Client:

This young professional athlete was just signed to a long-term contract. With his hectic training and travel schedule, he had very little time to maintain accurate and organized finances.

Situation:

The Client was in good financial standing but needed help with every day financial management. With no spare time, he was becoming overwhelmed with maintaining his finances. There were new expenses, endorsements, investments, and opportunities. The Client wanted to get organized with software and financial reporting solutions that would show him a “real time snapshot” of his assets. Lack of diligence had led to bad investments.

Solution:

TAG’s initial engagement included the following:

1. Managed all bill payments, credit cards, cash, and other expenses.
2. Managed access cash to be transferred to investment accounts.
3. Implemented accounting procedures to ensure checks and balances.
4. Established big picture monthly financial reports for the Client and his trusted advisors.
5. Establish QuickBooks Online to maintain all accounts and bank reconciliations and provide for Client’s mobile access to his financial data.
6. Establish a documents management site to ensure remote access to important documents by the Client and his trusted advisors.
7. Due Diligence.

Results:

• Banking, service provider, and other fees reduced by 40%.
• Client now spends far less time on finances, and can focus on his team responsibilities and enjoying life.
• Monthly financial package gives the Client peace of mind and facilitates all future investments and projects.
• New software solution gives the Client accurate/timely reports, as well as mobile access to his finances while traveling.

Screening of opportunities reduces odds of fraudulent deals.

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