Constellation Advisors Launches Sports-Focused Planning Practice
- Created: Tuesday, 06 September 2011 07:40
Constellation Wealth Advisors has added pro golfer Joe Ogilvie and event promoter Seth Abraham to its newly created athletic advisory board.
The goal is to get both men to feed their contacts in the sports world to the firm, which already manages about $4.5 billion in client assets.
Co-CEO Paul Tramontano notes that the appeal of going after sports stars is the fact that so many other firms have tried and failed. He's optimistically hoping for "tens" of new clients in this space by 2016 or so.
That said, even a few clients of the level Constellation is aiming at would bring in a lot of cash. The firm targets ultra-high-net-worth accounts above $10 million, with an average somewhere above $40 million.
Former San Francisco 49ers quarterback Steve Bono is already on board running business development at the firm's Menlo Park, California office.
At the time, Bono was brought in to court both professional athletes and Silicon Valley types who might be wowed by his own pro record.
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