WEBVTT NOTE This file was generated by Descript 00:00:19.758 --> 00:00:21.078 Riccardo Stewart: Hey, I wanna welcome you back to another 00:00:21.078 --> 00:00:24.048 episode of the A-W-M-N-F-L podcast. 00:00:24.048 --> 00:00:25.308 My name is Ricardo Stewart. 00:00:25.578 --> 00:00:29.658 I have the pleasure of being your host and I'm joined with my friends and coworkers. 00:00:29.898 --> 00:00:34.518 Um, on this, on this podcast, we have over 20 years of NFL experience 00:00:34.518 --> 00:00:36.558 as well as financial expertise. 00:00:36.558 --> 00:00:39.468 We got Jeff Locke, who we call the professor Zach Miller, who 00:00:39.468 --> 00:00:43.428 we called the Truth, and then Sam Acho, who we call the mayor Fellas. 00:00:44.283 --> 00:00:48.003 Today, I wanna start maybe a three-part episode and we'll just 00:00:48.003 --> 00:00:52.233 do part one today and and talking about what it is that we do with our 00:00:52.233 --> 00:00:52.833 Clients 00:00:52.923 --> 00:00:56.103 And we'd like to say, and we don't hear anybody else saying this, especially as 00:00:56.103 --> 00:01:00.063 the only family office that's working with athletes, is that we take a 00:01:00.063 --> 00:01:04.323 human-centered approach and, and when it comes to investing, when it comes 00:01:04.323 --> 00:01:04.863 to serving. 00:01:04.863 --> 00:01:05.463 our clients. 00:01:05.463 --> 00:01:08.403 And I wanna wanna break down what does that mean and how do 00:01:08.403 --> 00:01:10.383 you begin to even have a plan? 00:01:10.953 --> 00:01:12.483 To have a human-centered approach. 00:01:12.483 --> 00:01:15.033 And so I'm gonna start first with you, Sam, put you on the spot. 00:01:15.033 --> 00:01:19.953 Just real quick, when you hear the phrase a human-centered approach, what? 00:01:19.953 --> 00:01:20.733 What do you hear? 00:01:21.472 --> 00:01:22.402 Sam Acho: I hear 00:01:22.746 --> 00:01:22.866 a 00:01:22.866 --> 00:01:25.146 group of people that takes out the robotics 00:01:25.146 --> 00:01:25.836 from 00:01:25.956 --> 00:01:26.976 relationships. 00:01:27.426 --> 00:01:29.946 Oftentimes, whether you're a football player 00:01:29.951 --> 00:01:31.351 collegiately professionally. 00:01:32.511 --> 00:01:32.721 You 00:01:32.721 --> 00:01:33.351 see people 00:01:33.351 --> 00:01:36.021 who, they say they care about you, but they don't actually care 00:01:36.021 --> 00:01:36.291 about 00:01:36.291 --> 00:01:36.651 you. 00:01:37.011 --> 00:01:37.551 So when I hear 00:01:37.551 --> 00:01:38.781 someone leading with 00:01:38.781 --> 00:01:39.801 human centered, 00:01:39.981 --> 00:01:42.861 it means they're gonna care about me on the field. 00:01:43.161 --> 00:01:44.301 They're gonna care about me as a 00:01:44.301 --> 00:01:44.871 Husband 00:01:44.871 --> 00:01:46.341 as a father, as a leader in 00:01:46.341 --> 00:01:47.121 the community, 00:01:47.571 --> 00:01:50.211 And they're not just gonna try and segment me into one piece. 00:01:50.211 --> 00:01:50.421 or Parcel 00:01:52.116 --> 00:01:52.696 Riccardo Stewart: that's good. 00:01:52.896 --> 00:01:55.341 I, I think about, I think about some of the athletes we've talked 00:01:55.341 --> 00:01:57.741 to and some of the, some of the men we work with and their families. 00:01:58.071 --> 00:02:00.681 It's that many of them, they, they've been a part of some 00:02:00.681 --> 00:02:02.871 other organization and they were 00:02:02.871 --> 00:02:03.441 given. 