Rob Welsh - Innovating In Sports
What do Mike Tyson, John Daly, and Allen Iverson share in common, besides being famous (or infamous) athletes? (It’s not a joke. I promise!) At some time in their careers they were all millionaires. Excelling at their craft, they lived the life most of us could only dream of. But there is something else that unites this unlikely bunch. They’ve all filed for bankruptcy. While they may or may have not recovered over time, one has to ask: How did this happen? How do you go from having millions of dollars in your possession to having major debt? In two words: financial planning. Of course, no one expects star athletes to spend their time figuring out how handle their finances instead of perfecting their game. So who does it? Who can an eminent athlete trust to manage their earnings in order to maximize their return? For such endeavor: FFC Capital Ventures, Inc.
Legend Magazine recently had the pleasure to speak with Rob Welsh, CEO of FCC Capital Ventures, Inc. in the Sports Division, in an exclusive interview. Rob shared all about who and what their values as a company are:
LM: Why do athletes need you?
RW - We help athletes keep their money. If a player gets a bonus check of $30k; he needs to know where that money is going and how much of it he should save, spend and or invest. Now, what we do is we help them keep most of their money and help them understand a little more about their financial future. And as of now, we are going through a similar situation with an athlete. Athletes who want to keep their money need us.
LM: How are you different from an agent?
RW - An agent is there to help close business deals from contracts and endorsements. We help athletes keep most of the money they earn and plan appropriately for the future. There’s an example, a player earned a certain amount of money, certain information was not understood by the player. So now, some money that he has saved up, he cannot touch for the next 20 years. No one gave him that information. So that is where we come in and do our job to make sure everything is being told to the player. We research everything down to the smallest detail so that there are no surprises.
LM: How are you innovating the field of finance for sports professionals?
RW - Empowerment through financial education is our objective. Too many players are suffering extreme financial loss after their professional careers are over. We are here to cure that problem for all types of athletes nationwide.
LM: What type of satisfaction does your work give you?
RW - Living in Dallas, married 30+ years, and helping athletes adds so much meaning to my life. Also, meeting people that share the same ideas and values as I do has been a tremendous boost.
LM: Any final thoughts?
RW - At the end of the day, we are helping athletes in achieving their financial dreams.
As New York Times best-selling author David Bach said: “Planning involves more than just setting objectives [...], you have to make sure that your objectives correspond with your own values.” When it comes to helping “those who want to succeed and who have a passion to follow their dreams” no one sets the value bar higher than FFC Capital Ventures, Inc. Sports Division.
BOOK QUOTE SOURCE:
Back David. (2003) 1001 Financial Words You Need to Know. New York, NY: Oxford University Press, Inc. Pg. 138