Constellation Creates Sports Advisor
Constellation Wealth Advisors, an independent multifamily investment
office, has created a special division to deal strictly with
professional athletes and coaches and their unique financial needs.
Included on the advisory board of Constellation Sports Wealth Advisors
are former NFL quarterback Steve Bono, a Constellation principal who
played for several teams, and PGA Tour golfer Joe Ogilvie.
The new division is designed to help ensure that the assets earned
during an athlete's relatively brief playing career are properly managed
to support a financially secure and comfortable post-retirement
lifestyle.
"Planning for the future is not an athlete's current focus, playing the
game is," says Paul Tramontano, co-CEO of Constellation Wealth Advisors
in New York. "Most professional athletes have a limited window of huge
earnings power, early in adulthood, and how they choose to manage it
determines their level of comfort for the remainder of their lives."
Seth Abraham, who brought boxing to the HBO network, was enlisted to
help launch the new sports-focused business and serve on the advisory
board. Abraham was president of HBO Sports and CEO of Time Warner
Sports, as well as president of Cablevision Systems' Madison Square
Garden/Radio City Entertainment, before starting his own firm to help
companies in the sports business develop marketing strategies.
"Money does not come with a game plan," says Jon Goldstein, co-CEO of Constellation Wealth Advisors in the Menlo Park, Calif., office. "We have experienced professionals with expertise in managing the complex needs of professional athletes, so this is a natural extension of our business offering."
Magellan Jets Expands To China
Magellan Jets is expanding its private charter jet service and concierge services to China.
China has relaxed private jet travel regulations and Magellan Jets is entering the new market, starting with the Cultural Educational Charter Services program, which will fly students from China to colleges and universities in the United States and will take care of many of their needs once they touch down, according to Magellan. A representative will help with things such as cultural issues and visa requirements. The representative will help with large purchases, such as automobiles and assist with security needs. OrientSKY will provide logistical and operational support in Asia for Magellan.
Magellan is known as a charter service for gamblers for destinations such as Macau, China, and Las Vegas for customers from Asia. It will soon launch a high rollers and businessman's flight from China.
"This is a great time for us to enter China and we would like to be the trusted source of establishing Chinese students and families," says Magellan Jets CEO Joshua Hebert.
-Karen DeMasters
On The Move
The Institute for Private Investors has appointed Vijay Kumar as director of membership. Based in New York, Kumar will oversee all aspects of membership, focusing on both securing partnerships in the advisor community and working directly with private investors. She was also named to the newly created position of commercial director, North America, for Campden Media, IPI's parent company. Pete Sutherland has joined IPI as associate director of the San Francisco office after serving as a consultant with the company. Sutherland will lead IPI's membership development and expand IPI's market presence in the western United States.
BNY Mellon has hired Sally Rubin as director of its Charitable Gift Services group within its wealth management business. Based in Boston, she will lead the CGS investment team and be responsible for all of the group's relationships. Prior to joining BNY Mellon, Rubin was a vice president and equity partner with Frontier Capital Management.
Genworth Financial Wealth Management, a subsidiary of Genworth Financial Inc., announced the appointment of Myra Rothfeld as chief marketing officer. Reporting to CEO Gurinder Ahluwalia, Rothfeld will lead marketing, brand strategy and product management initiatives in support of the independent financial advisors GFWM serves. Rothfeld has served as a marketing executive for financial institutions including Charles Schwab, Citibank, and Shearson/American Express. Most recently, at Citibank she led the development of a new independent advisor channel to expand solutions for the bank's high-net-worth clients.
-Kathy Lynch