Kevin Pellegrini CEO & managing member of West Pine 43 LLC. They are a registered investment advisor. Financial planning and asset management firm. Their next generation program includes support for college athletes earning income via brand deals. A new rule went into effect and last year was the first full year for it. According to opendorse, 917 million was made by college athletes in 2022 and that number will grow to well over a billion for 2023. Bronny James, Sheuder Sanders and Livy Dunn are the top which all have several million followers on social media and make several million dollars a year. It gives college athletes an opportunity to further their economic future and increase their business acumen while in school.
Pellegrini adds “I went to dinner last year with friends and billionaire entrepreneur Adam Weitsman brought guests Buddy Boeheim and Jimmy. Dynamite kids. They both just finished school and were preparing for the NBA draft. Coach Jim Boeheim, their father, facetimes us to make sure Jimmy ate. Not everyone has coach Boeheim’s championship guidance and resources therefore our firm’s Next Gen. Program extends financial education and learning to college athletes. The goal is to be supportive to this new community by offering a few slots a month for appointments so these rising stars and their families can strategically plan toward their future. For example, a college NIL athlete establishing a roth IRA can potentially set themselves up for early retirement”.
For wealth managers, the NCCA name image likeness (NIL) has created a new place for advisors to educate or help promote learning. For women athletes, it’s created a chance for equal earnings as many females have large followings. For the universities it creates a more attractive offering for student-athletes to attend school and stay full-time Duke, Rutgers, and Arizona State have offered NIL managers to help students with their brand deals. “As the space grows I expect more schools will follow and eventually all. With new industries, there are adoption curves that exist.” Pellegrini adds. A true collaboration between all parties NCAA, universities, wealth managers, and families creates the best environment for the athlete and his/her future.
About West Pine 43 LLC:
West Pine 43 LLC is a Registered Investment Advisor based in New York that offers a full suite of financial planning and asset management services to high net worth, corporate retirement plans, endowments and charitable foundations. The firm core principals include value added investments and financial planning to help its clients.
For more information, please visit www.wpine43.com Advisory services are only offered to clients or prospective clients where West Pine 43 LLC are properly licensed or exempt from licensure. No advice may be rendered by West Pine 43 LLC unless a client service agreement is in place.
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