WHY?
Overspending: Players often see their income as infinite... like it won't end.
Lack of Finance knowledge: Players need budget strategies...
Trust Issues: Players often don't trust others, not willing to ask or listen to good Tax, Legal & Financial advice.
Poor Investment Strategies & Decisions: Players compete on and off the field. Don't listen to that great investment idea in the locker room that has a 15% return.
Outside Pressure: Players often feel Responsible to Support Their Family, Friends & Extended Family!
Easy Targets: Pro athletes have high visibility, lots of money, and limited financial experience.
0% of XL Sports NFL agency players have ever filed bankruptcy.
What we do:
We sit with our clients and review what expenses they can expect in the future and plan accordingly.
Financial Knowledge: We know most of our clients do not have a Financial & Business Education, so we help. First, you don't need a financial planner until you have money! Once the player has some money, we meet with financial planners along with our clients to make sure the right questions are asked and then go over the meetings afterwards with our clients to be sure they understand what was said. The old saying "Knowledge is King" can't be more true when understanding your money, where it is being invested and why.
Being Involved: At XLSports NFL we are not financial planners, but we know the difference between a good one and a bad one. We also believe professional athlete's should have an independent financial planner not associated with a sports management company. However, we are as involved in the process as our clients wish us to be. In fact, most of our clients have their financial planner's send us copies of their quarterly investment statements to confirm everything is going smoothly with their portfolios.
"When a client can walk away from the game financially secure, we have done our job"
XL Sports
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