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How AVANCE Sports Is Helping Athletes Turn Opportunity into Generational Wealth
Wealth Stream News sat down with Armando Tam and Hernan Olaya of AVANCE Sports to talk about one of the biggest shifts happening in sports today: athletes are no longer waiting until they turn pro to think about business, branding, and wealth creation.
With name, image, and likeness (NIL) opportunities changing the economics of youth and college sports, the conversation around athlete wealth is starting much earlier. For AVANCE Sports, the opportunity is not only to help athletes make money, but to connect them with the mentorship, cultural intelligence, and cross-sector networks needed to turn short-term earnings into long-term ownership.
The discussion has been edited for length and clarity.
Wealth Stream News: How does AVANCE Sports fit into the larger wealth-building ecosystem?
Armando: Sports fits into the ecosystem because Latinos are outpacing in sports, just as they are in other sectors. When you look at the World Baseball Classic, the Messi effect, Bad Bunny, and the economics around culture and entertainment, you see that representation continues to grow.
The question now is how education and access are going to be provided to the people entering that ecosystem. If you do not have real estate, finance, construction, tax strategy, and mentorship aligned around you, then you must go seek it out yourself. What AVANCE Sports is trying to create is alignment.
Wealth Stream News: How do you define wealth creation for athletes, and how is that different from traditional financial success?
Armando: Traditional financial success usually takes longer. For most professionals, you build over decades. For athletes, the timeline is compressed. The average professional sports career is much shorter, which means athletes must think earlier and move more intentionally.
Now, with NIL and marketing deals, more young athletes can change their lives without ever becoming professional athletes. Some college athletes are earning millions before they know whether they will play in the league. That changes everything. Wealth creation for athletes is about understanding that the window may be short, but the opportunity can be life-changing if you have the right team and the right strategy.
Wealth Stream News: At what stage should financial education start for athletes?
Armando: It is never too soon. By the time many athletes become professionals, it may already be late. We have been around high-performing high school players who are already thinking about business because of social media, NIL, and the way the sports economy has changed.
The old idea was, “When I become pro, I will start making money.” Now it is, “If I become pro, great. But what can I build before that?” Athletes are seeing high school players and college players earning money, building audiences, and creating opportunities. The challenge is not access to information. The challenge is finding the right team early enough.
Wealth Stream News: What are the most common financial mistakes athletes make?
Armando: The common pitfall is not having the right team at the right time. AVANCE Sports is unique because of the ecosystem it creates across finance, real estate, construction, tax strategy, and leadership. You cannot just give athletes a curriculum. You must give them mentors.
We learn more by spending time with people who have exited the league, retired, and built real businesses than we can from online courses. Agents often focus on negotiating contracts, especially big contracts, but that is not the same as helping someone build wealth. Athletes need trusted veterans, or what we call OGs, who can help them think beyond the next deal.
Wealth Stream News: How should young athletes go about finding the right team?
Armando: A lot of it comes through alumni, content, and learning from people who have already done it. I had dinner with José Calderón, and I asked him how he knew when it was time to think about business. In Europe, he signed pro at 13, so the system starts much earlier.
When he made it to the league, he said he built a team the same way he would build a winning basketball team. He did not want to hire only friends or family. That is a powerful lesson. Athletes need to consume the right content, learn from former players and entrepreneurs, and surround themselves with people who have built something after the game.
Wealth Stream News: How do you help athletes see themselves as brands and businesses, not just competitors?
Hernan: The sooner they understand this, the better. At a young age, athletes need to see that they are brands and that they must start building that brand with intention. If young athletes build their brand and surround themselves with a trusted circle of people, they can be supported in a holistic way, not just in sports.
At the event in Málaga Spain earlier this year, we created an ecosystem where athletes were interacting directly with companies and brands connected to sports. That included sports technology companies that see these young athletes as future NBA, NFL, or MLB players. It was a win-win because the athletes learned how to build their brand, and companies had a chance to engage early with the people who may one day represent their products.
Wealth Stream News: What types of investments or wealth-building vehicles make sense for athletes?
Hernan: It must be balanced. These young athletes are being exposed to large amounts of money through NIL, and they need the right mindset about how to use it. Stability comes first. After that, I believe vehicles like real estate and cash-flow assets make sense because they can help athletes see growth opportunities over time.
If a young athlete has a portfolio or has earned millions of dollars, the question becomes: what can they do with that money, so it grows over five, 10, or 20 years? Once they begin to see themselves that way, their decisions change. They start asking how they can partner with a brand, invest in a product, or build a portfolio.
