Why Choose Nelson Sports Division?
When professional athletes end their career, financial trouble often ensues. Approximately 75% of pro athletes find themselves in financial ruins within 3-5 years of retirement. Bad investments, freeloaders, and even unexpected medical bills can result in financial hardships. The shocking statistics place emphasis on the need for wealth management.
Professional sports contracts are complex and managing the large amounts of money associated with these contracts can be overbearing. Everything from the technical aspects and fine print to simple lifestyle choices require significant management decisions.
It is our understanding that athletes need education on wealth management. With large amounts for money comes the inevitable necessity for managing cash flow, budgeting, investing, etc. Lifestyle changes (unexpected or not) demand a sustainable system.
Some questions athletes ask:
- Who can I trust?
- How do I monitor my advisors?
- People are asking me for money, what do I say?
- What do I do if someone approaches me with a business proposition?
- What happens when I’m done playing?
NSD Helps Athlete Clients Manage These Issues During and After Their Playing Days Are Over.
What We Do
Most athletes come from average, working class families that have never needed to consider “wealth management.” We strive to help athletes manage their new found personal and financial success and the responsibilities that follow.
- Sports Mentorship
- Legal Services
- Tax Services
- Financial Services: Personal Planning, Estate Planning, Budgeting, Insurance, Wealth Strategies, Foundation planning
NSD is designed to make the process simple, smooth and sustainable. By changing our perspective and aligning with the client, we create a strong relationship. After we understand the client, we direct our resources to provide needs-based strategies through the use of our personalized planning and wealth management processes.
Our team establishes an investment strategy by selecting appropriate investments and allocating each investment properly.Our Portfolio Management services are a unique tool for those who wish to revise or expand their current investment plan.
After we implement your individually tailored strategy, we agree upon a scheduled review process. Depending on the complexity of your strategy, this would include a monthly review of your portfolio, quarterly phone updates and semi-annual face to face reviews. We will assess any necessary changes or enhancements that need to be made.Each Portfolio is designed by experts to suit the individual goals of each client. This utilizes the benefits of diversification while maintaining the opportunity for returns enhancement through security selection and sector allocations. This ultimately leads to a high quality diversified portfolio
NSD understands an athlete’s busy schedule can leave minimal time to address their personal cash-flow needs. We have specific cash-flow budgeting services that help maintain the needs of the athlete and their family
These services include:
We work with every athlete to create a monthly budget based on discretionary and non-discretionary spending. This necessary service can educate the client as well as increase reserves. We track resources with and customize the budget on a monthly basis, taking into account the spending changes during the off-season.
NET WORTH STATEMENTS:
Our user-friendly technology platform allows our athlete clients to view their personal, updated net worth on a daily basis. Besides easily and accurately tracking your overall net worth, these statements are very useful when applying for financing or in legal matters.
INSURANCE AND ESTATE PLANNING:
NSD is a licensed insurance producer and assists each client in obtaining coverage specific to their individual and family’s needs. Once the plan is established, we continue to monitor and make adjustments, if necessary, as income and various life-events occur that change your coverage needs.