Disability insurance is critical but often overlooked, she notes, adding that many people in the film industry use their bodies for their job. “So if they go and break their leg, they’re out of work,” she says.
Brightworth doesn’t sell insurance, but Sklar makes sure clients have the right coverage in place for their families. Tax planning is also important, especially when people freelance or have businesses on the side. (Sklar has a CPA background.)
She says she was the only financial advisor who attended that session of Burns’ “film business 101” class. Sklar and a colleague spoke to a group of about 50 actors attending an acting class on a Sunday night. “They were shooting off financial questions at us left and right,” she recalls, so the session went on until 11 p.m.
Working with members of the film industry has its perks. Sklar attended a Netflix screening and a client invited her on the set of a big production. Some people she has spoken with are beginning to make substantial incomes. By meeting and working with them earlier in their careers, she says, she can help them avoid costly financial mistakes later.