Foster Burt

About Foster Burt

Financial Analyst in Training | Strategic Thinker | D1 Student-Athlete I am…

Experience

1. Finance Intern

   Weston Banks Wealth Partners

   Jan 2025 — Present · Raleigh, NC, US

   At Weston Banks Wealth Partners, I worked with a diverse client base that included both NIL athletes and business owners. For athletes, I focused on education around self-employment taxes, Safe Harbor rules, and the need to make quarterly payments. Many of them were unaware that failing to plan ahead could result in penalties of or more. I collaborated with CPAs to establish LLCs and S Corps, helped register entities with the Secretary of State, and coordinated payroll services through ADP to give athletes structure and compliance.I also built financial plans and cash flow illustrations that demonstrated the long-term impact of financial decisions. Using side-by-side comparisons, I showed athletes how spending on depreciating assets like cars reduced the power of compounding, and how different portfolio allocations—conservative versus aggressive—affected their future wealth. I guided them through retirement account strategies, including Roth IRA, backdoor Roth IRA, SEP IRA, and 401(k), while also explaining investment options like ETFs, mutual funds, and index funds.In addition to athletes, I worked closely with business owners. Many had recently sold businesses and were facing large capital gains. I presented tax strategies to reduce that burden, including Opportunity Zone Funds, Donor Advised Funds, Section 170(d), and Delaware Statutory Trusts. These tools helped clients offset significant tax liabilities while reallocating proceeds toward long-term investment opportunities.Overall, this role gave me direct experience in financial planning, tax strategy, and client education across two very different groups—young athletes new to wealth and experienced business owners transitioning after liquidity events. I learned how to simplify complex topics, work across teams with CPAs and payroll providers, and create actionable plans that built trust and long-term relationships.