While he’s not an agent anymore, every young guy should look at Leon Rose. How he set up Iverson’s reebok deal (I believe a ton was put into escrow) is why AI still has money today.

seems reasonable to want a quality agent who can lend experience and expertise

Like, within 10 years of retiring from the NBA after making millions of dollars, players are going broke. You can blame the athlete, maybe their living expenses of course, but they was 18 and 19 years old when they came into wealth. And the people that represented them didn’t help them handle that in no capacity, or care to. You know what I mean?

It’s a two-way street though.

If 18 year old 1st round pick gets his signing bonus and whatnot and dreams of buying luxury shite and dropping hundreds of thousands at the drop of a dime, he ain’t listening to some old manager that’s telling him to worry about his life 20+ years down the road.

Also, IIRC the NBA and NBAPA quite literally have a mandatory multi-day millionaire orientation and financial literacy class they make every rookie take.

Obviously there’s a lot of shady agents out there but at the same time, even the best agent or money manager can’t keep a player from going broke if he’s not willing to control his spending.

I would imagine an agent would recommend that you get a financial advisor. Getting a lawyer and financial advisor should be part of the package all players seek.

Do the players and former players coming out this week just like… never get told what an agent’s job is? Cause there are a TON of people you can hire to help manage your money or plan for the future, but your agent isn’t that dude. They are there to use their connections and contract/negotiation expertise to get you and themselves absolute maximum money and position in whatever deals they negotiate lol, they are not experts in financial stability or how to save your money.

It’s so aggressively outside their scope, and even how they probably HAVE to think about money! This week has been baffling

That’s not an agent’s job. That’s what financial managers are for.

These dudes don’t listen to the advice that’s already being given to them. They make the wrong choice before it’s even a choice: hire a boring financial manager and play the long game, or listen to your friends and family asking for handouts left and right and run out of money before you can even earn interest on it.

It’s a decision these guys make. You’re allowed to say some people are just dumb.

He has a misunderstanding of what agents does for players, he’s looking for a personal manager.

The league gives rookies a crash course, and it’s in an agents best interest for a player they represent to make as much money as possible. Can we stop pretending that professional athletes who ignore the advice of everyone around them and go broke are somehow victims? If you make a hundred million dollars and end up broke one day, there is literally no way you aren’t responsible.

agent and business managers are different jobs. agents help you make money, managers help you keep it, it isn’t the agents job to tell you what to spend your money on

Welcome to adulthood.

Who’s helping they other guys making their living with much less?

This guy’s failure is gonna be special

Who is this content even for? We’ve gotten to a point where media is just millionaires having their dinner party conversations in front of a camera.

Agents have a specific role. They’re not there to manage your finances, balance your budget, or stop you from making bad financial decisions. Their job is to negotiate contracts and opportunities - not babysit your bank account or teach you how to manage money.

So part of an agent’s job is to be a financial advisor as well? Thought their only role is to get the player as much money as possible?

Your agents purpose is to give you your best opportunity. You need a financial advisor for finacial advice, and they shouldd be your 2nd best friend.

There’s more to the interview where he describes why he didn’t use an agent, but the NBPA when he was drafted because they recommended lawyers and money managers to help him with all that.

An agent cant force a player to not spend money

This comment section proves r/NBA have the dumbest fucking people in it.

People who be saying that’s your money and your responsibility are constantly convinced, for some reason, that once a person hits 18, their brain suddenly learns how to finance a future, stops trying to be a kid, and shifts hard right to mortgages, interest rates, APR, taxes and bonds. Like it’s a damn switch.

Same people who be defending Financial Aid practices when they’ve scammed American teens for decades.

They’re kids. I don’t get how people still don’t understand that concept. 18 years old is a guesstimate of adult maturity that anyone with common sense realizes it almost never applies with money.

Good agents, hell, good financial advisors should be aware of that.

I’m 100% with JB on this one.

Will they listen? Put your money into S and P funds, buy an affordable house? Don’t have an entourage? Their friends and family might tell him to fire this agent.

Mods - please start requiring posts to say where a quote or clip came from. This interesting but OP is incredibly lazy not saying where this is from.

The exact reason why charles barkley wants to kill his agent, threatened him in front of camera 😆

Ok but an agent can definitely help you do three out of those four things. 

Whether or not you’ll listen to them isn’t up to them though. Wild for Brown to literally say “if you can’t convince me not to be stupid that’s your fault.“ 

All these guys not only need a good agent but a good financial advisor and lawyer. Especially nowadays with how much side businesses they get involved in. We saw what happened to a lot of athletes involved with the whole FTX/crypto situation. Also helps to surround yourself with a small inner circle of family/friends that aren’t leeches/giving bad advice.

Obviously easier said then done but some of these guys don’t do the bare minimum sometimes.

