At 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.
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: