Wealthspire has launched a new advisory practice, Wealthspire Sports & Entertainment, led by Frank Marzano. This unit, starting with $2.9 billion in assets under management and about 20 advisors, is dedicated to serving the financial needs of athletes and entertainers, particularly in the evolving landscape of name, image, and likeness (NIL) rights.
Marzano highlighted that their current clientele primarily consists of professional athletes, and they are developing an NIL program aimed at educating young athletes. This initiative comes at a time when college athlete compensation is gaining political attention, as seen with recent legislative efforts like the Protect College Sports Act.
Wealthspire, backed by private equity firm Madison Dearborn, manages over $660 billion in assets. The new practice integrates with Wealthspire Family Office, providing clients with comprehensive services, including tax and estate planning, family office accounting, and assistance with complex contracts and business ventures.
Angela Giombetti, CMO of Wealthspire, emphasized the focus on recruitment and growth within this specialized advisory space to enhance service delivery to their clients.
