007: Athletes, Fraud, and Private Investments With Chase Carlson

On today’s show, I sit down with the infamous “Athlete Investment Fraud” attorney, Chase Carlson.

Chase’s practice is focused on investment fraud litigation and has represented investors across the country in disputes with their financial advisors, investment advisors, brokerage and wealth management firms.

Chase has brought claims against almost every major Wall Street firm, including Morgan Stanley, Merrill Lynch, Wells Fargo, Raymond James, Ameriprise, Credit Suisse, and BNY Mellon.

A significant portion of his practice is dedicated to representing professional athletes and entertainers who are victims of investment fraud or mismanagement. His clients have included athletes in the NFL, NBA, MLB and NHL, one of the most successful pop & hip-hop music producers of all time, and one of the largest lottery winners in the history of the United States.

He has previously worked for Global Capital Advisors, a broker-dealer, and for ASG Capital and Kovack Advisors, both of which are registered investment advisors. He also founded Blueprint Family Office, Inc., a registered investment advisor that formerly provided financial advice to several professional athletes. Chase has previously held Series 7 and Series 65 securities licenses.

A couple of things to listen for in this episode:

  • Getting interviewed on 60 Minutes
  • Why trust doesn’t always equal success when it comes to financial investments (and what Chase looks for as red flags)
  • Designations: What to look for (and if you should even look for them at all)
  • What the relationship should look like between agents, financial advisors, and athletes
  • Are business managers necessary?
  • What has the best track record for investments: Private or Public
  • How professional athletes and investors should vet their investments
  • Bitcoin and Marijuana – are these (and other new, “hot” investments) worth it?
  • Should players have an ongoing relationship with a lawyer?
  • Chase’s advice for the athlete transitioning into the business World

Quotes

  • “Research somebody, even if they look good on paper.” – Chase Carlson
  • “Investing in private deals makes it hard to hit a homerun” – Chase Carlson
  • “Build enough safe investments to cover you for the rest of your life.” – Chase Carlson
  • “If you’re a player, don’t sell your future income. Live within your means.” – Chase Carlson

Resources Mentioned:

Watch now:

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