I mean, is it really the agents job to do what his parents should’ve done? Also, idk about you, but at that age you couldn’t tell me anything. I couldn’t imagine how i would have been with immediately money like that. Also, what responsibilities did their coach have in all of this. If we’re placing blame, that is

Problem is these guys don’t want to listen at 18-19 years old. They want yes men.

Is this guy confusing an agent for a financial advisor?

This is the reason dude got traded. Philly also gonna duck him his next contract and he’ll cry about it too then he’ll wonder how it happened.

Dude is psuedo smart lol

I’m convinced this sub is mostly teenagers with very little life experience. There are A LOT of incredibly stupid takes in here, and I bet most of it is just because Jaylen has been framed as someone who should be hated on now.

He’s not wrong but I don’t understand the point of his comment it’s pretty self-evident. I think the biggest issue is you’re asking 18 and 19 year olds to make a consequential decision that most are not yet ready to make yet nor are their parents.

Your agent is there to get you the bag, not their job to tell you what to do with the bag…

Hire a financial advisor, dont blame your spending habits on the guy who helped you get your money

He isn’t wrong. They should at the very least be setting these guy up with investment help from people they can trust.

Then don’t look for an agent, and don’t look for family either (looking at Uncle Denis). Get educated, it’s the only way.

Makes sense but at the same time you shouldn’t be broke with an average agent. Agents should get your the best possible contract, but are also in the game to make money. If you want someone to maintain your wealth, get a proper financial advisor.

even if you’re stupid enough to blow all your 18 year old money. you get another contract at 23,24. at what point is it your own dumb fault?

It isnt an agent’s job to baby sit you Jaylen. Their job is to represent you and help you gain the maximum amount of money. Building a legacy and keeping what your making your job. Smh.

Is your agent supposed to be your daddy or something?

Lots of regular people waste similar percentages of their money job-to-job. It’s just their career longevity isn’t based on athleticism. I think overall all people need financial advisors acting as a fiduciary. That being said a lot of people hate being told what’s best to do with their money and have to learn it the hard way

it’s like 60% of players within the first 10 years are losing the majority of their wealth.

While this is true I’m going to guess close to 60% of players in the league never get more than a rookie / minimum contract, so it isn’t too surprising.

It’s easy to convince a lottery pick to set some money aside for investments, it’s harder to convince a second rounder making 1.3 million for the first time in his life that there’s a 70% chance he’s not going to sign a second contract in the NBA (only 30% of second rounders ever sign a second deal).

Can only teach them how to fish, but ultimately it’s up to them if they want to fish.

Agents aren’t mentors tho

They could be; but they don’t have to be…

If you legitimately think you can go pro, you should find someone on the college basketball team, or sports related, that’s an accounting major or has accountants as parents.

Networking is more than just other future NBA prospects, it’s also financial advisors, future doctors, future CEOs

Then why you picking up social media clowns from new hampshire and having em in your house? You think they not trying to play the same game?

The biggest takeaway I feel like an agent should be about to do is to influence their client in a positive manner versus just being a yes-man or yes-woman. If you can’t influence your client then your value add is limited…

If there weren’t so many cases of nba player getting ripped off by accountants I would disagree

Jaylen Brown is great at 5th grade economics

Off topic but that beard has to go.

They need someone they trust to explain how the math works in a lifestyle aligned way…I.e., if you want to live off of salary of “x” (let’s say $300k) when you retire, you need your principal to build to a value of “y” (10 million, assuming safe withdrawal rate of 3%).

Until you build up to that principal amount, you cannot touch a dollar beyond necessities. Easier said than done, but this message should be hammered home for these guys…

One of the dumbest mfs alive

Lots of regular people waste similar percentages of their money job-to-job. It’s just their career longevity isn’t based on athleticism. I think overall most people who can would benefit from having financial advisors acting as a fiduciary. That being said a lot of people hate being told what’s best to do with their money and have to learn it the hard way

A lot of these kids are going to get screwed by their lifelong friends and family members. I doubt an agent is going to have the pull to stop that.

An agent and a wealth management advisor are two completely different people. He’s looking for a manger, not an agent. Man Brown you’re not as smart as you think you are bud.

This is a financial planner. Agents aren’t financial planners. Athletes need to get fiduciaries.

Jeru said it, “you work so you can give the devil back his loot, for jewels”. Mentality.

Are people really interested in watching these guys talk about money? Like who are these podcasts for?

Yah, good thing players get to choose their agent then.

Spends A Gorillion / Bazillion dollars.
“It’s my agent’s fault!”

He’s a 100% correct period

Yeah I don’t feel for any athlete making millions or hundred of thousands a year. Try maintaining your ‘wealth’ on 40 - 50k a year.

Makes perfect sense to me. I would expect a lot from someone who is going to make millions of dollars working with me

He ain’t lying 💯