BEVERLY HILLS, Calif.--(BUSINESS WIRE)--Boston Private, a leading provider of wealth management, trust and private banking services, joined forces with Sports Academy, an all-inclusive sports and fitness facility located in Thousand Oaks, California that is dedicated to creating full-circle athletes of all ages and skill levels, to host an educational session for athletes training for the upcoming NFL Combine.
According to a recent study by the National Bureau of Economic Research, one in six NFL players files for bankruptcy within twelve years of leaving the league—despite earning an average of $3.2 million over their career.1 A 2009 Sports Illustrated study suggests the number is as high as two out of every three players, if serious financial distress is included. Educating athletes early in their careers about the unique world they are about to enter is a good first step to help avoid mistakes. This theme was the focus of the discussion, “What to Expect when you Become a Professional Athlete,” led by Gerald Graves, Executive Managing Director at Boston Private Wealth, who manages its Entertainment Media Sports Division.
“We’ve all heard stories about athletes and money,” said Graves. “Educating this group of disciplined, competitive and successful young men about the world they are poised to enter, the uniqueness of their compensation, and providing basic financial reminders will help them be better prepared for success.” Graves was also joined by current NFL players Akeem Ayers of the Indianapolis Colts and Hayes Pullard of the Jacksonville Jaguars, who shared their experiences with the group.
“Sports Academy employs a Full Circle approach that gives athletes everything they need to be prepared for any physical or mental challenge they may face at the NFL Combine,” said Chad Faulkner, Chief Executive Officer of Sports Academy and co-sponsor of the seminar. “We provide players tools to help them reach their ultimate goal of acing the biggest job interview of their athletic career and become a player in the NFL. We are committed to exposing these young men to the ideas, examples, and education that can help them on the field of life – including this session, focusing on what to expect in their next phase of life.”
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About Boston Private
Boston Private is a leading provider of fully integrated wealth management, trust and private banking services. For more than 25 years, Boston Private has taken a highly personalized approach to serving the complex financial needs of individuals, families, business owners, private partnerships, nonprofits and community partners. Boston Private is also an active provider of financing for affordable housing, first-time homebuyers, economic development, social services, community revitalization and small businesses.
Headquartered in Boston, Boston Private has 35 offices across the U.S. including Boston, San Francisco, San Jose, Los Angeles and Palm Beach. Private banking and trust services are provided through Boston Private Bank & Trust Company. Wealth management services are provided through Boston Private Wealth LLC, an SEC registered investment adviser and a wholly owned subsidiary of Boston Private Bank & Trust Company.
Boston Private Bank & Trust Company is a subsidiary of Boston Private Financial Holdings, Inc. (NASDAQ: BPFH). For more information, visit www.bostonprivate.com
About Sports Academy
Sports Academy is the only fully integrated, multi-disciplinary athletic training campus on the west coast, specializing in training athletes of all ages and ability levels to perform at their optimal state. By combining sports skill and performance training assets with full medical and recovery capabilities, state-of-the-art technology (Biomechanics Lab, Mindset Lab) and the most accomplished coaches, trainers and service providers, Sports Academy has forever changed how any athlete gets better with their Full Circle Training methodology. For more information, please visit http://sportsacademy.us
*1 Source: National Bureau of Economic Research, Bankruptcy Rates among NFL Players with Short-Lived Income Spikes, April 2015