4/15/2014

Professional athletes can be challenging clients because they "must deal with newfound wealth, brief careers, and fame that attracts parasitic hangers-on," Arden Dale writes. Early on, financial advisors must deal with young athletes "almost as a parent would -- doing a basic budget, coaxing them not to go overboard with flashy purchases, and even overnighting an ATM card to replace one lost while partying."

Related Summaries