As the bassist for Guns N’ Roses, Duff McKagan was paid quite handsomely. But at the time, he didn’t really have a firm grasp on the ins and outs of his earnings.

He does now. And once Meridian Rock Capital Management launches in October, McKagan and his fellow co-founders will do their best to see that other musicians stay in tune with their money and don’t ever end up singing the financial blues.

McKagan’s interest in wealth management started around 1994 during his recovery from pancreatic surgery.

“When I first got out of the hospital, I was just trying to stay sober, so I had to fill my time,” recalls McKagan, who’s now a member of Velvet Revolver. “One of the things I did was to go through my financial statements, and I couldn’t figure them out.”

He hit the books and eventually studied at Seattle University’s Albers School of Business and Economics. Lately, he’s put his knowledge to use by writing Duffonomics, a weekly financial column for Playboy magazine’s website.

McKagan and his Meridian Rock partners will work with emerging and established artists — plus the estates of deceased musicians, as well as other living music industry professionals — “to educate and inform [their] clients on the wealth management process,” according to the firm’s website.

[Ultimate Classic Rock]