As a new professional athlete, the financial management responsibilities can be overwhelming. Many times, athletes need advice and education on what responsible financial management is all about, including investment management, personal financial responsibility and wealth accumulation and preservation strategies. It is an unfortunate statistic that a majority of professional athletes five years after retiring form their chosen sport, are in financially difficult situations and are not looking forward to a comfortable retirement. I have personal experience in the sports management industry and have seen with my own eyes problems that arise due to the mismanagement of financial assets and former athletes being taken advantage of. This is a fantastic new initiative that the NFL has put in place. When looking to hire a financial advisor is in many regards much like looking to select a quarterback for your new football team. You need to select someone who is looking out for everybody's best interests, has years of experience, and knows how to be calm under pressure.
