Meet the Commercial Director Who Prepares NBA Players for Financial Success

Reggie Jackson, senior vice president of Capital Advisors, didn’t enter the NBA, so instead he helps them maintain their wealth.

Reggie Jackson

Imagine signing a contract for the NBA in your early twenties. You never even had a credit card, and yet you do here $ 7.7 million. Who do you turn to for financial advice? Meet Reggie Jackson, Senior Vice President of Capital Advisors Consulting, a company that provides business and financial management and advice to professional athletes.

Although he started his career in banking, Jackson has been advising NBA players for four years through Capital Advisors Consulting on how to maintain their earned wealth. For players whose careers tend to last around 4.5 years on average, having someone like Jackson is imperative, especially this year.

“It was really difficult. It’s been a unique year in the sense that I normally saw my guys more often than I could with the pandemic. You know everyone had to stay home and we all had to stay home for a long time. And usually I’d go see my guys, review their financial reports, let them know how much they’re spending, how their net worth is growing, ”Jackson said. Value. “But with the pandemic, I haven’t been able to see guys that often. But in the same sense, the fact that they can’t do that much — well, with my guys I can talk to — it kind of slows down their spending… You hate to say something like that. , like a pandemic, has been good, but only as regards the financial aspect, [my] guys are fine. They couldn’t make it through those three months.

When players received a 25% pay cut earlier this year, Capital Advisors Consulting also took one as a show of solidarity.

“In my opinion, it wouldn’t have been fair to make guys pay what we always charge,” Jackson says. “So we’ve done different things to make sure that this one, we stay afloat as a company, and also, with our fiduciary responsibility, we’re also doing the best thing for our customers… I feel like than your reputation [as a firm] is kind of built on good work and how you care about your players. It is therefore always at the forefront of our concerns.

What’s also important at a time like this is planning for long-term success and stability. Asked about it, Jackson recalled a time in his twenties when someone asked him to consider how financially prepared he could be in his forties, if he wasn’t thinking this far yet. This consideration for advanced financial preparation is reflected in her work with her clients.

“We always have a one-year budget for our guys, and then we also have a budget based on their contract. A lot of the guys are on four or five year deals. Thus, we will have a budget for each year, as their income will continue to increase. And we always show, “hey, this is what you actually spend, and this is what we recommend. If you can narrow down some areas and lean a bit more into what we recommend you spend, those limits, then this is where you will be from a long-term viewer perspective. So that’s how we run them for the long haul, and it’s just about continuing to put the information in front of the guys to show them that they’re on the right track. [for] or who they are on track to be in the future.

But what about what Jackson wants for himself in the long run? The 29-year-old is already a very accomplished business and financial director for his players, something he got involved in after his close friend John Wall made it into the NBA. But what does Jackson hope to accomplish in the end?

“My ultimate goal would be to have several players that I have coached from their rookie seasons, until they retire and hopefully enter the Hall of Fame,” said Jackson said. “And continue to grow and inspire other young black people who might not have been able to reach the NBA, because I always wanted to reach the NBA, but I ended up doing 5’9”, and my best friend [John Wall] is 6’4 “. We were [on] the same high school team, he ended up being a little better than me, so he went to the NBA, was their number one pick, and, you know, I was delegated to do the business side of things. But I just want to continue to inspire people who look like me, or just young people in general, who wanted to get into this profession, because we always see [players] dribbling basketball or doing things like that, but you don’t see a lot of people like me on the business side, managing their finances, or, you know, like a rich Paul, being the real agent and stuff. this nature. So I’m doing it right now what’s my dream and my ultimate career goal, it’s just a matter of continuing to grow in this field, and becoming a bigger presence in this space and in this industry, I think, is my real goal. “

Mary H. Martino