by Pat Freeman
The story of how pro athletes run through thousands, or sometimes millions of dollars by not properly investing their income, and setting up reasonable budget plans is appalling. We hear it over and over again. The recent story of former Alabama running back Trent Richardson’s family running through $1.6 million dollars in 10 months affected Terrence McKelvey in such a way causing him to reach out to me. He said, “Pat I want to prevent this story from becoming repetitious with professional athletes.”
The Partner & Wealth advisor at Stratos Wealth Partners, Ltd. is gaining a strong reputation around the NFL for helping professional athletes build wealth rather than depleting their earnings. He has been chosen in the last couple of years and more recently to do financial seminars for the Buffalo Bills players, many of whom have become his clients. No one wants to be added to the list of athletes that are now broke once their playing days are behind them. The advice that Terrence brings to these young millionaires is the same basic principal that each one of us can begin to apply to ourselves so that we can live comfortably in this ever changing world.
Terrance McKelvey, Partner & Wealth advisor at Stratos Wealth Partners, Ltd.
Bro. Terrance McKelvey is married to model, actress, singer, and dancer Kara Duncan, and is the son of Rubie McKelvey and Terrence D. McKelvey Esq. He along with his three brothers understood that helping people build strong foundations strengthens our community, lessons taught to them by their parents. It is not surprising that Bro. McKelvey is a Life member of Omega Psi Phi Fraternity Inc. whose four cardinal principals form the basis of work for Manhood, Scholarship perseverance, and uplift. These basic principles become the foundation of sound wealth building that he shares with each and every client.
Bro. McKelvey has offices in Beverly Hills, California and Buffalo, New York. He is quickly becoming one of the most sought after financial planners in this country. Bro. Terrance McKelvey states that his goal is to prevent stories like NFL player Trent Richardson from becoming normal; by extending the hand of sound financial advice, and solid planning to these professional athletes, a better future is possible in coming years.
The New Buffalo Bills
Over the last 19 years of covering the Buffalo Bills I’ve seen nine makeovers with the promise that the ultimate goal is to win. Each time it just does not happen, and the organization changes course with the same promise and unfortunately the same result. The new owners Kim and Terry Pegula who have owned the professional hockey team since 2011 seem to desire to win. The question is why they are just not having the success that they envision for their franchises?
The answer I believe is the structure of each team seems be lacking that sport guru who should report to the owner but have complete autonomy over the organization. Coach Sean McDermott has been appointed the football guy with the Bills. The hiring of his guy Brandon Beane solidified the rumor that Terry Pegula has adopted the model in the league whereas the head coach is in charge of the operation of the team with all parties ultimately answering to the desires of the head coach. Believe it or not, as long as this system was what the Pegula’s were looking for, it was only a matter of time before Doug Whaley was out the door.
It just seems to me that I believe the Pegula’s never really believed in Doug Whaley as a football guy capable of running a football operation as a whole. If they did why didn’t they give him a promotion like they have given Russ Brandon? It only seems logical that with the extension should have the authority over football operations like every other general manger in team history. Well they have given this enormous responsibility to Head Coach Sean McDermott who is currently undefeated as a head coach at least until September.
Pat Freeman writes for the Buffalo Criterion. If you enjoy talking about the world of sports tune into the number#1 sports show in the nation every Saturday from 4:00-5:00PM hosted by WUFO Sports Director Patrick Freeman on 1080AM WUFO radio, radio app., Periscope, or via the internet at www.wufoam.com. Or catch Sports Update for clbTV (ch.20 Buffalo) and YouTube.