|
|
S. Brian Ouellette From Komfie Manalo, Opalesque Asia:
S. Brian Ouellette is a Wall Street veteran with 10 years experience as a money manager with CIBC Oppenheimer and UBS. In March 2009, he read an article in Sports Illustrated which revealed the alarming statistic that 78% of former NFL players are bankrupt or under financial duress within two years of retirement. Additionally, 60% of ex-NBA players are broke within five years of leaving the professional basketball league. The article cited joblessness, divorce, and financial mismanagement as the sources of the “financial pandemic.”
While the article caught Ouellette offguard, it also made him realize that most money management advice given professional athletes was not working. So he decided to do something about it himself “to shift the tide and bring those bankruptcy statistics down to zero,”
In an interview with Opalesque, Ouelette said he spent a year and a half developing a database of professional athletes and agents. The result was Athlete Connect, a service provider that gives access to 6,200 professional athletes and their agents. With another 1,000 European athletes being added in this quarter. With combined annual salaries exceeding $10bn —in 15 different sports. The database was launched in September last year and he markets through Seattle-based Pro Athlete Direct.
On the average, e...................... To view our full article Click here
|
|
RSS
