Sounding Off: Advising Pro-Athletes

Why don’t more professional athletes work with financial advisors? Fear and ego often stand in the way, ex-Steelers and Seahawks player Willie Williams said in a recent video and article. He also talked about how advisors can better serve athletes. The story got some feedback on the website of Accounting Today, which like Financial Planning is owned by SourceMedia. 

John R. (Dick) Power, CFP, of Power Plans in Walpole, Mass. commented:

“Willie Williams was fortunate to have an astute agent who didn't try to control everything and knew to hand off financial planning to someone else. … Breaking into the agent ‘clique’ is the key and they carefully guard their clients to maximize [the agent's] income.”

“Until professional athletes are treated more like real people and less like demigods, this situation will remain the same.  They've been coddled and believe they will be taken care of forever.”

Watch the video and tell us what you think: Super Bowl Star Says Advisors Essential for Athletes

Have you worked with an athlete? How can advisors get athletes as clients and do a better job serving them?