Wealth Management for Sports Professionals
A lot of hard work and prep got you here. Your wealth management requires the same focus and attention.
As a professional athlete, managing your wealth involves unique complexities. Fluctuating income, an uncertain career span, and cross-border tax issues complicate financial planning. Collective bargaining changes, lockout protection, and managing pensions and benefits are critical. Endorsements, sponsorships, and post-career opportunities add further layers of complexity. The BMO Sports Advisory Group is here to help us navigate these challenges.
Our team possess a deep understanding of your unique needs and challenges. We will serve as your single point of contact, coordinating a team of experts behind the scenes to support your wealth management objectives.
Our work with athletes, agents, business managers, team owners, and coaches keeps us attuned to the evolving sports industry. This enables us to tailor our strategies to align with the latest trends and regulatory changes. Trust us to provide you with up-to-date insights and guidance, empowering you to confidently navigate the sports landscape.
Leveraging the strength of our partners
Just as you’ve surrounded yourself with the best coaches and advisors, so have we. We bring our best-in-class internal experts to the table, seamlessly integrating them with your external partners. These include BMO’s Business Banking, Commercial Banking and Capital Markets teams, as well as investment, tax, trust and estate, and philanthropic specialists – all of whom have extensive experience in the sports industry.
A career-based approach to wealth management
As you journey through each stage of your career, your priorities shift. We will help you understand and address these evolving priorities so that you can grow and protect your wealth, achieve your goals and secure your future.
Early career
In the early stages of your career, it is important to design a solid wealth plan that will lay the foundation for a successful financial future. From managing endorsements and other income streams to understanding the tax implications of working in more than one country, we help you put all the pieces of the puzzle together.
Peak to late career
As your career progresses, your focus shifts to growing your wealth and may require more sophisticated tax and investment solutions. Our team will work with you to refine your Wealth Plan accordingly and create a strategy that helps you enjoy the lifestyle you’ve earned. During this stage, you may want to lay the groundwork for income opportunities in retirement or explore philanthropic goals.
Post-career and retirement
When your playing career ends, we can help navigate the transition into a new phase of life. We’ll guide you through decisions about your family legacy, planning the transfer of your wealth to your children, and support any entrepreneurial pursuits with Business Banking, Commercial Banking and technology solutions for your post-career business aspirations.