Ally Love, Dwyane Wade, JPMorgan Wealth Administration CEO Kristen Lemkau, Tom Brady, A’ja Wilson and Megan Rapinoe in the course of the JPMorganChase Athlete Council assembly on March 18, 2026.
Shawn McMillan | CNBC
JPMorgan Chase has recruited a number of the largest names in American sports activities to assist deal with a persistent downside: skilled athletes going broke.
The financial institution on Wednesday introduced an initiative referred to as the JPMorgan Chase Athlete Council, led by two-time NBA Corridor of Famer Dwyane Wade and that includes different high-profile athletes, together with Tom Brady, Sue Fowl, Alex Morgan, Megan Rapinoe, A’ja Wilson and Jalen Brunson.
The celebs will meet with JPMorgan executives to assist the financial institution craft packages designed to serve athletes from faculty to skilled life and retirement, JPMorgan stated in a launch.
The transfer displays rising competitors amongst banks and wealth managers to serve athletes, probably the most outstanding of whom are more and more turning into entrepreneurs, traders and media personalities.
Most athletes do not obtain private finance training in class, and their comparatively quick careers depart a slender incomes window that requires cautious planning, in response to JPMorgan, the most important U.S. financial institution by property. About one in six NFL gamers declare chapter inside 12 years of retiring, the financial institution stated.
“We heard quite a lot of the identical factor again and again, which is quite a lot of younger athletes coming into cash very instantly, they develop unsustainable life, they do not at all times get nice recommendation round them, and people are the fortunate ones,” Kristin Lemkau, head of JPMorgan Wealth Administration, advised CNBC’s Leslie Picker on Wednesday.
Wade stated within the launch that the initiative provides athletes an opportunity to share hard-won experiences with the subsequent technology.
“Having the precise instructional sources and steering is crucial to creating sensible choices about cash as your profession evolves,” he stated.
Tom Brady, A’ja Wilson and Megan Rapinoe in the course of the JPMorganChase Athlete Council assembly on March 18, 2026.
Shawn McMillan | CNBC
WNBA participant Wilson stated it is vital to her to have the ability to share cash administration expertise with the subsequent cohort {of professional} athletes.
“We’re beginning to attempt to flip the web page and assist the youth within the subsequent technology perceive that you need to construct belief, you need to construct boundaries and know precisely the way you need to function together with your cash,” Wilson advised CNBC.
The financial institution can be standing up an Athlete Middle of Excellence staffed by monetary professionals with sports activities expertise and launching a content material hub with checklists for athletes navigating the identify, picture and likeness, or NIL, system and guides for assembling a roster of advisors.
— CNBC’s Laya Neelakandan contributed to this report.
