artist need the services of someone like you.
Obviously, it has to make sense from a financial standpoint to hire a business manager, but when a songwriter’s efforts are better spent on doing what they do best -- being creative and getting the financial worries off their plate --... Sign In to Keep Reading