How we work with you

For many years, you have invested hard work, dedication, and perseverance into your athletic career. You are now a member of an elite group who has achieved what many aspire—a professional athletic career. However, many fail to realize the vast challenges and responsibilities you face. And how the decisions you make today will determine your level of success throughout your lifetime.

The unique challenges of the professional athlete

  • Career unpredictability — Although many athletes perform at a high level over the span of two decades, it is critical to plan against the risks of a shortened playing career.
  • Managing spending — Implementing a sound budget is critical when receiving irregular large amounts of income.
  • Tax considerations  Filing a tax return in multiple states, and at times multiple countries, is often cumbersome.
  • Retirement planning  An athlete’s core earning years are typically condensed into several years. However, retirement funding may need to last more than 50 years.
  • Currency exposure  Most athletes are paid in U.S. dollars, yet they may need to hedge against the fluctuations of a foreign currency.
  • Managing real estate  Owning real estate in multiple locations requires proper management and planning.
  • Asset protection  High income and high-net-worth individuals are more likely to be subject to lawsuits.
  • Legacy and charitable endeavors  Professional guidance is needed to help an athlete structure their giving in the most advantageous way.
  • Risk protection  Understanding how to manage appropriate insurance coverage.
  • Proper utilization of debt  Making prudent decisions when using mortgages, lines of credit, and other alternative financing techniques.

Online wealth management system

As an added benefit of working with The McCarthy Wealth Group, our clients receive a personal wealth management home page to consolidate and monitor accounts, assets, and advisors in one location. On your personal home page, you can instantly see the diversification of your entire portfolio, asset values, top five holdings, and a financial snapshot that includes the estimated value of your assets, as well as your liabilities, resulting in your total net worth.

The personal attention from your team, combined with the ability to instantly and continuously monitor your strategic plan, can simplify existing complexities. With your goals as the centerpiece of the process, our global, up-to-date view of your entire financial world helps us review the factors that may impact your ability to achieve your goals.

Our approach

The McCarthy Wealth Group is committed to assisting its athletes and their families during their professional careers and later throughout a meaningful business career. Our approach looks at the unique circumstances that affect you and the decisions you must make throughout each phase of your career.

We understand the responsibilities and stresses that accompany wealth. Our services are designed to help professional athletes reduce these pressures and simplify their lives.

As a client of The McCarthy Wealth Group, you have access to receive the following suite of services:
• Personalized comprehensive wealth planning
• Due diligence on money managers
• Aggregation of financial assets
• Asset protection strategies
• Trust services
• Philanthropic planning
• Independent insurance review
• Customized personal financial website
• Tax considerations
• Estate and legacy planning coordination
• Cash flow management
• Visa and debit card)
• Online banking and bill pay
• Mortgage and credit lending (offered through through third parties)
• Private aviation*
• International tax consulting**
• Health care advisory services

We will act as the quarterback of your financial team, aligning ourselves with you to help ensure the realization of your goals and objectives.

Our experience

We have substantial experience in helping high-net-worth individuals reach their financial goals. Some of our areas of focus include:

• Techniques for asset protection, income stabilization, and estate planning
• Financial strategies for transitioning out of the league and into another career or retirement
• Working with trust attorneys, professional money managers, insurance specialists, and retirement planning specialists to help develop advanced investment plans
• Helping premier players plan for uncertainties of income if a career is unexpectedly cut short

Let's take the next step together

We welcome you to experience the RBC Wealth Management difference yourself. Contact us today to set up a meeting.