Additionally, Advisor Barry Porter of UBS’s Newport Beach office, has earned the Athletes and Entertainers Consultant designation through the UBS Athletes and Entertainers Strategic client segment
Today, UBS announced a partnership with Athletes Soul, a volunteer-based organization that supports athletes as they transition into athletic retirement, to provide financial education, resources and advice for retiring athletes.
With the partnership, UBS will provide financial education through group events as well as personal and online programs to help retiring athletes make informed decisions for themselves, their families and their legacies. To launch the initiative, UBS will host a series of interviews with former professional athletes at the BNP Paribas Open Tennis Tournament in Indian Wells, CA.
Founded by former athletes in 2019, Athletes Soul is focused on providing support for the whole person, and has been instrumental in providing nutritional, physical and mental health and wellness programs to support professional or semi-pro, Olympic and college athletes as they transition away from sports and into new endeavors.
“Our mission is to support athletes as they transition away from sports by raising awareness about the challenges of athletic retirement, and by empowering athletes to develop beyond sports with transition and career coaching,” says former Olympian Myriam Glez, founder and chair of Athletes Soul. “Until now, we have been missing the financial piece of this puzzle, and we are very gratified that UBS sees the value in working with us to provide the wealth management education and advice that will help our athletes make smart financial decisions.”
At the same time, Barry Porter of UBS’s Newport Beach office has gained designation as a certified consultant within the UBS Athletes and Entertainers Strategic segment.
UBS launched its Athletes and Entertainers Strategic Client Segment in 2019 to provide holistic financial advice and guidance to clients across sports and entertainment industries. The segment is led by former professional football player, Adewale (Wale) Ogunleye, who supports a select group of financial advisors dedicated to serving the complex and unique needs of these groups. Barry Porter is one of a select few advisors at the firm that have earned the AEC designation. Barry and his team provide professional sports and entertainment clients with insights and a complete picture of their financial situation, focusing on tax-efficient investing, asset allocation and the transfer of wealth between generations.
“Retiring and professional athletes and entertainers need seasoned and focused experts like Barry who can help them navigate the unknowns and intricate challenges that come with being a highly paid athlete, actor or musician,” said Justin Frame, UBS Market Head for the Pacific Desert market that includes Southern California, Arizona and Hawaii. “We are proud that Barry has received his AEC designation. The value and insight he’s provided over the years to professional athletes and entertainers, alongside his understanding of the industry, will be extremely beneficial to our clients. The Athletes Soul connection will help us educate athletes early in their process of transition and we are looking forward to helping the group expand their programs.”
UBS advisors with the AEC designation meet specific requirements including depth of experience advising clients in the sports and entertainment industries, a commitment to serving the athlete or entertainer in a way that meets them at their current knowledge level, and an extensive training program, which covers everything from atypical income streams to special financial planning circumstances.
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