An established financial expert in Los Angeles, Michael “Mike” Ladge offers guidance to celebrities, business owners, and professional athletes. Recently, Mike Ladge was interviewed for an article that appeared in the Huffington Post.
Written by well-known public speaker and licensed clinician Louise Stanger, the article, titled “Sports Stars – Fame and Addiction,” explored the challenges faced by successful professional athletes in their personal and financial lives. Citing examples such as tennis icon Andre Agassi and Hall of Fame NBA player Dennis Rodman, Ms. Stanger discussed how the pressure to succeed at the highest levels, coupled with the allure of fame, can cause world-class athletes to make decisions that lead to substance abuse and financial problems.
Mr. Ladge was featured in the article due to his work with athletes over the years. Providing a personalized approach to wealth advising, he has carefully monitored clients’ spending patterns and bank accounts. As a result, he has identified issues that come with celebrity, including profligate purchases of luxury items and addiction.
According to the interview, one major red flag is when a client withdraws large sums of cash from ATMs. Mr. Ladge stated that because his conversations with clients extend beyond the hard numbers, recognizing these kinds of warning signs can lead to productive conversations about other life topics and strengthen their relationship.