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Professional Athlete

 
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Make the most of your lifetime achievements

 

Solutions for Professional AthletesAt Northern Trust, we know that, for many professional athletes, career spans are relatively short. We will work with you and your other advisors to help create a well-designed financial plan to help convert your earnings into a lifetime of financial security for you and your family.

Our experienced professionals have a thorough understanding of the financial issues and challenges you face today – and after your playing days are over. We take the time to listen so that we can provide in-depth insight and experience to meet your specific financial needs.

Norm Greenidge

Norm Greenidge

Managing Director, Professional Athlete Group
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Norm Greenidge

Norm Greenidge

Managing Director, Professional Athlete Group
 
Norm Greenidge is the National Director of Northern Trust's Professional Athlete Group. This program utilizes Northern's core competencies to support the unique wealth management needs of professional athletes. Prior to his current position, he was a Senior Vice President and Managing Director of a wealth advisory team in the Westwood/Los Angeles location. Norm managed a group of professionals who provided a variety of client service activities, including wealth management, banking and trust services to affluent individuals. He started his career at Northern Trust as a Vice President within the Wealth Strategies Group in the Westwood office. He was responsible for marketing Northern’s wealth management, banking and trust services to affluent individuals, families and organizations in Southern California.

Prior to joining Northern Trust in 1996, Norm spent fifteen years with Chase Manhattan Bank. His assignments with Chase included relationship manager duties within the following areas: Wealth Management in Los Angeles, Real Estate Construction Finance in San Francisco, International Commercial Lending in St. Thomas (USVI) and worldwide International Auditing with assignments at 14 overseas locations. Norm successfully completed Chase’s Global Credit Training program.

Norm is NASD Series 7 & 66 licensed and is a registered representative of Northern Trust Global Investments. Norm earned his Bachelor of Arts degree in Marketing from Howard University in Washington, D.C..

Norm is a Board Member of the 100 Black Men of Los Angeles and the UCLA Longevity Center.

Hear from the athletes

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Client Situation

Fresh from signing a large free-agent contract with a new professional team, an athlete came to us for help on many fronts, including relocation to another city. At the time, he owned multiple homes, had limited investment experience and wanted to be certain of a continued income stream once his playing career ended. We also learned he had only a simple will with no trusts or powers of attorney and needed assistance with wealth transfer planning and basic legal protections. 

Customized, integrated solutions

First, we helped the client clarify and prioritize his immediate objectives as well as his goals once he retires from the game. Obviously, he wanted to save enough money from his contract to sustain his lifestyle for the future. We worked with the client to:

  • Establish multiple accounts designated for in-season expenses, off-season expenses and retirement savings
  • Determine the amount necessary to fund each account by running a detailed cash flow analysis
  • Create an investment program focused on the client’s long-term goal of relying on the income generated after the deferred payments ceased
  • Introduce him to a real estate agent accustomed to working with professional athletes and help him secure financing for the new home
  • Arrange to have an estate plan drafted to match his increased wealth
Our financial professionals worked together to help meet the clients’ cash flow needs, investment management and banking requirements. Through the introductions made by his Northern Trust team, the client found a new home and felt confident that his assets were properly titled.

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