How athletes can evaluate a financial adviser
Prepare questions about services, fees, conflicts, custody, and experience with an athlete’s circumstances.
A referral from a teammate can introduce you to an adviser; it does not replace checking the person and firm yourself. Start with the work you need: planning, investments, taxes, legal advice, or business evaluation. One person may not provide all of it.
Verify identity and background
Investor.gov offers a free lookup that connects to registration and background information through IAPD and, where relevant, BrokerCheck. Match the exact individual and firm. Registration is a useful check, not a promise of performance or an endorsement of a recommendation.
Bring a written agenda
- Which services are included, and which require another professional?
- How are you and your firm paid in dollars and percentages?
- Do you receive compensation for recommending this product or partner?
- When are you acting as a fiduciary for me, and will you explain that in writing?
- Where would my assets be held, and how would I obtain independent statements?
- How would we plan around a contract ending or irregular sponsorship income?
Ask for an explanation you can repeat
After a meeting, try explaining the proposal to someone without financial training. What do you own? What can go wrong? What does it cost? How can you exit? If you cannot answer, request a clearer explanation and supporting documents before making a decision.
Compare the scope, not just the headline fee
A quoted fee means little without a service list and any additional charges. Write down meeting cadence, reporting, access to specialists, and which decisions remain yours. Ask how a recommendation would change if you did not buy a product from the firm.
Keep control of the review
Use contact details you verify independently when checking firms or account instructions. Record unanswered questions and ask who will resolve them. A competent review process should leave room for you to understand a decision.
Bring your one-page money picture and any proposed equity agreement. Use the ownership checklist to organize a deal conversation; it is not a substitute for an adviser's analysis.