8legs: Morgan stanley wealth management

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How Sandra L. Richards Is Rewriting The Wealth Playbook For Athletes In Today’s Economy

Richards leads Morgan Stanley’s Global Sports & Entertainment unit, helping athletes convert short-term earnings into long-term wealth and ownership.
The article notes that many athletes face financial stress and bankruptcy risk within years after retirement, underscoring the need for wealth planning.
Richards emphasizes ownership and personal accountability, urging clients to act as the CEOs of their own lives.
The feature highlights the importance of early preparation for life after sports through internships, mentorships, and education.
Access to information and networks is identified as a key limiter preventing wealth transformation for athletes and similar high-earners.
The article frames the wealth playbook as relevant beyond sports, addressing a broader millennial challenge of securing durable wealth.
The piece illustrates how athletes can evolve into owners to leverage their platforms for greater control.
Richards shares a case where an athlete used an internship while still playing to shape post-career opportunities.
The article notes the variability of career length across major sports and its impact on earnings stability.
The piece highlights the role of mentors in opening doors to opportunities beyond athletics.
Richards argues that early career decisions should align with longer-term visions and values.

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