Mega-RIA Wealthspire Launches $2.9B Sports and Entertainment Unit

Registered investment advisor Wealthspire has established a new practice, which is focused on tapping into serving clients with a concentration on providing sports and entertainment financial advice. 

The newly launched unit, Wealthspire Sports & Entertainment, serves professional athletes, entertainers, and creators and is led by managing director, head of WSE and co-head of Wealthspire Family Office Frank Marzano. 

Wealthspire Sports & Entertainment has launched with $2.88 billion in assets under management across over 200 high-net-worth clients and financial institutions and includes 20 advisors. 

The firm will act as a vertical of Wealthspire Family Office, utilizing its family office accounting, lifestyle, concierge, bill pay, and wealth capabilities, Wealthspire stated. 

The practice also aims to address challenges across the sports and entertainment industries, including concentrated and variable income, complex contracts and compensation, tax and estate planning considerations, business ventures, real estate, charitable giving and career transitions. 

“Our role is to help clients see the full picture, make informed decisions and build a financial foundation designed to last well beyond their playing or performing careers,” said Marzano. 

Wealthspire’s new division comes as other wealth firms are expanding their services to cater to clients with growing assets across the two industries. 

In July, RIA Americana Partners also launched a division which serves wealthy clients working in the sports and entertainment industries. 

Recently, Wealthspire Advisors’ Ground Control Business Management acquired United Kingdom-based Arena Wealth, marking it the division’s second transaction in the European market. 

New York City-based Wealthspire Advisors oversee more than $600 billion under management across all its subsidiaries in over 40 offices. 

Pictured: Frank Marzano