The Institute of Financial Wellness for the Arts is the first
organization of its kind to cater exclusively to career artists and arts
institutions
NEW YORK & FORT LAUDERDALE, Fla.–(BUSINESS WIRE)–#FinancialWellness—The
Institute of Financial Wellness for the Arts (IFWA), a new financial
wellness company catering specifically to career professionals in the
arts and entertainment industries, is proud to announce its official
nationwide debut. The company offers one-on-one coaching, financial
wellness in the workplace programs and workshops, and engaging, original
financial education content online all designed to help career artists
and arts professionals become more financially successful.
The IFWA is the brainchild of Darren Sussman, an established
entrepreneur, musician and Broadway theater producer, and his brother
Erik Sussman, who brings over 25 years of expertise in the financial
services industry. Prior to founding IFWA, Darren co-founded
TheaterMania, an online theater information and ticketing platform, and
later OvationTix, a cloud-based ticketing, CRM, and fundraising platform
for more than 600 theater and arts organizations nationwide. He also
co-produced the two-time Tony-award winning Broadway show The Great
Comet, in addition to producing the Opening Concert of The Olympic
Village for the 2014 Winter Olympics in Sochi, among other festivals and
concerts.
The IFWA’s advisory board includes Emmy and Tony-award-winning
actress/singer Kristin Chenoweth, award-winning playwright and activist
David Bar Katz, and actor and three-time NAACP Image Award Winner Malik
Yoba, among others.
“According to recent data from the Bureau of Economic Analysis, the arts
and cultural sector generated 4.3 percent of U.S. GDP, and contributed
more than $804.3 billion to the economy, all while employing roughly 5
million people,” says Darren Sussman. “Yet, the industry is woefully
underserved in the financial services arena. Our goal is to close the
financial education and access gap, and in so doing, help make the arts
as a whole more sustainable.”
“We believe that every arts professional, actor, writer, director,
dancer or musician deserves to have a well-planned and sustainable
financial life,” he adds.
“There’s a general misconception that, with few exceptions, most people
in the industry are struggling financially,” says Erik Sussman. “While
like any industry, arts and entertainment deals with broad disparities
in compensation, a Broadway actor or working musician often makes a very
good living, well into six figures and beyond. The challenge is that
many professionals are self-employed, or their incomes fluctuate, so
they often lack the resources to develop and sustain a long-term
financial plan or achieve goals like buying a home. They may not have
access to company-sponsored retirement or insurance plans and often
don’t understand their union pension plans either. There are a number of
scenarios which are unique to this community that the IFWA understands
and can address.”
The IFWA works with a hand-selected team of accredited financial coaches
nationwide, each affiliated with a Fortune 500 financial services firm
and uniquely trained to address every stage of an artist or arts
professional’s financial life.
For individuals, the IFWA offers an initial complimentary and
confidential consultation
with a coach to develop and implement a strategic plan to help them
achieve their goals.
For organizations, the IFWA provides ongoing financial education and
wellness workshops, along with access to viable savings and protection
benefit programs for the entire staff.
Consultations and financial education workshops are available by
appointment. Visit www.theifwa.com.
About the IFWA
The Institute of Financial Wellness for the Arts (IFWA) provides
financial education and planning solutions to the arts and entertainment
industry. Created in 2018 by Darren and Erik Sussman, the IFWA helps
artists and arts professionals achieve and maintain financial success
through high-quality curriculum, coaching and services. Our goal is to
ensure that every artist and arts professional nationwide has the chance
to make informed choices and decisions that result in financial
well-being. Visit www.theifwa.com.
Contacts
Melinda Sherwood
[email protected]
T:
305-663-3543
Laura Acker
[email protected]
T:
212-447-6370
