Choosing your Advisor

Choosing your Advisor

"Within 5 years of retirement, 60% of NBA players are broke"

Valuable Tips for Professional Athletes Evaluating Financial Advisors


  • Ask questions about financial topics or investment strategies you do not understand. You are the client. You have the power to invest with whomever you choose. Do not make decisions you are uncomfortable with and demand your questions be answered in terms that you understand.
  • Be skeptical. As you know as a player, with high rewards comes high risk. Your competitive nature as an athlete may sometimes lead you to take more risks. Think carefully about your investment decisions. You have a limited earning period, as a typical NFL career is less than 3 years. Therefore, make decisions that can serve you for a lifetime.
  • Confirm that your advisor has your best interest in mind. Advisors are required by law to comply with your interests. Fully communicate your thoughts, goals and plans with your advisor. Ask your advisor how they are compensated for investing your assets. The investment should always be in your best interest and should never be clouded by the advisor’s compensation.
  • The road to becoming an NFLPA Registered Financial Advisor is no light task. The NFLPA performs background checks and due diligence to ensure that high quality standards are met. Members of the NFLPA Financial Advisor’s Program are also required to abide by the guidelines established by the NFLPA.

What is required to be an NFLPA Registered Financial Advisor?


The NFLPA Financial Advisors Code of Conduct requires an applicant to meet the following requirements:

College Degree – The applicant must hold a bachelor’s degree from an accredited four-year college or university

Work Experience – Advanced Degree- The applicant must have a minimum of five (5) years of relevant work experience and have relevant graduate educational training in the field of his or her financial expertise, such as a Masters in Business Administration or Finance or Juris Doctor.

OR

Have at least one of the following (or comparable) professional designations and/or qualifications: Certified Financial Planner, Chartered Financial Analyst, Chartered Financial Consultant, Chartered Life Underwriter, Certified Public Accountant, Certified Investment Management Consultant, Certified Investment Management Analyst, Chartered Mutual Fund Counselor, NAPFA-qualified member, Registered Financial Consultant, or have passed a relevant NASD exam (Series 7, Series 63, or Series 65) and be otherwise NASD-qualified and hold an appropriate license for a minimum of five (5) years.

Professional Qualifications – All NFLPA Financial Advisors must be a registered Investment Advisor as defined by the federal securities law.

Background Checks- the Advisor must not have any prior conviction, plea of guilty, or pending indictment for any felony offense under federal, state, or military law within the past ten years.

NFLPA: The National Football League Players Association is the union for professional football players in the National Football League.