Athletes have more of an open mind about asset diversification, according to Joe McLean, managing partner of Intersect Capital LLC.
Pro athletes like Tom Brady, LeBron James and Phil Mickelson score millions of dollars in income each year. But just because they’re millionaires doesn’t mean they’re automatically equipped with investment prowess.
That’s where a guy like Joe McLean comes in. McLean is managing partner of Intersect Capital LLC, a wealth management firm based in San Ramon, Calif. Among his clients are about 60 athletes in an array of professional sports.
In reviewing the finances of his wealthy clients in the sports arena, McLean coaches them to put a 10 percent to 15 percent share of their portfolios into commercial real estate sector, but into only one asset category: class-A multifamily.
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