00:02:03.441 --> 00:02:04.581 here's what you should Invest 00:02:04.581 --> 00:02:04.851 in. 00:02:05.091 --> 00:02:06.081 Um, here's where your money 00:02:06.081 --> 00:02:06.741 should go. 00:02:06.921 --> 00:02:09.471 And, and they find that themselves. 00:02:09.621 --> 00:02:13.221 They get to a point where now they got 40, 50, 70, 80 million guaranteed 00:02:13.221 --> 00:02:15.261 contracts, and they're going, those same 00:02:15.261 --> 00:02:15.711 People are 00:02:15.711 --> 00:02:18.861 saying, here's what you should do with your money, but never asking them 00:02:18.861 --> 00:02:20.301 about the life that they wanna live. 00:02:20.841 --> 00:02:21.741 And when we begin to 00:02:21.741 --> 00:02:22.281 talk about 00:02:22.281 --> 00:02:23.391 a human-centered approach, 00:02:23.571 --> 00:02:25.911 it's really saying, let's put the human, let's start first 00:02:25.911 --> 00:02:27.231 with going, who's the human? 00:02:27.621 --> 00:02:28.731 Who is the athlete? 00:02:28.851 --> 00:02:30.291 Um, does he have a family? 00:02:30.561 --> 00:02:31.851 What does he want? 00:02:31.851 --> 00:02:33.531 What does he wish to have one day? 00:02:33.531 --> 00:02:34.491 What does he need? 00:02:34.731 --> 00:02:39.531 What life does he have envision And once you're able to really, really find those 00:02:39.531 --> 00:02:45.891 things out, now you can, you can take his wealth and align it to his priorities 00:02:46.341 --> 00:02:48.321 and keeping the human at the center. 00:02:48.501 --> 00:02:51.771 And so as we step back and talk more about what that looks like, 00:02:51.771 --> 00:02:52.971 let's, let's boil it down and go on. 00:02:53.241 --> 00:02:55.701 Before you can even talking about investing. 00:02:56.136 --> 00:02:59.976 You have to get to know the human and what we call this priorities is that 00:02:59.976 --> 00:03:04.656 we sit down with, with someone who's made a hundred million dollars and 00:03:04.656 --> 00:03:08.916 going, let's first start first and let's look at your priorities and break it 00:03:08.916 --> 00:03:11.106 down into easy language, right Needs. 00:03:11.796 --> 00:03:13.446 Wants and wishes. 00:03:13.656 --> 00:03:16.836 And so I'm gonna kick it to you guys to talk more about what does that look 00:03:16.836 --> 00:03:21.156 like and have in mind thinking about somebody, um, that has already had 00:03:21.156 --> 00:03:24.276 an advisor, has already made money, has already been in the NFL, we're 00:03:24.276 --> 00:03:29.766 talking a five year plus vet, made over 50, 60, 80 million in their career. 00:03:29.856 --> 00:03:32.076 And they're sitting down and they're going, okay, this human centered 00:03:32.076 --> 00:03:33.816 approach, these needs, wants, wishes. 00:03:34.026 --> 00:03:35.106 What does that even mean? 00:03:35.106 --> 00:03:36.786 And so, Jeff, I'm gonna start with you first. 00:03:37.506 --> 00:03:40.857 What are needs and, and why are they important to the athlete 00:03:42.381 --> 00:03:44.481 Jeff Locke: Yeah, needs are probably what you think they are. 00:03:44.481 --> 00:03:47.661 They're the things that have to happen no matter what happens with 00:03:47.661 --> 00:03:49.371 your preferences or your values. 00:03:49.371 --> 00:03:53.181 Over time, your life is gonna change, evolve as you get older, right? 00:03:53.181 --> 00:03:57.021 Certain things are gonna change, but the needs are the things that gotta happen. 00:03:57.081 --> 00:03:59.901 The first one I always think about is, unfortunately we 00:03:59.901 --> 00:04:01.401 gotta pay the tax man, right? 