How I Built a Practice for Professional Athletes

Justin R. HellerAdvisor Perspectives welcomes guest contributions. The views presented here do not necessarily represent those of Advisor Perspectives.

Advising professional athletes is an exciting and rewarding experience. It also presents unique challenges that require a different approach than working with more traditional clients.

To succeed in this niche, be prepared to meet the specific needs of these high-profile clients, build genuine relationships, and provide customized, comprehensive services. Here's a look at the critical components of building a successful practice catering to professional athletes.

Meeting the prospect

The first step is to establish a genuine relationship with the athlete and their decision-makers. This often involves meeting the athlete through a friend, family member, or coach rather than through their agent. By building a relationship separate from the agent, financial advisors can ensure proper checks and balances and demonstrate their loyalty to the client, not the agent.