Armando: When we put everybody in the same room, we become powerful because of the crossing of sectors. Sports connects to real estate, finance, food, media, technology, and culture. That cross-sector access is what makes AVANCE Sports different.
Wealth Stream News: How is NIL changing the conversation around athlete wealth?
Hernan: NIL has completely changed the game. We are seeing major increases in athlete valuations, and not just for professional athletes. One young athlete we discussed, a Kentucky player of Colombian descent, reportedly moved from roughly $1.5 million in NIL value in his freshman year to a valuation around $4.5 million the following year.
The important lesson from that case is that his family built the right circle. His mother hired the right financial advisor, and they had the right agent. You do not mix those two roles. Your agent should not be the person making your financial decisions. When a young person suddenly has millions of dollars, the people around them matter tremendously.
Armando: There are positives and pitfalls. Coaches may look at NIL from the team or sports perspective, especially when athletes are entering the transfer portal and chasing the best financial offer. We look at it from the recipient’s perspective. What happens to the young person receiving the money?
One concern is that when athletes chase money too early, they may not mature in the traditional way. The fundamentals of being in the gym can become less important if they spend more time on social media trying to chase the bag. But the positive stories matter too. That is why we want to highlight athletes who are doing this the right way.
Wealth Stream News: Tell us about the Players Club.
Armando: Players Club will be an AVANCE Sports event within our sports conference for athletes and parents of athletes. It is designed around peer-to-peer support. Athletes learn differently when they hear from other athletes who have lived the experience.
The idea is players for players, and parents for parents. We want to bring forward positive stories and practical lessons, especially around NIL, mentorship, family support, and what it means to build something beyond the court or field.
Wealth Stream News: What is one overlooked upside of NIL?
Armando: One of the biggest positives is that you do not have to go pro. You can be a local hero. An athlete may finish college with significant money, even if they never make it professionally. That can change a family’s trajectory.
Hernan: Another overlooked point is education. If NIL keeps athletes in college longer, many of them will graduate. Some will go into postgraduate programs because they want to continue playing and developing. That means you may have athletes with resources and degrees. That combination can be powerful.
Wealth Stream News: What shifts are you seeing in athlete wealth management today?
Armando: More athletes are getting into business publicly. You see examples like Steph Curry, Kevin Durant, Alex Rodriguez, and others documenting their business journeys. That has shifted the mindset. Athletes can now say, “I want to be a businessman.” They do not have to limit themselves to the old lanes.
I remember interviewing Lonzo Ball on a panel with Gary Payton and Earl Watson. Gary’s era was focused on winning championships, and of course Lonzo wanted to win too. But Lonzo also said he wanted to grow his following so he could create more businesses. That is what is different. Athletes are seeing that business can be part of the journey from the beginning.
Hernan: Athletes are more intentional now. They have more access, more information, more education, and more technology. They are not just asking how to make money. They are asking how to make the money last, how to create generational wealth, and how their success can affect their families and communities.
Wealth Stream News: What should people look forward to from AVANCE Sports leading up to September?
Armando: We are excited about several things. For corporate members, we are helping professional teams achieve more revenue through cultural connection. We are launching a Cultural Connection Report that helps teams and companies better understand the demographic makeup of their markets, fan bases, players, and communities.
There is a difference between Colombians, Venezuelans, Dominicans, Cubans, Puerto Ricans, and other Latino communities. For too long, the market was treated as one broad “Latino” category. Social media has changed that. Cultural relevance now requires more specificity and more respect for the differences within our community.
We are also developing city clubs in markets across the country, helping leaders in sports sectors learn board governance, host impactful events, and build relationships leading up to Las Vegas. We want Latino executives, athletes, entrepreneurs, and companies to see ownership as normal. We want them to say, “I can own a team. I can diversify. I can be part of this sector.”
Hernan: Food is also part of the connection. Sports has the cool factor, but what brings people together is sitting at a table and breaking bread. Whether it is Puerto Ricans, Dominicans, Colombians, or other communities, food creates a cultural experience. That is why Mesa is so powerful. It brings people into the room in an organic way.
Wealth Stream News: What is the main message you want readers to take away?
Armando: Sports is one of the few sectors that continues to show guaranteed growth. And you do not have to be an athlete to win in this sector.
Hernan: Sports has become a sector of its own. You just must find where you fit: as an athlete, administrator, executive, company, investor, or partner. There are so many ways to create synergies and elevate the ecosystem. AVANCE is a platform that makes that possible.
For the Hispanic Wealth Project community, the message is clear: sports are no longer just entertainment. It is a growing economic engine where culture, business, ownership, and generational wealth intersect. AVANCE Sports is helping make sure Latino athletes, families, executives, and entrepreneurs are not just watching that growth happen, but actively participating in it.
