Sports Business

What Athletes Should Do When They Experience Financial Pain

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PAIN! Everyone experiences pain in one form or another. Pain comes in many different forms and not all forms are as distinguishable as others.

If you have physical or mental pain, you go to your doctor. Are you able to trust the doctor you go to for medical advice? You would like to think the doctor has the expertise from years and years of experience, so that he/she could help you with your pain, right? You put your trust in your doctor due to the fact he has more knowledge of medicine than you do.

If you have someone who is going to bring you to court, you have legal pain. You therefore consult an attorney and hope that the individual or firm has the expertise from years and years of experience. There are no guarantees you can win your case, but you put your faith in the attorney because he/she has more knowledge of the law than you do.

How often have you had financial pain in the past? Everyone does have financial pain in some form or another or definitely will in the future. Naturally, you would choose to seek advice from a financial advisor who has the expertise through years and years of experience. You would put your trust into that person because he has more knowledge of finances than you do.

One typically has financial pain if he has lost money in an investment, he has paid too much in fees, or he procrastinates and does “nothing” with his funds. Another way to feel financial pain is by not efficiently managing your bookkeeping needs. Most people will get a professional to do this for them, such as Grow Green bookkeeping; regardless, it’s important that bookkeeping is taken seriously. Take a moment and think about whether you or someone you know has “financial pain” and remember, any financial pain is repairable is some form or another.

Disclosures. The information contained herein is neither an offer to sell nor a solicitation of an offer to buy any security. Past performance is not a guarantee of future results. Further, the information herein is intended solely to provide general information and does not constitute a promotion of any offerings or products. Donald J. Kushner is an independent financial advisor with Arque Capital, Ltd., and does business as DK Sports Financial. Arque Capital, Ltd., and DK Sports Financial are unrelated entities. Securities offered through Arque Capital, Ltd. 7501 E. McCormick Parkway, Suite 111 North Court, Scottsdale, AZ 85258. (602) 971-9000. Member FINRA/SIPC. Any unauthorized reproduction of this information is strictly prohibited.

By Darren Heitner

Darren Heitner created Sports Agent Blog as a New Year's Resolution on December 31, 2005. Originally titled, "I Want To Be A Sports Agent," the website was founded with the intention of causing Heitner to learn more about the profession that he wanted to join, meet reputable individuals in the space and force himself to stay on top of the latest news and trends.

Heitner now runs Heitner Legal, P.L.L.C., which is a law firm with many practice areas, including sports law and contract law. Heitner has represented numerous athletes and sports agents as legal counsel. He has also served as an Adjunct Professor at Indiana University Bloomington from 2011-2014, where he created and taught a course titled, Sport Agency Management, which included subjects ranging from NCAA regulations to athlete agent certification and the rules governing the profession. Heitner serves as an Adjunct Professor at the University of Florida Levin College of Law, where he teaches a Sports Law class that includes case law surrounding athlete agents and the NCAA rules.