• 22 Aug 2011 at 11:47 AM

Former Guns ‘N Roses Bassist’s Wealth Management Firm Will Launch In October

By

Remember when Duff McKagan said he was going to start managing money? To recap, back 1994, while recovering from a ruptured pancreas, the Guns ‘N Roses bassist was puttering around his basement when he happened upon GnR’s financials from the previous six years. Flipping through the reports he had a bit of a panic attack when he realized, “I couldn’t make sense of it. I didn’t know how much we had made or lost on the tour,” and got himself into even more of a tizzy when he though about admitting to someone, “I don’t know what the fuck I’m doing.” So he decided to take some finance classes at Santa Monica Community College and while fronting his new band, Velvet Revolver, started giving financial advice on the side. After “word started spreading that he knew something about managing money” and Duff was taking calls from his musician friends asking him about “everything from whether to buy a house to where they should invest their money,” he realized a coupla things. 1) That he was pretty good at this money management stuff and 2) fellow musicians were comfortable being counseled by him because he didn’t “wear a suit” and therefore wasn’t representative of The Man. And that’s when a lightbulb went off.

McKagan decided he would team up with someone who had a little bit but not much more financial wisdom to impart and who wouldn’t scare off anti-Establishment rockstars with his fancy degrees and experience in the industry. He found his man in former banker Andy Bottomsley and together, the two decided they would launch Meridian Rock, to “educate rockers about their finances instead of pandering or lying to them,” and be straight with colleagues re: whether or not they’re completely broke, by speaking directly to the talent, in plain and simple terms. The company’s three tenets, Duff said, would be “righteousness (i.e., not screwing people over), transparency, and education.”

Anyway, apparently this thing is officially getting off the ground in October, and they could still use a couple more mangers to round out the team. Whether you’re expecting to be one of the 100,000 financial services employees laid off by the end of the year or not, we suggest getting in touch.

Guns ‘N Roses Financial Guru [Herald Sun]

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Comments (70)

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  1. 1
    Posted by J. Paulson | August 22, 2011 at 11:56 AM

    Can't wait for this to go public!

  2. 2
    Posted by Guest | August 22, 2011 at 11:57 AM

    Welcome to the Jungle, Duff.

  3. 3
    Posted by Nails | August 22, 2011 at 11:58 AM

    I'm fine with not wearing a suit…but not having a twizzler dangling from your mouth??? Can't be trusted.

  4. 4
    Posted by P. Falcone | August 22, 2011 at 12:09 PM

    Can't wait for this to go public!

  5. 5
    Posted by B. Frank | August 22, 2011 at 12:17 PM

    Bottomsley… reminds me of a video I have somewhere…

  6. 6
    Posted by Tank the Frank | August 22, 2011 at 12:18 PM

    I know he is going to make it rain in November. I know it.

    Gartman Roses

  7. 7
    Posted by Guest Time | August 22, 2011 at 12:21 PM

    I didn't expect Duff to take the "Use Your Illusion" title so seriously…..

    -Slash

  8. 8
    Posted by Jackie Treehorn | August 22, 2011 at 12:23 PM

    Wu Tang Financial Ain't Nothin To Fuck With

  9. 9
    Posted by Guest | August 22, 2011 at 12:25 PM

    How long before Cramer endorses him?

  10. 10
    Posted by MWC | August 22, 2011 at 12:30 PM

    "Hey buys munis based on the number of groupies he's banged in each city and ya know what…I like it".

    - MW

  11. 11
    Posted by KennyPowersCFA | August 22, 2011 at 12:44 PM

    Focuses on bonds backed by hospitals with STD clinics and rehab facilities.

  12. 12
    Posted by Axl | August 22, 2011 at 12:47 PM

    They also boast an expertise in poppy futures.

  13. 13
    Posted by The Man | August 22, 2011 at 1:13 PM

    bigot

  14. 14
    Posted by Anon | August 22, 2011 at 1:37 PM

    Finance classes at Santa Monica Community College > CFA

  15. 15
    Posted by Louis Winthorpe III | August 22, 2011 at 1:48 PM

    Obviously I realize you're kidding, LD, but I'm serious about this — if you want to manage my money, then you better wear a fucking tie.

  16. 16
    Posted by J. Paulson | August 22, 2011 at 1:57 PM

    Need a PM?

  17. 17
    Posted by Louis Winthorpe III | August 22, 2011 at 2:00 PM

    Finance classes at Santa Monica Community College > CFA > NYU Continuing Education > Harvard Extension School > CPA > MBA > GED > UBS

  18. 18
    Posted by Guest | August 22, 2011 at 2:31 PM

    "McKagan decided he would team up with someone who had a little bit but not much more financial wisdom to impart and who wouldn’t scare off anti-Establishment rockstars with his fancy degrees and experience in the industry."

    Usually a good sign, in my experience.

    – Fund of Funds Analyst

  19. 19
    Posted by B. Madoff | August 22, 2011 at 2:56 PM

    Where should I wire the funds?

  20. 20
    Posted by Guest | August 22, 2011 at 3:00 PM

    Agreed. We have far more Santa Monica Community College graduates than CFA holders working at our Investment Bank

    – UBS HR

  21. 21
    Posted by danger | August 22, 2011 at 3:38 PM

    "Rightousness…" ? Bill & Ted must be sales & marketing execs… sign me up !!!!

  22. 22
    Posted by tintinsapussy | August 22, 2011 at 4:01 PM

    Whole different kinda drug test there-

  23. 23
    Posted by Anal_ist | August 22, 2011 at 4:16 PM

    Our most profitable group, which I run, writes default insurance on has-been celebrities. It is like free money. They never default with all the savings that they have socked away.

    -Joseph Cassano, Executive VP of Meridian Financial Products a division of Meridian Rock Capital Management

  24. 24
    Posted by Lloyd | August 22, 2011 at 4:19 PM

    squeezing Pace EMBA between GED and UBS

  25. 25
    Posted by SMCC Student | August 22, 2011 at 4:59 PM

    "they could still use a couple more mangers to round out the team." Priority given to 1st year SMCC students with no interest in finance.

  26. 26
    Posted by wahoo | August 22, 2011 at 5:29 PM

    I don't need to take a test to know I do drugs.

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    Posted by D. Bonderman | August 22, 2011 at 6:55 PM

    The old Lenny Dykstra model…and look at his raging success!

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    Posted by NOTaREALmerican | August 22, 2011 at 7:31 PM

    Oh no…. This happened in 08 too. Head for the bunker!

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