00:04:01.401 --> 00:04:05.601 So your strategy is gonna call for having some taxes withheld from your paychecks, 00:04:05.601 --> 00:04:10.431 but you might be making huge payments if you're set up correctly every April. 00:04:11.061 --> 00:04:12.771 So you got that. 00:04:12.861 --> 00:04:15.951 Then I think roof over my head, right? 00:04:16.281 --> 00:04:19.491 I gotta have a place to live, the costs to support me and my 00:04:19.491 --> 00:04:20.781 immediate family where we live. 00:04:21.171 --> 00:04:24.621 And then just the costs of the basics, right? 00:04:24.621 --> 00:04:26.781 The fixed costs, the things that you gotta have. 00:04:27.201 --> 00:04:29.871 Gotta have the food, you know, you gotta pay for the kids' 00:04:29.871 --> 00:04:34.551 education, the things you actually need to happen no matter what. 00:04:34.851 --> 00:04:38.511 And it's extremely important to get those set first, because then that 00:04:39.111 --> 00:04:43.641 tells your team and tells your plan, now I got all this extra money, 00:04:43.641 --> 00:04:47.181 all these extra resources to put towards the other two categories, 00:04:47.391 --> 00:04:48.471 which these guys will talk about. 00:04:49.196 --> 00:04:49.856 Riccardo Stewart: I like that. 00:04:49.856 --> 00:04:50.396 I like that. 00:04:50.696 --> 00:04:53.786 Uh, maybe trying to throw a little curve ball at you, Jeff. 00:04:53.906 --> 00:04:54.116 Where does. 00:04:55.716 --> 00:05:00.276 Emergency fund or where does my protective reserve, where does that fit 00:05:00.396 --> 00:05:02.406 in terms of the needs, wants or wishes? 00:05:03.096 --> 00:05:05.436 Jeff Locke: Yeah, it's definitely a need, right? 00:05:05.586 --> 00:05:08.556 One of our, we say this a lot to our clients, like one of our jobs is 00:05:08.556 --> 00:05:10.056 to think about worst case scenario. 00:05:10.056 --> 00:05:13.746 So you don't have to, you can go focus on being the best player you can be, 00:05:14.076 --> 00:05:16.116 being the best father you can be. 00:05:16.536 --> 00:05:20.946 Um, so we plan for worst case, right? 00:05:20.976 --> 00:05:22.386 Your contract ends. 00:05:22.761 --> 00:05:26.271 You only get the guaranteed money left that's fully guaranteed, right? 00:05:26.271 --> 00:05:29.811 Here's the protection we set in place to make sure you got what you need. 00:05:31.117 --> 00:05:33.967 Riccardo Stewart: Now that I got my needs, that bucket, they're all filled up. 00:05:34.237 --> 00:05:35.227 Now I get to the wants. 00:05:35.257 --> 00:05:38.977 These are some of the things that like, yeah, I'd be kind of upset if I didn't 00:05:38.977 --> 00:05:40.507 get this, and I wanna make sure I have it. 00:05:40.507 --> 00:05:43.897 So Zach, I mean, you're a guy who, I don't wanna say you have many wants, but I 00:05:43.897 --> 00:05:45.637 feel like you, you've got a lot of wants. 00:05:46.297 --> 00:05:49.417 So let, I feel like I'm in some like cheesy Drake video or something like 00:05:49.417 --> 00:05:50.677 wants and needs or something like that. 00:05:50.677 --> 00:05:53.977 But what, what would be a want, Zach? 00:05:55.792 --> 00:05:59.392 Zach Miller: Well, now that I'm older, um, the wants definitely changed. 00:05:59.392 --> 00:06:03.742 So like paying for college for all four of my kids, like that's now a want for me. 00:06:03.742 --> 00:06:06.742 It's something I, it's important that I want to have happen. 00:06:06.982 --> 00:06:09.317 It's not a need because technically my kids could still. 