Last time, we discussed how to find a sports agent who has the expertise and experience for your situation that can advocate for you in contract negotiations and representation. 

This week, we continue the conversation to help you finish building out a trusted team that can help you navigate the biggest financial decision of your life by finding the right financial team for you.

As an athlete, you would take the time to research and find the best medical professional to help you deal with an injury. You should do the same when it comes to managing your wealth. To do that well, it’s important to understand some basic concepts of the financial advisor world to be able to take responsibility in this decision and own your wealth.

During this episode, we discuss topics and questions such as:

• What are the unique issues a draft family will face from a financial perspective?
• When should you begin searching for your financial team?
• What are the biggest financial mistakes draft families make?
• What is the difference between a financial advisor and a certified financial planner? What is the difference between a broker/dealer and a registered investment advisor?
• How can you ensure that the team you’re hiring has the experience and expertise to handle your wealth?
• What beyond investing should your financial team help to manage?
• What are the key questions you should ask while searching for a team to handle your wealth?

Listen to episode 4 for answers to these questions and more.

More from the MLB Draft Podcast:

• Episode 1: The Draft Opportunity
• Episode 2: What's My Number?
• Episode 3: Selecting the Right Sports Agent
• Episode 5: Tyler Beede on Navigating the Draft and Your Baseball Career
• Episode 6: Eric Chenowith on Do I Need Disability Insurance?
• Episode 7: How is Your Signing Bonus Taxed?