Former Dragon Adam Hughes is making a name for himself as an independent financial advisor based in Newport using his knowledge giving advice to professional sports people from across the UK.

Adam spent 10 years playing professional rugby for Dragons, Exeter Chiefs and Bristol before being forced to retire in 2018 due to injury.

He joined Newport-based Niche in 2017 working part time while he was still playing.

He's now part of Niche Sports, which offers specialist independent financial advice to help professional sports people take control of their financial situation, no matter what stage of their career they are in.

Having experienced the importance of financial planning in sport, Adam passes on his wisdom to other sports professionals.

Adam said: “Most of my clients are international rugby players, as well as club football and cricket players. The most unique challenge you will face as an adviser in this field is preparing your clients for two retirements.

"Once when they leave professional sport, and again after their main career. Who else faces a retirement and a huge decrease in salary in their 30s? While most people are building up healthy incomes in careers that they have gained experience in over the years, retiring athletes face a few more challenges than the average client.

“Financial planning with professional athletes places an even greater emphasis on a balancing act between now and the future, providing for the current lifestyle in sport while planning for the long-term post-sport and their main retirement later on.”

“Professional athletes have a certain lifestyle, and most will want to maintain their lifestyle post-sport if possible, which is where effective planning really comes into play.”

“But it’s always important to consider how professional sport is an unpredictable career. You always need to be looking ahead as you never truly know what is around the corner, which is why it’s so important to protect what you have while looking forward to the inevitable first retirement of your life”.

“Career ending and catastrophic injuries pose a real threat to rugby players especially, having faced them myself. Implementing protection for potentially lost income as well as ensuring a certain amount of savings and investments are liquid so they’re accessible at short notice are two ways that can help deal with this uncertainty.”

“One of the most effective ways of making sure professional sportspeople are in a safe financial place when they retire is too educate them when they start. Part of what I do is travel around clubs and academies and give this sort of financial education. It can be as simple as payslips and budgeting to tax planning and the risks of investments. Hopefully it will help them keep one eye on the present and another on the future”