Yahoo Sports Britney Spears' Co-Conservator Andrew Wallet Made $426,000 Per Year
In the new documentary Framing Britney Spears, which follows the untold story of Britney Spears' conservatorship and the #FreeBritney movement, viewers meet lawyer Andrew Wallet.
Wallet was appointed to help Jamie Spears, Britney's father, manage Britney's estate and financial decisions after a court granted Spears control of his daughter's financial and personal life.
Wallet resigned when Britney's Las Vegas residency was canceled and received $100,000.
In August 2020, when Britney's conservatorship was being reevaluated, her father Jamie petitioned courts to re-hire Wallet, though Britney was against it.
In the new documentary Framing Britney Spears, which follows the untold story of Britney Spears' conservatorship and the #FreeBritney movement, fans who haven't been following the years-long saga will be introduced to another important figure in the pop star's circle: Andrew Wallet.
Wallet is a lawyer who was appointed to help Jamie Spears, Britney's father, manage Britney's estate and financial decisions after a court granted Spears control of his daughter's financial and personal life due to mental limitations.
In court affidavits from 2018, Wallet argued that since he took over the conservatorship, the estate made $20 million. "At the beginning of the conservatorship, the estate was nearly out of fund and cash equivalents,” he said. “The problems were of epic proportions over a period of years. Extraordinary skills have been employed by all in order to achieve the results enjoyed at the present time.”
In 2018, he asked for (and got) a significant raise that would bring his compensation to $426,000 per year, saying that he prevented the "hundreds of people" in Britney's orbit during the Circus Tour and (canceled) Las Vegas residency from exposing her to drugs, which would destroy her sobriety.
He claims he was compensated fairly, since others in his position have made seven figures. "What I was paid was more than fair for what I was asked to do," he said. "In that world, professionals doing what I was doing would be getting over $1 million a year."
Britney's Gram podcast host Tess Barker has said the raise seemed unreasonable. "It didn’t seem that being someone’s conservator should be a for-profit position," Barker told Vanity Fair. Wallet resigned when Britney's Las Vegas residency was canceled and received $100,000 for the resignation.
In August 2020, when Britney's conservatorship was being reevaluated, her father Jamie petitioned courts to re-hire Wallet, though Britney was against it. When Britney said she wanted her father off the conservatorship, replaced by her care manager Jodi Montgomery, Britney's lawyers called Wallet "uniquely unsuitable" to manage her estate, especially since she doesn't want to perform again.
In October 2020, after Britney's father removed the request to have him reappointed, Wallet accused the #FreeBritney fan movement of "complicating" the conservatorship legal proceedings. "Britney to this day does not have the capacity to sign documents and make decisions for herself," he said. "Protecting her assets is very important and for that the conservatorship has to stay in place because she is susceptible to undue influences." He believes he could be under a conservatorship for the rest of her life.
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