Four-time Olympian Lauryn Williams said her transition to becoming a financial planner was due to a “necessity” after finding little help in her 10-year athletic career to manage her finances.
Speaking at the Chartered Institute for Securities and Investment’s financial planning conference today (October 6), the American sprinter explained that she interacted with two separate financial advisers who were not providing her with the services she needed. need.
The first financial planner she started working with was focused on sales, she explained.
âHere in America we have people who just focus on investing and they earn a commission for selling these investment products and that’s the kind of guy he was – really focused on how many. money can i get more in my investments, compared to actually, we can let the person figure out [their whole situation]. “
She added: “I know there is a need to look at a person’s financial situation as a whole and have conversations with them about what they can’t see or what they don’t know. and [what] maybe a blind spot.
âSo I moved from that to another person who worked specifically with athletes and I thought he was aware of our fluctuating income and our seasons and all of these different things that are unique to us as athletes,â so it will be better. “
However, instead, this financial planning firm ended up shutting down because there was a scandal about athletes investing their money in a casino, and the casino never opened.
” I was lucky [not to have invested], “she said.” But I wasn’t well looked after there either. So where I really started to get excited about financial planning was that I needed to learn it. more on finances by myself.
Meanwhile, Williams said she asked friends what they were doing about their finances, but found the answers vague and disturbing.
âMy parents instilled in me the importance of education. I got my master’s degree in commerce while competing in sports. I got a real estate license because I was always trying to educate myself, but I didn’t have much confidence in what I would do or be after work because my career ended up being so long.
“So the identity crisis if you will, to figure out what interests me and how do I get into the next thing, [is how my financial planning career began]. “
Williams, who now runs his own company in the United States called Worth Winning, said he discovered a gap in the industry and eventually started his own business focusing on young professionals.
She added, âA google search led me to the certified financial planning course that I blindly enrolled in. When I found the CFP, I had no plans to start my own business at the time, but didn’t know it was brewing.