They should, but they won't...I figure it's a sort of crony "you scratch my back, I'll scratch yours" between agents and the advisors...Probably some nice kickback money in there as well...After all, a good portion of the jobs in our economy nowadays are these Financial Advisors that live off of the percentages...Sure, the robo advisor could do the job, but once again we're talking about another sector of the F.I.R.E. economy that would be eliminated.
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Mark Sanchez and others lose 30 mill in a Ponzi
- Thread starter Pekelo
- Start date
They should, but they won't...I figure it's a sort of crony "you scratch my back, I'll scratch yours" between agents and the advisors...Probably some nice kickback money in there as well...After all, a good portion of the jobs in our economy nowadays are these Financial Advisors that live off of the percentages...Sure, the robo advisor could do the job, but once again we're talking about another sector of the F.I.R.E. economy that would be eliminated.
Easy pickings most professional athletes are unsophisticated regarding their finances and Jake Peavy may soon be out of a job to boot....
I'd be curious to know who manages Bieber's finances...He seems to hang around with the worst of the worst, you'd have to imagine that he probably has some shady guys doing deals for him as well.
I don't fully understand how all that works. So do these football players just hand over lump sums of cash to a manager without any knowledge of what's being taken out of the account? It just sounds ludicrous that a player could authorize $100k to go into an investment but then get millions taken out of his account without any knowledge whatsoever for years and years.
Well the big guys approach the players saying they can get X amount return on their money ...of course these players are making bank and bonuses and signing contracts with Nike and Gatorade... So they are like take my $2.5 million and put it to work...they aren't even paying attention to where their money is going....that's why alot of these guys in the end have nothing...
People running NFLPA would not get rich that way.The NFLPA should partner up with and recommend a low cost shop(s) like Vanguard/Fido and have a robo advisor index them.
I will guarantee that over time, 97 out of 100 players that did that would out-perform the guys who try to start businesses and invest with hedge funds.