Family Office Founded For Pro Athletes

Posted on 12/21/2023

It is estimated that more than 15% of professional athletes ultimately declare bankruptcy despite their high incomes. Many more avoid bankruptcy but face financial distress. Big spending and a lack of financial planning are usually blamed. A new family office with an unique specialty is opening in California to combat the problem. The firm will cater specifically to professional athletes.

PSALM Capital LLC is a registered investment adviser in Newport Beach. PSALM was founded by Kasey Gaines, a former college athlete and professional wealth manager. According to a statement: “The firm is dedicated to supporting athletes in achieving long-term financial success and security.” PSALM Capital says the family office “is driven by a mission to empower athletes beyond their playing careers. We understand the unique financial challenges they face, and our virtual Family Office model is designed to provide comprehensive support, allowing athletes to focus on their game with the confidence that their financial future is in capable hands.”

PSALM notes the “myriad of financial challenges and opportunities” professional athletes face. Due to a partnership with Opto Investments, PSALM will have private market opportunities for clients who seek them.

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