You guys can laugh all you want, but there's a seriously untapped market out there for people with that kind of money and no real *sound* financial advice.
We've been trying to establish several mutual funds for these guys. Believe me, the business ideas they invest in (and by *they* I mean professional athletes), that have zero, and I mean ZERO chance for a payoff. One NBA player we were dealing with was about to drop $10MM on a home builder, in the MIDDLE of the subprime crisis with a gluttony of unsold homes on the market. The guys that have these athlete's ears are not folks that *should* have their ear.
It kind of makes me sick seeing it from the other side. It's really disgusting how professional athetes are treated because they make a ton on the 1st and 15th of the month.
No joke.
