Veteran rock band talks up financial advice

Speaking to the UK's Daily Telegraph, Status Quo lead singer Francis Rossi said the up and coming band should be fully aware of the business side of the music industry and employ trusted advisers.

“It’s a good point to keep your eyes on the money with bands like One Direction, as when you’re starting out and you’re a guitar player or a singer, what do you know about money?” Mr Rossi said.

“The questions they need to ask are: ‘Have you checked your lawyer? Have you checked your accountant? Do you know your accountant?’

“I wish we had because if you don’t, you can get taken advantage of.”

One Direction are believed to use advisers from Grant Thornton wealth management.