Your performance has led to wealth, but it doesn’t automatically lead to success in the wealth management game. Fortunes are lost every year by uninformed athletes and poor advice from unqualified advisors.
As an NFLPA Registered Player Financial Advisor, Mark Wise has access to resources not available to others in the field. This credential—along with a world-class team of highly trained professionals—enables Wise Financial to better serve the more specialized needs of our professional athlete clients.
WHY DO I NEED A WEALTH MANAGEMENT ADVISOR?
78% of NFL Players face bankruptcy or serious financial stress within 2 years of retirement, and 60% of NBA players face the same issues within 5 years.*
Professional athletes typically get one shot at financial success. Too often, athletes experience the Superman Syndrome, believing a big contract means they’re set for life. But many challenges arise from newfound wealth that can’t be anticipated, such as divorce, injury, and non-contract extensions. We think of these challenges as kryptonite, and help create strategies to plan for them.
You have the opportunity to protect yourself from being another statistic.
WHAT DOES YOUR PROCESS LOOK LIKE?
Not sure where to start? Intimidated by the concept of financial planning? Don’t be.
Research & Analysis
Much like you and your coaches learn as much as you can about an opponent before facing them, we do our own research before entering into a business relationship. We take the time to get to know you on a personal level to better understand what your goals and visions are off the field, as well as any potential roadblocks. Our discovery process not only helps us determine if you’re a good fit for us, but if we’re a good fit for you.
Strategize & Game Plan
Your coaches take the information they’ve gathered and create a game plan specific to your next opponent. We take the information we learned about you and your goals and put together a comprehensive financial plan with recommendations tailored specifically to you, your needs, and your future.
Practice & Execution
You practice these strategies and slowly start to see improvement. You gain confidence, and on game day you are ready to execute to perfection and put into place what you’ve been working on. Similarly, we work with you to begin implementing the specific strategies recommended for your financial future at a pace comfortable to you. The game plan begins to make sense, the big picture becomes clearer, and you are now taking real, tangible steps toward making your incredible visions a reality.
Review & Re-evaluate
Watching film is a great way to look back at each game, evaluate your performance, take away the knowledge you’ve learned, and apply it to the next opportunity. We take this concept and apply it to our process as well, but our “film” sessions are called reviews. We remain in touch with you to review your game plan as frequently as you’d like, ensuring that it evolves with you.
WHAT WOULD MY FINANCIAL PLAN LOOK LIKE?
Below are just a few of the concepts we consider when creating a financial plan:
Investment Strategies
With more ways to invest than ever before, it can be hard to make sure your money is working its hardest for you. That’s why Wise Financial looks at your bigger financial picture. We study the macro trends and developments that shape the investment environment, drive our economy, and ultimately impact portfolio performance to help you get to your goals.
Tax Management
So much of the advice you hear is focused on how much to save and what to invest in. But you should also pay attention to how your savings and investments are taxed, both now and in the future. We team up with your tax advisor to maximize tax-saving opportunities while minimizing tax liabilities. The key to successful tax management is continual (not just yearly) analysis and planning.**
Cash Management
It’s not a matter of what you make, but what you keep. Establishing and monitoring a budget is the key to a secure financial foundation. We don’t tell you how to spend your money, or create a rigid set of numbers with which to adhere. Wise Financial believes in creating framework that helps ensure your money goes toward accomplishing your goals.
Risk Management
With financial success, it’s important to protect your loved ones to ensure your legacy lasts. We’re here to help shield and advise you against highly speculative investments, predatory scams, and any other asset-draining influences that come your way. Every year, we’ll provide a comprehensive review of all your insurance policies to help ensure your family and assets are protected.
Estate Planning
You’ve worked hard your whole life to accomplish your goals and provide for your family. Unfortunately, much of your hard work can come undone if you fail to plan for life’s unexpected turns. Fortunately, we’ll help put into place estate planning strategies, helping ensure that what you have spent a lifetime building and saving will be there for generations to come.
NORTHWESTERN MUTUAL 2015 FORUM SYMPOSIUM
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