Disclosure: The information provided in this article is for educational and informational purposes only and should not be construed as financial advice.
With name, image, and likeness (NIL) opportunities changing the economics of youth and college sports, the conversation around athlete wealth is starting much earlier. For AVANCE Sports, the opportunity is not only to help athletes make money, but to connect them with the mentorship, cultural intelligence, and cross-sector networks needed to turn short-term earnings into long-term ownership.
The discussion has been edited for length and clarity.
Wealth Stream News: How does AVANCE Sports fit into the larger wealth-building ecosystem?
Armando: Sports fits into the ecosystem because Latinos are outpacing in sports, just as they are in other sectors. When you look at the World Baseball Classic, the Messi effect, Bad Bunny, and the economics around culture and entertainment, you see that representation continues to grow.
The question now is how education and access are going to be provided to the people entering that ecosystem. If you do not have real estate, finance, construction, tax strategy, and mentorship aligned around you, then you must go seek it out yourself. What AVANCE Sports is trying to create is alignment.
Wealth Stream News: How do you define wealth creation for athletes, and how is that different from traditional financial success?
Armando: Traditional financial success usually takes longer. For most professionals, you build over decades. For athletes, the timeline is compressed. The average professional sports career is much shorter, which means athletes must think earlier and move more intentionally.
Now, with NIL and marketing deals, more young athletes can change their lives without ever becoming professional athletes. Some college athletes are earning millions before they know whether they will play in the league. That changes everything. Wealth creation for athletes is about understanding that the window may be short, but the opportunity can be life-changing if you have the right team and the right strategy.
Wealth Stream News: At what stage should financial education start for athletes?
Armando: It is never too soon. By the time many athletes become professionals, it may already be late. We have been around high-performing high school players who are already thinking about business because of social media, NIL, and the way the sports economy has changed.
The old idea was, “When I become pro, I will start making money.” Now it is, “If I become pro, great. But what can I build before that?” Athletes are seeing high school players and college players earning money, building audiences, and creating opportunities. The challenge is not access to information. The challenge is finding the right team early enough.
Wealth Stream News: What are the most common financial mistakes athletes make?
Armando: The common pitfall is not having the right team at the right time. AVANCE Sports is unique because of the ecosystem it creates across finance, real estate, construction, tax strategy, and leadership. You cannot just give athletes a curriculum. You must give them mentors.
We learn more by spending time with people who have exited the league, retired, and built real businesses than we can from online courses. Agents often focus on negotiating contracts, especially big contracts, but that is not the same as helping someone build wealth. Athletes need trusted veterans, or what we call OGs, who can help them think beyond the next deal.
Wealth Stream News: How should young athletes go about finding the right team?
Armando: A lot of it comes through alumni, content, and learning from people who have already done it. I had dinner with José Calderón, and I asked him how he knew when it was time to think about business. In Europe, he signed pro at 13, so the system starts much earlier.
When he made it to the league, he said he built a team the same way he would build a winning basketball team. He did not want to hire only friends or family. That is a powerful lesson. Athletes need to consume the right content, learn from former players and entrepreneurs, and surround themselves with people who have built something after the game.
Wealth Stream News: How do you help athletes see themselves as brands and businesses, not just competitors?
Hernan: The sooner they understand this, the better. At a young age, athletes need to see that they are brands and that they must start building that brand with intention. If young athletes build their brand and surround themselves with a trusted circle of people, they can be supported in a holistic way, not just in sports.
At the event in Málaga Spain earlier this year, we created an ecosystem where athletes were interacting directly with companies and brands connected to sports. That included sports technology companies that see these young athletes as future NBA, NFL, or MLB players. It was a win-win because the athletes learned how to build their brand, and companies had a chance to engage early with the people who may one day represent their products.
Wealth Stream News: What types of investments or wealth-building vehicles make sense for athletes?
Hernan: It must be balanced. These young athletes are being exposed to large amounts of money through NIL, and they need the right mindset about how to use it. Stability comes first. After that, I believe vehicles like real estate and cash-flow assets make sense because they can help athletes see growth opportunities over time.
If a young athlete has a portfolio or has earned millions of dollars, the question becomes: what can they do with that money, so it grows over five, 10, or 20 years? Once they begin to see themselves that way, their decisions change. They start asking how they can partner with a brand, invest in a product, or build a portfolio.
Armando: When we put everybody in the same room, we become powerful because of the crossing of sectors. Sports connects to real estate, finance, food, media, technology, and culture. That cross-sector access is what makes AVANCE Sports different.
Wealth Stream News: How is NIL changing the conversation around athlete wealth?
