Someone counted his chickens before his eggs hatched.
University of Tennessee quarterback Nico Iamaleava had a Name, Image, and Likeness (NIL) agreement—an arrangement that allows college athletes to profit from their personal brand while participating in college sports—worth an estimated $2.2 million annually. Iamaleava sought a new deal worth $4 million per year, but it was denied. In response, he skipped practice and ultimately left the team. He later committed to UCLA, reportedly for significantly less than his previous $2.2 million agreement.
Stories like this prompt us to ask, “What advice was he given?” Did his advisory team—consisting of his father and no other agent—truly believe he could double his deal, or was he more focused on his potential share of his son’s earnings? Did his father consider his long-term career prospects and the exposure he could gain for the NFL draft? Did he weigh the cost of living in Los Angeles against Knoxville? More importantly, did Iamaleava consider the risks of making emotionally driven decisions over a well-thought-out strategy?
Iamaleava’s story is comparable to an investor’s wealth journey. Both have overarching goals—whether making it to the NFL or reaching retirement. In both cases, it often takes trusted advisers to reach the destination, and many important decisions must be made along the way.
While a financial adviser can run a cash flow projection to determine how much you need to save for retirement, the work doesn’t stop there. A holistic approach to financial planning examines all aspects of your financial life, including restructuring debt and spending, adjusting investments for tax efficiency, optimizing insurance coverage, and ensuring your assets are properly titled for smooth transfer to heirs.
But no single person can do it all. Creating and implementing a comprehensive financial plan generally involves a team of financial professionals. Financial planners typically play a central role in the process, helping you establish and prioritize your goals, develop timelines for achieving these goals, and implement strategies to address your current financial weaknesses and build on your financial strengths. Investment advisers offer insight into portfolio strategy and asset allocation. Insurance professionals assess your protection needs and recommend solutions that align with your broader plan. Accountants and CPAs provide tax guidance and help evaluate the long-term effects of financial decisions. Finally, estate planning attorneys assist in managing and transferring assets both during your life and after death.
Proper planning requires time, effort, and expertise—resources many people struggle to find in their daily lives. As the saying goes, “life happens when you’re busy making plans.” Changing jobs, getting married or divorced, having children, buying or selling a home or business, and achieving retirement are all financial milestones that benefit from expert advice.
A professional financial planner and advisory team can help keep you on track, offering objective guidance to make decisions that serve your best interest and fit your unique situation. With a solid plan and the right professionals in your corner, you’re more likely to avoid missteps and move steadily toward your goals—no matter how ambitious they may be.
If you have questions on how to begin shifting your asset allocation for retirement, the experts at Henssler Financial will be glad to help:
- Experts Request Form
- Email: experts@henssler.com
- Phone: 770-429-9166
Listen to the April 19, 2025 “Henssler Money Talks” episode.
This article is for demonstrative and academic purposes and is meant to provide valuable background information on particular investments, NOT a recommendation to buy. The investments referenced within this article may currently be traded by Henssler Financial. All material presented is compiled from sources believed to be reliable and current, but accuracy cannot be guaranteed. The contents are intended for general information purposes only. Information provided should not be the sole basis in making any decisions and is not intended to replace the advice of a qualified professional, such as a tax consultant, insurance adviser or attorney. Although this material is designed to provide accurate and authoritative information with respect to the subject matter, it may not apply in all situations. Readers are urged to consult with their adviser concerning specific situations and questions. This is not to be construed as an offer to buy or sell any financial instruments. It is not our intention to state, indicate or imply in any manner that current or past results are indicative of future profitability or expectations. As with all investments, there are associated inherent risks. Please obtain and review all financial material carefully before investing. Henssler is not licensed to offer or sell insurance products, and this overview is not to be construed as an offer to purchase any insurance products.