00:06:10.087 --> 00:06:11.527 Get a loan, all those things. 00:06:11.527 --> 00:06:13.657 But it definitely falls into that bucket. 00:06:14.287 --> 00:06:18.067 And so, and I made this mistake as an NFL player is everyone 00:06:18.067 --> 00:06:21.997 worries about what to invest in instead of what am I investing for? 00:06:22.207 --> 00:06:23.677 Like what do I want that money to do? 00:06:23.677 --> 00:06:24.817 Like what are my goals? 00:06:25.117 --> 00:06:27.337 And you will, I mean, as an NFL player, you will get 00:06:27.337 --> 00:06:28.777 Enough money to. 00:06:28.777 --> 00:06:32.047 get out of that, just satisfying those needs and that, that kind 00:06:32.047 --> 00:06:33.817 of essential things in life. 00:06:33.877 --> 00:06:37.797 And you get to the wants, the fun things, the things that if I don't accomplish them 00:06:38.047 --> 00:06:43.627 for, for me as a player that, that big body Mercedes, like I always wanted that 00:06:43.957 --> 00:06:45.607 I didn't get it during my first contract. 00:06:45.607 --> 00:06:46.837 It was important to me. 00:06:47.047 --> 00:06:50.377 I waited till I actually won a Super Bowl, used my Super Bowl money, 00:06:50.587 --> 00:06:52.057 and that was my reward for that. 00:06:52.057 --> 00:06:54.127 And that's like the perfect example of a want. 00:06:54.127 --> 00:06:55.777 It's something you want to have. 00:06:56.287 --> 00:06:59.767 You know it's gonna happen, you just don't know when, and if it didn't 00:06:59.767 --> 00:07:01.297 happen, you'd be disappointed. 00:07:01.687 --> 00:07:04.027 Um, so those things change over time. 00:07:04.027 --> 00:07:07.777 Now it's things like private school and, and another, like, another good 00:07:07.777 --> 00:07:09.787 example is like buying your first house. 00:07:09.787 --> 00:07:13.387 Like that's definitely something that, that's pretty much, I think on 00:07:13.387 --> 00:07:18.667 universally everyone's want list is, it doesn't have to happen, but I mean, it's, 00:07:18.727 --> 00:07:19.477 It's important. 00:07:19.477 --> 00:07:23.647 to everybody to buy, buy a house, have a house, and, and then, 00:07:23.647 --> 00:07:25.087 you know, you play long enough. 00:07:25.537 --> 00:07:28.837 Sometimes you get that, you know, what Sam was gonna talk about is 00:07:29.137 --> 00:07:33.037 the more fun things that second house or third house or cool house. 00:07:33.037 --> 00:07:37.447 So, um, I mean there's, there's a lot in that wants category. 00:07:37.507 --> 00:07:41.017 I mean, it can be all the way from, you know, you getting a boat, which 00:07:41.017 --> 00:07:45.127 eventually became a wand and then I got one so that they just keep going. 00:07:45.247 --> 00:07:47.167 There's more wants the, the longer you live. 00:07:47.467 --> 00:07:50.222 And the, the other important thing is just to run your own race and in 00:07:50.222 --> 00:07:53.017 a, in, in the locker room, especially in different position groups. 00:07:53.902 --> 00:07:55.912 Don't let someone else's wants be your wants. 00:07:55.912 --> 00:07:58.762 Like make sure that you're doing it not just to keep up with that locker 00:07:58.762 --> 00:08:03.082 room, keep up with the status quo of like, oh, I got this so you know, 00:08:03.082 --> 00:08:05.542 or this other guy in the room got this, so now I need to one up him. 00:08:05.812 --> 00:08:06.592 It gets like that. 00:08:06.592 --> 00:08:09.322 So, uh, make sure you're running your own race. 00:08:10.607 --> 00:08:11.057 Riccardo Stewart: Love it. 00:08:11.057 --> 00:08:11.747 I love it. 00:08:11.897 --> 00:08:12.437 Okay. 00:08:12.437 --> 00:08:17.357 Last but definitely not least, look at dapper first. 