Wealth Management for NHL Players

A career in the NHL is short. 70 to 90% of a pro athlete’s lifetime earnings will be generated before they turn 35¹. There’s a 70% chance a pro athlete will file for bankruptcy or face severe financial pressure within five years of retiring from the sport². Earnings are concentrated into a narrow window, careers can change quickly, and decisions made early — often under pressure — compound for decades. At Wood Gundy, we work with NHL players to bring structure, clarity, and discretion to their financial lives, so nothing off the ice distracts from performance on it.

Our role is simple: protect what you’ve earned, grow it intelligently, and make sure it works for you long after the last shift.

¹Chevreau, Jonathan, MoneySense: “Why so many athletes run into financial trouble https://www.moneysense.ca/columns/why-so-many-athletes-run-into-financial-trouble/

²Moynes, Chris: “The Pro’s Process – An Expert Approach to Wealth Management for Professional Athletes”, http://theprosprocess.com/, September 2013

What we do for our Athletes

We provide a high touch experience and can help you maximize the value of your personal brand whether it be optimizing endorsement income or helping you give back to your community. As your quarterback, your CIBC Private Wealth advisor brings together a team of professionals in your lineup by making the most of the opportunities you have to secure a strong financial future. We can also collaborate closely with your other advisors between agents, accountants, and lawyers to ensure all elements of your wealth plan are aligned.

Working together we create a customized plan that may consist of various strategies and multi-layered solutions to help structure, preserve and optimize your wealth based on your lifestyle.

• Cross-border banking and investments
• Tax and estate planning strategies
• Understanding your income
• Risk management
• Cash and liquidity projections
• Retirement planning
• Trust services
• Multi-currency credit
• Investment management
• Insurance planning
• Philanthropy

The power of your Personal Brand

Your personal brand is as important to your career as your performance. If you’re a Canadian resident earning endorsement income, you may be able to set up a corporation—we can help with that.
The benefits of incorporation include:

• Lower corporate tax rates: Income from your endorsement deals could be taxed at a lower rate. In addition, individual tax is deferred until amounts are distributed from the corporation. .
• Limited liability and protection of assets: Your personal assets may be protected from liquidation in case of bankruptcy. 
• Retirement planning benefits: A retirement compensation arrangement (RCA) could supplement your pension benefits through tax-deductible contributions. You won’t be taxed on contributions until you begin receiving benefits in retirement, and assets within an RCA may be protected from creditors. A refundable tax is paid on RCA contributions.

A Different Kind of Advisory Relationship

We don’t aim to be the loudest voice in the room. We aim to be the most trusted one.

At CIBC, we understand the unique financial needs and aspirations of NHL players. Our dedicated wealth management team is committed to helping you build, protect, and grow your wealth throughout your career and beyond. Whether you’re just starting out or planning for life after hockey, we’re here to provide personalized guidance and trusted expertise every step of the way.

Ready to secure your financial future?
Contact my team and I today to discover how we can help you achieve your goals, both on and off the ice.