Over 78% of professional football players are in financial distress or bankruptcy within 2 years of leaving the sport . . . Over 60% of professional basketball players follow a similar fate within 5 years . . . —Sports Illustrated, May 2009
Flagler Trust's private wealth management and family office practice is ideally suited for Professional Athletes and Celebrities.
The best investment philosophy in the world is meaningless unless one has the discipline and infrastructure in place to instill a sense of frugality. Professional Athletes and Celebrities often make exorbitant amounts of money in a very short, finite period of time. Unfortunately, most are in financial distress or bankruptcy within two years of leaving their professional career.
At Flagler Trust, we understand these challenges and have designed a Family Office platform to assist in managing one of the most important components of wealth preservation, spending. Our confidential bill pay system allows clients to consolidate spending in one central location. A continuous snapshot of their net worth is available via their iPhone or BlackBerry.
The greatest service we provide our clients is helping them establish the right investment philosophy. The only investment approach that stands the test of time is a value investment philosophy; a common sense investment approach established by the late Benjamin Graham and practiced so successfully by the greatest investor of our time, Warren Buffett.
- Family Office
The key to successful wealth management for professional athletes and celebrities is effectively managing a very short lived, finite income stream. At Flagler Trust, we designed a Family Office platform that provides you team of professionals to assist you in managing and building wealth including a dedicated associate to manage the client relationship. Services include confidential bill pay, budgeting, asset management and other financial advisory services as required.
- Confidential Bill Pay Services
The best investment philosophy in the world is meaningless unless one has the discipline and infrastructure in place to instill a sense of frugality. Through our private banking services, we assist clients with confidential bill paying and budgeting, allowing you to enjoy the fruits of your labor today while preserving and building wealth for tomorrow. A continuous financial snapshot is available via their iPhone, BlackBerry or Android.
- Asset Management
One of the greatest services we provide our clients is helping them adapt the right investment philosophy. While there are many investment alternatives, there is only one investment approach that has proven successful across all economic cycles for the last century; a value investment philosophy established by the late Benjamin Graham and practiced by the most successful investor of our time, Warren Buffett. Another unique advantage is our open architecture with the financial stability of the largest independent asset custodian in the world where client and advisor interests are aligned.
- A Message from Dart McCarty
We understand the challenges faced by professional athletes; Dart McCarty, Managing Director of our Sports Management practice, has two sons playing professional soccer, Dax McCarty for the New York Red Bulls and Dustin McCarty for LA Galaxy. According to Dart, "I realize their sports performance is enhanced when they are totally focused mentally on playing the game; there are many distractions for professional athletes today — our goal is to make sure money management and wealth preservation is not one of them".
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