Professional Athletes

CFO and Family Officer for Professional Athletes

Professional athletes spend the majority of their careers planning. They plan workout schedules, training sessions, even the calories they consume. During a game, they work with the coach to formulate the best plan against the opposing team. And they plan to prevent or overcome potential setbacks such as injuries. Their careers allow them to acquire all of the necessary skills they need to tackle their financial futures in ways that non-athletes may not know.

Professional athletes learn to overcome setbacks, problem-solving, goal attaining and all the strategizing that goes into it, initiative, and teamwork.

Sports

planning services

planning services
Dias Wealth offers its professional athlete clients a full range of tax, financial, and estate planning services such as tax preparation, fee-based consulting, asset protection and debt management. Potential solutions can include establishment of foundations and other philanthropic entities to accomplish charitable objectives, wealth preservation plans or pro-active tax planning. Dias Wealth works with a professional athletes team including agent, accountant, attorney, and business manager in the following sports:

Professional Athletes

3 levels of
financial failure

Based on our previous experiences, the 3 levels of financial failure for professional athletes are:

  • Education: Not doing research or learning more in order to ask appropriate questions about their finances
  • Laziness: Not applying information learned or potential warning signs on the financial advisors they're working with
  • Ignorance and/or Arrogance: Choosing a financial advisor based on another teammate's recommendation, ignoring previous complaints and lawsuits, and not researching their background

phases

Phases

Three phases of an
Athlete's Life

Sports
career
  • How much I need to save from my contract salary?
  • Should I contribute to a retirement plan?
  • Can I maintain my lifestyle while saving?

Growth allocation Key Metrics:
  • Savings
  • Spending
  • Investment risk

Post-Sports
career
  • How much do I need to earn to meet my spending needs?
  • When can I stop working?
  • How much risk in the markets do I need to take to reach my goals?

Growth allocation Key Metrics:
  • Second career salary
  • Spending
  • Investment risk

Retirement
  • How much can I spend with a high level of confidence?
  • Is my retirement income enough?
  • Should I take less risk now that I am fully retired?

Growth allocation Key Metrics:
  • Retirement incom
  • Spending
  • Investment risk

Difference

Difference

Dias Wealth Difference
Current Financial Advisor
The majority of financial advisors working with professional athletes are often no more than glorified salespeople. Although they may call themselves “fiduciaries,” their licenses and affiliations say otherwise as most financial advisors are affiliated with a bank, broker-dealer, or insurance company which creates a conflict of interest. Professional athletes often lack the advanced knowledge to ask the appropriate questions and will end up paying higher fees, unnecessary commissions, are sold illiquid investments, and possibly scammed.

Current Financial Advisor

Fiduciary

No

Yes

Transparent about Compensation

No

Yes

Registered Investment Advisor

Maybe

Yes

Broker or Registered Representative

Yes

No

Captive Insurance Agent

Yes

No

NETWORK

family office

EXTENSIVE NETWORK OF PROFESSIONALS.

As a true fiduciary, Dias Wealth is upfront about compensation and has an
extensive network of professionals including:

Investing

  • Portfolio Managers
  • Asset Managers
  • Alternative Investments

Investing

professional services

  • budgeting & debt management
  • attorneys
  • accountants
  • banking
  • educations & speaking

professional
services

Concierge Services

  • Fitness
  • Nutrition
  • Wellness
  • Media & Branding
  • Personal Coaching

Concierge
Services

business services

  • Defined benefit pension plans
  • solo 401(K)
  • budgeting & expense management
  • corporation establishment
  • third-party administrators (tPAs)

business
services

Dias financial insurance

  • annuities
  • life insurance
  • disability
  • long-term care

Dias financial
insurance

MarketWatch article

Read about why NFL players shouldn't rely on just THE

NFL Players Association’s list of approved financial advisors

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