Steve Finley was drafted by the Baltimore Orioles in 1987, and turned an initial $600/month salary into a 19-year career in Major League Baseball. After retirement, he realized just how little he'd thought about finances as a player and how underprepared that left him for a long life after baseball. So, he became a financial advisor, and joined up with Morgan Stanley's Global Sports & Entertainment as a sports and entertainment associate, to help teach today’s players best practices for making their money last. Wealth Management recently caught up with Steve to discuss his path from MLB to Morgan Stanley GSE.
Wealth Management: What were your first steps from baseball into financial services?
Steve Finley: For me, 2007 was my last year and I spent a couple of years doing nothing, just surfing and playing golf, etc. I didn’t really know what I wanted to do and I definitely wasn’t thinking about retirement, which was really stupid. At 42, I thought it wasn’t something I had to worry about. I had a friend who had his own company selling insurance and wanted to work with some athletes to encourage them to use insurance as a retirement vehicle and he asked me to come in and help him with some business development. For me it was kind of a way to give back and try to educate athletes on finances—at least as much as I could at that point.