Episode 036: Athletes are often stereotyped as prone to making poor financial decisions. While this perception is unfair, the real problem lies in a lack of financial education. This gap can leave them susceptible to mismanagement and potentially risky financial ventures. Fortunately, with the right tools and support, professional and college athletes can overcome these obstacles and build a legacy of wealth far beyond the playing field.

In this episode of The Connected Advisor, Kyle is joined by Brandon Averill, Partner at AWM Capital and former professional baseball player. They discuss the unique challenges and opportunities in serving professional athletes and their families. He emphasizes the importance of education in managing finances, shares insights on the complexities of athlete taxation, and highlights the impact of the recent NIL legislation on college athletes.

Join us as we discuss:

Key Takeaways

Quotes

"The athlete gets this bad rap like we're this uneducated, blowing money-type situation. We do a terrible job as a country of educating athletes on finances. So, to us, it wasn't an athlete problem. It's an education problem." ~ Brandon Averill

"Money is just a tool. So, you always want to focus on making sure that you're doing the proper things to maximize your wealth, which could ultimately impact your family or the causes you care about." ~ Brandon Averill

"It's unfortunate that most of the wealth, even in sports, is still controlled by brokers in wirehouses. We felt like that wasn't the best way to do it." ~ Brandon Averill 

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