Services covered by wealth consultancy for sportspeople
At Sterna we take representing our clients before third parties extremely seriously, with the aim of supporting them throughout their professional career.
Professional sportspeople have a short working lifespan. As a result, when they are 35 years old, it is as though they were 70, because their working life is short. “They do not have the time or expertise to manage their assets. There are many athletes who earn a lot at the age of 18, but they can end up ruined”.
The investment profile of this type of client should “be conservative and short and medium-term”, with full, updated information which they can consult at any time from anywhere, because they do not have time to go to a normal branch or do any other kind of business, as being very well-known can be a problem at times.
We have a capable team of professionals, including some high-level ex-sportspeople like Juancho Perez, a world handball champion who took part in 3 Olympic Games. They understand and identify with the situations a professional sportsperson may be faced with, advising them at all times on the best way to act so that their career continues to make good progress.
Integral Wealth Management Services
Sterna offers an extremely complete wealth advisory service in all the areas that affect the correct management of assets.
Of all of these, we specialize in real estate and investment consultancy, the creation of efficient asset structures, taxation and legality, inheritances and estates and wills and insurance. The professional lifespan of any sportsman or woman, and in particular of football players, is limited to a maximum of 10 or 15 years. Top athletes earn a great deal of money when they are active but many realize that this income is not everlasting and they need to make provisions for the future, when this income declines.
Athletes use several different savings and investment strategies.
It is very frequent, or one could even say generalised, whilst they are still active, for them to set up some kind of company through which they manage the income which does not come from their signing but from other activities outside the field of sport such as – in most cases – advertising.
They make their investments through these companies, among others in the real estate sector, for example purchasing premises, residences and plots of land to be put to use later.
At present, it is extremely frequent to find the money earned being invested in financial real estate assets and to do so, they must have access to advice from independent experts.
In general these products should be low-risk and have an acceptable return, as they are looking for a safe investment to preserve their capital.
As well as these two types of investment, financial investment based on good advice provided by institutions or experts, and real estate, there is another, extremely varied range of investments available.
Some sportspeople not only invest their money well, but in time, after they have given up their sports career, they dedicate themselves to advising their former fellow athletes through their own companies or as employees of other firms specializing in wealth management.
The experts who usually deal with this type of clients / sportspeople explain that, “because they are young and have little time, and because things are changing, they increasingly seek out professional advice, as these assets are in themselves firms which need to have a management company at their service.”