Wealthy and Wise

Twentysomethings need financial planners, too--and these entrepreneurs are cashing in.
Magazine Contributor
1 min read

This story appears in the June 2005 issue of Entrepreneur. Subscribe »

Through their firm, MadisonSmallwood Financial Group, Horace Madison, 40, and Solomon Smallwood, 36, provide not only wealth management, but also back-office accounting for some of the biggest stars from hip-hop to Hollywood. Starting out with clients from the music world, including Outkast and Usher, the two have developed a practice around helping young musicians, athletes, entrepreneurs and actors make--and keep--more money.

"We explain to our clients that it's easy to be rich," says Madison. "Being wealthy is the difficult part. Being wealthy means keeping more of the money you make and making it work for you."

For those who become rich at a very young age, Madison and Smallwood have seen money be both a "gift and a curse." With offices in Atlanta, Los Angeles, Miami and New York, they are busy dispelling the curses, handling about $40 million in client revenues and bringing in over $2 million annually.

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