Hernan: NIL has completely changed the game. We are seeing major increases in athlete valuations, and not just for professional athletes. One young athlete we discussed, a Kentucky player of Colombian descent, reportedly moved from roughly $1.5 million in NIL value in his freshman year to a valuation around $4.5 million the following year.
The important lesson from that case is that his family built the right circle. His mother hired the right financial advisor, and they had the right agent. You do not mix those two roles. Your agent should not be the person making your financial decisions. When a young person suddenly has millions of dollars, the people around them matter tremendously.
Armando: There are positives and pitfalls. Coaches may look at NIL from the team or sports perspective, especially when athletes are entering the transfer portal and chasing the best financial offer. We look at it from the recipient’s perspective. What happens to the young person receiving the money?
One concern is that when athletes chase money too early, they may not mature in the traditional way. The fundamentals of being in the gym can become less important if they spend more time on social media trying to chase the bag. But the positive stories matter too. That is why we want to highlight athletes who are doing this the right way.
Wealth Stream News: Tell us about the Players Club.
Armando: Players Club will be an AVANCE Sports event within our sports conference for athletes and parents of athletes. It is designed around peer-to-peer support. Athletes learn differently when they hear from other athletes who have lived the experience.
The idea is players for players, and parents for parents. We want to bring forward positive stories and practical lessons, especially around NIL, mentorship, family support, and what it means to build something beyond the court or field.
Wealth Stream News: What is one overlooked upside of NIL?
Armando: One of the biggest positives is that you do not have to go pro. You can be a local hero. An athlete may finish college with significant money, even if they never make it professionally. That can change a family’s trajectory.
Hernan: Another overlooked point is education. If NIL keeps athletes in college longer, many of them will graduate. Some will go into postgraduate programs because they want to continue playing and developing. That means you may have athletes with resources and degrees. That combination can be powerful.
Wealth Stream News: What shifts are you seeing in athlete wealth management today?
Armando: More athletes are getting into business publicly. You see examples like Steph Curry, Kevin Durant, Alex Rodriguez, and others documenting their business journeys. That has shifted the mindset. Athletes can now say, “I want to be a businessman.” They do not have to limit themselves to the old lanes.
I remember interviewing Lonzo Ball on a panel with Gary Payton and Earl Watson. Gary’s era was focused on winning championships, and of course Lonzo wanted to win too. But Lonzo also said he wanted to grow his following so he could create more businesses. That is what is different. Athletes are seeing that business can be part of the journey from the beginning.
Hernan: Athletes are more intentional now. They have more access, more information, more education, and more technology. They are not just asking how to make money. They are asking how to make the money last, how to create generational wealth, and how their success can affect their families and communities.
Wealth Stream News: What should people look forward to from AVANCE Sports leading up to September?
Armando: We are excited about several things. For corporate members, we are helping professional teams achieve more revenue through cultural connection. We are launching a Cultural Connection Report that helps teams and companies better understand the demographic makeup of their markets, fan bases, players, and communities.
There is a difference between Colombians, Venezuelans, Dominicans, Cubans, Puerto Ricans, and other Latino communities. For too long, the market was treated as one broad “Latino” category. Social media has changed that. Cultural relevance now requires more specificity and more respect for the differences within our community.
We are also developing city clubs in markets across the country, helping leaders in sports sectors learn board governance, host impactful events, and build relationships leading up to Las Vegas. We want Latino executives, athletes, entrepreneurs, and companies to see ownership as normal. We want them to say, “I can own a team. I can diversify. I can be part of this sector.”
Hernan: Food is also part of the connection. Sports has the cool factor, but what brings people together is sitting at a table and breaking bread. Whether it is Puerto Ricans, Dominicans, Colombians, or other communities, food creates a cultural experience. That is why Mesa is so powerful. It brings people into the room in an organic way.
Wealth Stream News: What is the main message you want readers to take away?
Armando: Sports is one of the few sectors that continues to show guaranteed growth. And you do not have to be an athlete to win in this sector.
Hernan: Sports has become a sector of its own. You just must find where you fit: as an athlete, administrator, executive, company, investor, or partner. There are so many ways to create synergies and elevate the ecosystem. AVANCE is a platform that makes that possible.
For the Hispanic Wealth Project community, the message is clear: sports are no longer just entertainment. It is a growing economic engine where culture, business, ownership, and generational wealth intersect. AVANCE Sports is helping make sure Latino athletes, families, executives, and entrepreneurs are not just watching that growth happen, but actively participating in it.
Disclosure: The information provided in this article is for educational and informational purposes only and should not be construed as financial advice.
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