Sandra Richards outlines Morgan Stanley sports and entertainment division growth to 400 advisors
Updated
Updated · Barron's · May 8
Sandra Richards outlines Morgan Stanley sports and entertainment division growth to 400 advisors
8 articles · Updated · Barron's · May 8
Richards said the specialist roster has risen from 59 in 2018, with more than 70 advisers also registered through Morgan Stanley’s 2020 institutional relationship with the NFL Players Association.
She said athletes and entertainers need tailored wealth advice because of short earning windows, public salaries, cyclical income and growing interest in ownership, equity deals and generational wealth.
Richards, who joined Morgan Stanley in 2007 after the Jackie Robinson Foundation, also called diversity a growth strategy and urged earlier exposure to wealth management careers.
As Wall Street giants battle for athlete wealth, whose strategy will actually protect players from financial ruin?
With NIL creating teenage millionaires, can university programs truly shield them from the financial industry's predatory side?