Athlete Financier Konni Harrison Gives Giants OL Flowers An Advantage

Over 200 kids are becoming new members of the millionaire club after signing their first NFL contracts, fresh out of the draft. The sad part is, five years down the road, many of this year's crop of NFL rookies, and other journeyman will become broke.

The NFL conducts workshops for rookies every year,  covering topics such as substance abuse, sex education, gambling, domestic violence and personal finance. Whether these workshops work or not is only part of the problem. These Athletes need someone to help  truly manage their money.

On Friday, Armen And Levack talked to KMH Unlimited LLC Konnie Harrison. Konni is a licensed financial professional, who helps athletes and professionals manage their money.

When asked about  New York Giants rookie OL  Ereck Flowers, who will be worth millions, and has his father doing his negotiations for him. Konni told Armen and Levack, it all depends on the situation.

" It depends on what the father does for a living, if he is a big time CEO dealing with and negotiating a lot of contracts then he has a bit more insight as far as the language goes. My concern about this is the attorney that they hire knowing nothing about it, will charge them 100 dollars an hour because that is what the athletes are able to pay now a days . So, he will take a little bit of an advantage, which is if you know the language a good amount and cut to the chase and be able to make a phone call to a third party and tell them, “Hey can you take a look at this, it’ll take you 20 minutes. Let me know what you think.” The ability to go to a third party whether it is a financial advisor, your CPA’s or your attorney is going to make a big difference because you have another set of eyes looking at it. But it’s all going to depend on the language and if Ereck and his father truly, truly understand what the contracts are actually saying and how protected, which is key, they truly are.

With athletes having low financial literacy, it makes them more susceptible to getting scammed or suffering losses in high-risk investments. Hopefully more people like Konni can guide these athletes to a brighter financial future.

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