Brandon Averillage 34
Partner, Athlete Wealth Management Group
- Played minor league baseball
- Reads MLB Trade Rumors daily
- First job was harvesting Christmas trees
Some of Brandon Averill’s athlete clients are household names, such as New York Mets ace Jacob deGrom. Many of them are like Mr. Averill: destined to play a few years in the minors but never make the big leagues.
Regardless of whether his clients make the All-Star team or sit on the bench, Mr. Averill works to ensure that their money plays well for the rest of their lives.
“Our whole mission is to help athletes make wise decisions about their wealth and change the culture of how they’re using that wealth,” said Mr. Averill, a partner at Athlete Wealth Management Group, which has about 120 clients.
Mr. Averill and his brother, Erik, who is his business partner and a former baseball player himself, want their clients to avoid the riches-to-rags journey that many athletes take. They build trust with clients by relating to them as former athletes. Mr. Averill and his brother can tell a player “no” on spending while the rest of his entourage says “yes.”
“They give us the benefit of the doubt,” Mr. Averill said. “We understand the daily lifestyle, some of the pressures they face. It’s somewhat of a fraternity.”
The firm annually signs as clients from five to 10 of the top 50 players selected in the Major League Baseball draft. Players’ careers may take divergent paths and perhaps fall short of making it to the Yankees or Red Sox. But Mr. Averill’s relationship with his clients continues when their playing days are over. He has helped players buy homes and start businesses with their signing bonuses.
Mr. Averill talks with his clients frequently, a minimum of once every two weeks, and often travels to their games. It makes the adviser-client bond something stronger.
“We look at clients as our friends,” he said.
– Mark Schoeff Jr.