00:08:17.362 --> 00:08:21.197 You have to tell me what that a is on your, on your, your suit there, man. 00:08:21.347 --> 00:08:25.187 Before we talk about wishes, I need to know what that A is for. 00:08:25.647 --> 00:08:26.527 Sam Acho: A lot of people see it. 00:08:26.527 --> 00:08:27.642 They think it's Alabama. 00:08:27.642 --> 00:08:28.722 I did not go to Alabama. 00:08:28.722 --> 00:08:29.622 I went to Texas. 00:08:29.962 --> 00:08:31.162 Uh, the A is for Acho. 00:08:31.162 --> 00:08:32.032 My wife picked it out. 00:08:32.032 --> 00:08:34.072 I'm trying to up my game a little bit, get some lapels. 00:08:34.072 --> 00:08:35.332 The A is not for Vama. 00:08:35.362 --> 00:08:36.532 No, it's for Acho. 00:08:36.772 --> 00:08:37.522 My last name. 00:08:38.932 --> 00:08:39.952 Riccardo Stewart: I should have known that, bro. 00:08:39.952 --> 00:08:42.202 I'm tripping here. 00:08:42.202 --> 00:08:42.502 I was. 00:08:42.502 --> 00:08:44.092 I thought it was for Arizona State. 00:08:44.182 --> 00:08:47.722 So when, when it comes to wishes. 00:08:48.202 --> 00:08:54.622 Sam, what are some ideas or some examples for, um, um, ultra wealthy NFL player 00:08:54.622 --> 00:08:56.257 of some wishes, and why does it matter? 00:08:56.357 --> 00:08:56.977 Why is it important? 00:08:58.282 --> 00:08:59.812 Sam Acho: Well, there are three examples that I've heard. 00:08:59.812 --> 00:09:00.982 These are players who I've talked to. 00:09:00.982 --> 00:09:03.652 One of 'em, one Wish is this 00:09:03.652 --> 00:09:04.192 idea of 00:09:04.192 --> 00:09:05.962 man, I want to go back home where I grew up. 00:09:06.517 --> 00:09:07.357 And build a 00:09:07.357 --> 00:09:07.717 state. 00:09:07.717 --> 00:09:11.377 of an art state-of-the-art facility for young kids who never got a chance 00:09:11.377 --> 00:09:13.237 to go and work out and go and train. 00:09:13.447 --> 00:09:17.467 I want them to have that opportunity that I wasn't afforded when I was younger. 00:09:17.467 --> 00:09:20.047 So that's more of a philanthropic type of wish. 00:09:20.452 --> 00:09:23.842 Another type of wish that's in that philanthropic vein is, is someone 00:09:23.842 --> 00:09:26.632 who's from the Texas area and said, man, I wanna do more for the Boys 00:09:26.632 --> 00:09:28.342 and Girls Club in my neighborhood. 00:09:28.342 --> 00:09:31.942 I grew up going to Boys and Girls Club, so I'd actually figure out if I could maybe 00:09:31.942 --> 00:09:37.222 start a nonprofit or a foundation or, or maybe donate more money for those kids in 00:09:37.222 --> 00:09:41.212 my neighborhood where I grew up even more, uh, nationally to help and serve them. 00:09:41.692 --> 00:09:43.252 And then there are more of the personal wishes. 00:09:43.252 --> 00:09:44.392 Zach touched on it earlier. 00:09:45.187 --> 00:09:46.597 Maybe it's not just the first home. 00:09:46.597 --> 00:09:48.817 Maybe it's building a custom home. 00:09:48.817 --> 00:09:52.957 I've got friends and colleagues here in Texas who have built custom homes 00:09:52.957 --> 00:09:55.412 on huge lots and lots and lots of land. 00:09:56.077 --> 00:09:57.877 And that's a, that's a wish. 00:09:58.117 --> 00:10:00.277 It may not be a need 'cause you have a home. 00:10:00.487 --> 00:10:03.247 It may not be a, a want, but it's a wish, man, I wish I could 00:10:03.247 --> 00:10:04.417 have this custom home, right? 