People Moves
US Family Office Nets Deal With Professional Sports Advisor
Flynn Family Office, the multi-family office and business management firm, is intensifying its focus on elite sports players and entertainment professionals by partnering with an executive in the space.
New York-based Flynn Family Office is further strengthening its expertise in the field of sports and entertainment by collaborating with Daniel Sillman, who works with professional athletes.
Sillman is the founder of Compass Management Group, a Michigan-based business and lifestyle management firm for professional athletes. Among other clients, he has advised American footballer Jurrell Casey and basketball player Draymond Green, both professionals in their respective fields.
Sillman will work as an advisor at FFO while maintaining his role as director of new business development at RSE Ventures, a sports, media and entertainment investment company that was co-founded by Miami Dolphins owner Stephen Ross and Matt Higgins.
For Rick Flynn, a managing partner at FFO, the world of sports and entertainment professionals has always been a lucrative wealth management client base. He has previously spoken to Family Wealth Report about how, while these individuals require many of the same services as his firm's other wealthy clients (such as bill pay, book keeping and accounting), they also have some distinct needs. They tend to generate a lifetime of earnings over a short period of time, with their peak earning years typically occurring at a very young age, for example.
Paul Tramontano of Constellation Wealth Advisors also previously said that while athletes are often surrounded by a good support network of family, friends and an agent, “the great majority is guided by the wrong people” when it comes to finances.
FFO is part of the Focus Financial Partners network of independent wealth management firms.