New York, January 24, 2013 — Constellation Wealth Advisors LLC, one of the leading advisory firms in the area of private financial management, and the Preston Robert Tisch Center for Hospitality, Tourism, and Sports Management at the New York University School of Continuing and Professional Studies (NYU-SCPS) today announced a research study to gauge the overall financial health and well-being of athletes in their post-professional athletic careers. The scope of the research will include analyzing the attributes of retired athletes who have had careers in either team or individual sports and will take into account several factors including their financial status and their participation in philanthropic initiatives. The initial findings of the study are expected to be released later in 2013. It is believed to be the only study of its kind to date.
“We are very pleased to be able to work with Constellation Wealth Advisors LLC,” said Robert Boland, academic chair of the NYU-SCPS Tisch Center. “All too often, the media dwells upon the failures of athletes after their professional careers have ended, but there are numerous examples of those who have excelled. We expect that this research will help to define what is needed to ensure post-career success for future generations of athletes.”
“We have seen so many athletes and individuals who are not prepared to deal with the uncertainty of today’s volatile financial environment. As a company that provides services to select athletes, we are very pleased to be able to assist NYU-SCPS in helping to create this index of success,” said Paul Tramontano, co-CEO of Constellation Wealth Advisors LLC. “We think that this type of study will help any athlete, and many individuals, to gain a better understanding of what it takes to be successful on a multitude of fronts once they have retired.”
The research will be based upon publicly available data and will include interviews with former athletes who have achieved success in various categories during the post-career phase of their lives. The information will be evaluated to identify successful patterns and practices. In addition to Constellation Wealth Advisors, a number of independent consultants in various fields will be asked to offer their perspective on the results. The research will culminate in identifying a top group of athletes who will be honored for their overall post-professional success and well-being.
Constellation conceived of the idea for the research project after working with a number of athletes and identifying how certain key attributes, investment practices, and philanthropic involvement helped to provide a solid foundation for success in retirement years. Steve Bono, former quarterback with the San Francisco 49ers and Kansas City Chiefs, and Joe Ogilvie, a touring PGA Professional, are both principals with Constellation and will be among those involved in this project. The project team will be led by Seth Abraham, the former head of HBO Sports and Madison Square Garden Entertainment, who is a longtime personal advisor to a host of athletes and celebrities.
About Constellation Wealth Advisors
Constellation Wealth Advisors LLC is an independent multifamily investment office with an uncompromising commitment to the best interests of our clients. We are committed to long-term relationships with our client families to help them reach and maintain their life goals, and to simplify the inevitable complexities that come with wealth.