Professional athletes face unique challenges and demands when it comes to financial planning. Unlike individuals in more traditional careers, athletes often acquire the bulk of their lifetime wealth during a relatively short playing career, making immediate and careful financial planning vital to protecting, growing, and maintaining their wealth —and their lifestyle—over a much longer time span than most. Also, many players simply do not have the time to personally manage daily financial tasks due to their arduous training and travel schedules, specific league requirements, and the physical demands of playing an entire season in top form. This reality often forces them to rely on friends, relatives, and others to assist with their finances—a choice that all too often leads to poor decision making, or worse, a combination of misplaced trust and a lack of checks and balances that results in headlines about “rich athletes” being duped or going broke.
Over the years, our team has gained a unique perspective of these complexities and challenges. Working closely with you (the athlete), as well as your agent, attorney, and CPA, we coordinate as much or as little as you and your family require and desire—all in an environment that respects and maintains your privacy. This often starts with simple budgeting, and may carry through to areas such as charitable gifting and due diligence on the multitude of investment opportunities and family requests with which you are constantly bombarded. We employ appropriate checks and balances to help you make the best possible decisions for the long term, and we support our activities with a communication style specifically designed not to interfere with the rigorous requirements of your job. Most of all, when the inevitable occurs and the time comes to end your playing career, we will be here, standing by you and providing counsel, as you head into the next chapter of your life.