The NBA’s Richest Players Trust This Man to Manage Their Wealth
The "Times" describes Joe McLean as "the money whisperer to the super-rich NBA elite"
In February of this year, Joe McLean closed on four houses.
While that would be more than a lifetime’s worth of home closings for an average person, that’s just another month at the office for McLean.
The 45-year-old manages assets for some of the NBA’s best players, which means he routinely buys cars, pools and pool tables as well as schedules customization appointments and maintenance work for the assets of his clients. The goal McLean has for the athletes he works with is for them to achieve long-term financial stability and avoid the financial pitfalls pro athletes with a lot of money and no clue what to do with it sometimes fall into.
McLean, who The New York Times describes as “the premier wealth manager of the NBA elite,” requires that his clients put aside at least 60 percent of every dollar they earn. If the player lands a lucrative long-term deal, they are required to put aside 80 percent of their earnings.
And McLean, who counts Klay Thompson of the Warriors, Hassan Whiteside of the Heat, Nikola Vucevic of the Magic and others as clients, takes his rule seriously — he’s severed ties with two players who failed to follow the policy.
“Mr. McLean doesn’t negotiate his clients’ deals — he’s not an agent,” according to The Times. “His job is to grow every dollar that comes in and track every dollar that goes out. He’s part investor, part butler, a C.F.O. and a golf buddy, a sports therapist and, when necessary, the disapproving dad.”
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