Moynes preaches mainly the standard financial-planning tenets: invest for the long term, diversify, don’t try to time the market, don’t sell in a frenzy. He tries to use real-world examples.
Panic on the Bus
Take the Boston Bruins on the night of the 2016 U.S. presidential election. The team was taking a bus to the airport after losing to the Montreal Canadiens when a player grabbed the driver’s microphone and announced that Donald Trump’s victory would send markets into freefall. He urged everyone to dump their stocks immediately.
Along with Brad Marchand, Moynes had two other clients on the team. Each one called or texted him between 11 and 11:30 that night.
“There was a panicked moment on the bus and we all fired off to our financial guys,’’ Marchand recalled. Moynes “gave us the talk, ‘We are in a good position, let’s wait.’’’ Stocks soared the next day and have stayed mostly positive through Trump’s presidency.
Client retention is key to One Sports’s business – and the firm offers various services designed to make sure players stick around. Rick Weiss, an estate-planning specialist, helps with wills, powers of attorney and other documents, tasks that many young athletes tend to ignore.
Weiss spends much of his time texting players reminders to sign the papers he compiles. His biggest challenge is prenuptial agreements. Weiss uses a baseball analogy to describe his success rate. “You know when a batter doesn’t get any hits, they say he’s 0-for? That’s me, 0-for.”
Banking and Yeezy Boots
In March, One Sports added a post-hockey career counseling program headed by Grant Clitsome, whose stint in the NHL was cut short by injury. Clitsome is also meant to be a role model to players who might struggle to adjust to retirement. He’s studying for a master’s degree in business and has become a sommelier and an owner of an artisanal cider brewery.
Shannon Brown handles clients’ banking and provides concierge services, a free add-on. If players want pretty much anything they can contact her. She has searched EBay for Yeezy boots, dispatched an intern to wait in line for hours to get the latest iPhone and purchased numerous Rolex watches.