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

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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]


Who Wants To Buy A Wealth Management Firm?

Barclays' might be up for grabs, if you know anyone who's interested.