.CHRIS EVERT:
Hi, I'm Chris Evert. Welcome to Episode 5 of What Moves You, an audio miniseries from Morgan Stanley in support of the WTA. Over the past few episodes with Morgan Stanley Private Wealth Advisor Nadine Wong, we've covered a lot of questions about money that come up for players over the course of a career.
NADINE WONG:
Hi, I'm Nadine Wong. I'm a Morgan Stanley Private Wealth Advisor and a Global Sports and Entertainment Director. I specialize in serving the unique and complex needs of professional athletes and entertainers.
There's so much to think about when you're playing tennis, and you have coaches and trainers who help you play your best. So it only makes sense that off the court, you need the same kind of support for things like your finances.
NADINE WONG:
There are so many people who support you as a player - family, coaches, fitness trainers. A reliable financial advisor can be another valuable member of your team.
You hire a coach to improve your tennis performance and strategy. You can do the same thing when hiring a professional to take care of your financial well-being and performance. A certified and well-qualified financial advisor can help you navigate the markets. They will help you to evaluate your financial situation in the context of the larger market, and offer solutions to help you manage your wealth no matter what comes your way!
Once you start finding success and making money, you want to make sure you’re working with someone you trust. So how do you find this person?
One of the best places to start is in your own circles. Ask teammates, coaches, and former athletes you trust for referrals. Make note of the names that come with glowing recommendations.
Next, you want to do your own research because knowledge is power. Just like looking for a doctor, there are websites where you can look up a professional history of a broker or Financial Advisor and make sure they are qualified and properly licensed.
Then, pick at least 2 or 3 advisors to interview. This relationship will become an important partnership -- so ask them questions, discuss your goals, and hire the person that feels like the best fit for you.
And as your athletic career grows, you may want to add other people to your team to help with these kinds of decisions. People like agents, attorneys, business managers or even publicists.
And like I said before, knowledge is power. Inform yourself about your finances. You use your physical power on the court with every swing, and ultimately you want to use that knowledge, use that power off the court, to improve your finances. You don’t take shortcuts off your game, so don’t take shortcuts off the court either. You know what it takes to succeed.
CHRIS EVERT:
I'm Chris Evert. This is What Moves You, an audio series from Morgan Stanley in support of the Women's Tennis Association. We hope this series is a source of guidance and reassurance as you navigate your financial life off the tennis court, so that when you're on the court, you can focus on your game without external stressors or distractions.
Thanks for listening.
This material has been prepared for educational purposes only. It does not provide individually tailored investment advice. It has been prepared without regard to the individual financial circumstances and objectives of persons who receive it. Morgan Stanley Smith Barney LLC (“Morgan Stanley”) recommends that investors independently evaluate particular investments and strategies, and encourages investors to seek the advice of a Financial Advisor. The appropriateness of a particular investment or strategy will depend on an investor’s individual circumstances and objectives.
Diversification does not guarantee a profit or protect against loss in a declining financial market.
Bonds are subject to interest rate risk. When interest rates rise, bond prices fall; generally the longer a bond's maturity, the more sensitive it is to this risk. Bonds may also be subject to call risk, which is the risk that the issuer will redeem the debt at its option, fully or partially, before the scheduled maturity date. The market value of debt instruments may fluctuate, and proceeds from sales prior to maturity may be more or less than the amount originally invested or the maturity value due to changes in market conditions or changes in the credit quality of the issuer. Bonds are subject to the credit risk of the issuer. This is the risk that the issuer might be unable to make interest and/or principal payments on a timely basis. Bonds are also subject to reinvestment risk, which is the risk that principal and/or interest payments from a given investment may be reinvested at a lower interest rate.
Equity securities may fluctuate in response to news on companies, industries, market conditions and general economic environment. Companies paying dividends can reduce or stop payouts at any time.
Check the background of Our Firm and Investment Professionals on FINRA's BrokerCheck.
NOT ALL PRODUCTS AND SERVICES ARE AVAILABLE IN ALL COUNTRIES OR JURISDICTIONS.
Morgan Stanley is not affiliated with the WTA.
Morgan Stanley Smith Barney LLC (“Morgan Stanley”), its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for matters involving trust and estate planning, charitable giving, philanthropic planning and other legal matters.
Morgan Stanley Global Sports & Entertainment is a highly specialized wealth management division, dedicated to serving the unique and complex needs of athletes, entertainers, creators and top professionals in the sports and entertainment industry.
Morgan Stanley Smith Barney LLC is a registered Broker/Dealer, Member SIPC, and not a bank. Where appropriate, Morgan Stanley Smith Barney LLC has entered into arrangements with banks and other third parties to assist in offering certain banking related products and services.
Investment, insurance and annuity products offered through Morgan Stanley Smith Barney LLC are: NOT FDIC INSURED | MAY LOSE VALUE | NOT BANK GUARANTEED | NOT A BANK DEPOSIT | NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY
© 2024 Morgan Stanley Smith Barney LLC. Member SIPC. CRC #3653646 06/2024