00:10:04.417 --> 00:10:07.597 You go to this guy's home, you see custom cars in that custom home. 00:10:07.597 --> 00:10:10.867 It could even be that second home or third home, that vacation home. 00:10:10.867 --> 00:10:12.067 I know me personally, right? 00:10:12.067 --> 00:10:13.867 I, my family, we go to Nigeria all the time. 00:10:13.867 --> 00:10:18.517 There's some wishes that I have of doing work overseas in Nigeria, building homes, 00:10:18.517 --> 00:10:20.617 building, uh, doing business over there. 00:10:20.737 --> 00:10:23.797 So when I think about wants, needs and wishes. 00:10:24.072 --> 00:10:26.952 Wishes is that piece that goes beyond just what you need. 00:10:26.982 --> 00:10:31.062 Jeff talked about the clothes or the food or ta paying the tax man or more 00:10:31.062 --> 00:10:34.242 than what you, more than what Zach talked about is, oh man, I got my home. 00:10:34.242 --> 00:10:35.112 Maybe that car. 00:10:35.382 --> 00:10:37.302 It's ideating and dreaming beyond. 00:10:37.302 --> 00:10:39.522 The reason why it's important just to answer that question is. 00:10:39.832 --> 00:10:41.932 You've worked your whole career to get to this point. 00:10:42.412 --> 00:10:46.822 You've sacrificed so much to be able to be the best in the world of what you do. 00:10:47.242 --> 00:10:51.262 And you deserve people on your team in your corner who can help give 00:10:51.262 --> 00:10:55.372 you the blueprint of how to be the best in the world on things outside 00:10:55.552 --> 00:10:58.102 of what you do on the field, and to be able to get what you deserve. 00:10:58.102 --> 00:11:00.622 So that's why wishes are so important. 00:11:01.462 --> 00:11:01.907 Riccardo Stewart: I love it. 00:11:01.967 --> 00:11:02.597 I love it. 00:11:02.957 --> 00:11:05.567 But you've heard us say it before and you're gonna say it all the time. 00:11:06.127 --> 00:11:09.487 Money is just a tool and it's to pay for the things that are important 00:11:09.487 --> 00:11:13.362 to you and bless the people and the community and the places that you love. 00:11:14.497 --> 00:11:14.857 In order 00:11:14.857 --> 00:11:15.997 for you to be able to make 00:11:15.997 --> 00:11:16.627 this money. 00:11:16.897 --> 00:11:20.437 and as an NFL athlete, you've already understood how to make it. 00:11:20.707 --> 00:11:23.677 It's now going, looking and going, okay, if I'm the human at the 00:11:23.677 --> 00:11:25.357 center, what are my priorities? 00:11:25.627 --> 00:11:27.727 You have to think about what are the needs that you have? 00:11:27.727 --> 00:11:28.927 What are the wants that you have? 00:11:28.927 --> 00:11:30.097 What are the witches that you have? 00:11:30.367 --> 00:11:31.297 And then you take 00:11:31.297 --> 00:11:32.017 Those priorities. 00:11:32.492 --> 00:11:36.992 You have your financial team begin to invest accordingly to that. 00:11:37.082 --> 00:11:40.172 Okay, this next episode that you're gonna hear from us is, what does 00:11:40.172 --> 00:11:44.222 investing look like when it's according to someone's priority, as opposed just 00:11:44.222 --> 00:11:45.992 investing just for investing's sake. 00:11:46.502 --> 00:11:49.502 Um, if there any questions you have or any thoughts you have for 00:11:49.502 --> 00:11:50.642 us, we'd love to hear from you. 00:11:50.792 --> 00:11:51.902 Please reach out to us. 00:11:51.902 --> 00:11:56.132 Our number is 6 0 2 9 8 9 5 0 2 2.