Former Morgan Stanley Exec’s New Firm Helps Pro Athletes Keep From Going Broke
Stories abound about athletes who go broke despite pulling in millions during their careers. There’s one man who is looking to put an end to that.
In November 2017, Drew Hawkins left his job at Morgan Stanley, “where he was in charge of the elite group of advisors who cater specifically to professional athletes, actors, musicians and other creatives. The division had $35 billion in assets under management and 80 directors around the country,” WealthManagement.com reported. Hawkins had spent 28 years in financial services beginning with Dean Witter Reynolds brokerage firm before joining Morgan Stanley. But after leaving his Morgan Stanley post, Dawkins seemingly disappeared from the industry to spend more time to spend more time with his family. But he told WealthManagement.com that in the long run, golf and “staring at the water” just wasn’t for him.
Now, Hawkins is back with a new company he founded, the financial and lifestyle consultancy Edyoucore Sports & Entertainment, based in Pasadena, Md.
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The company offers two distinct services. “Through college athletic departments, it visits and delivers financial education to student athletes and provides online programs and materials. The company is also in talks with multiple professional sport leagues and player associations to provide similar services,” WealthManagement.com reported.
It also offers educational programming that provides one-on-one consulting to individual athletes and entertainers. “He and his team teach individual clients about relevant financial products and services through their Financial Education Analysis Training (F.E.A.T.) program, coach them on choosing advisors to support them and help them evaluate private investments,” WealthManagement.com reported.
“We don’t manage money, we don’t sell any financial products, and we are not agents,” Hawkins told WealthManagement.com. “We are purely here to empower these individuals.”