JPMorganChase partners with sports legends to help athletes master their money

JPMorganChase today announced a new initiative to help athletes navigate every aspect of their financial lives, from early career stages through retirement. 

Building on the firm’s extensive banking and wealth planning and management expertise, the JPMorganChase Athlete Council brings together some of the world’s most accomplished sports figures who will meet with JPMorganChase leaders on a periodic basis to discuss the unique financial needs of athletes and guide the development of programs to address them.

“An athlete’s career and earning power are unique,” said Kristin Lemkau, CEO of J.P. Morgan Wealth Management. “Careers can be short and retirement unexpected. We want to develop a program by athletes for athletes to help them from college to professional sports to retirement. Every athlete on this Council has been deeply committed to paying it forward to help the more than 500,000 college, working and retired athletes avoid some of the same pitfalls they stepped in. At JPMorganChase, we can help every athlete regardless of income level manage their financial plan for the future.”

Athletes’ careers are unpredictable:

• Less than 2% of NCAA college athletes turn professional.
• Most professional athletes retire before they’re 35.
• About 1 in 6 NFL players declare bankruptcy within 12 years of retiring.

Yet nearly 65% of athletes say they never had financial education in school. That makes access to education and planning resources even more critical. At its inaugural meeting, JPMorganChase Athlete Council members shared their own personal experiences and discussed a range of topics, including the needs athletes have at different stages of their career and how to support them effectively in making smart financial choices.

“Athletes face unique challenges and opportunities. Having the right educational resources and guidance is critical to making smart decisions about money as your career evolves,” said 3-time NBA champion and 2-time NBA Hall of Famer Dwyane Wade. “I’m excited to join the JPMorganChase Athlete Council and to serve as chair of this incredible group of athletes. The Council gives us the opportunity to share our experience and insights to help athletes build their financial knowledge and plan beyond their playing careers.”

JPMorganChase has a long history of serving athletes, teams and owners, including sponsorships of tournaments, venues and individual teams and players. Chase is also the designated financial education partner for League One Volleyball (LOVB) and Hudl, a leading sports tech platform for youth to college athletes. The JPMorganChase Athlete Council is one key pillar in the firm’s broader commitment to supporting athletes throughout their financial journey. 

Other ways the firm is supporting athletes include: 

• A new Athlete Center of Excellence run by financial professionals who deeply understand the athlete experience, whether it’s from working with players or having been one themselves. 
• Financial education outreach at universities and major sports events and gatherings to meet athletes where they are with curriculums designed specifically for them. 
• A dedicated educational content hub at www.jpmorgan.com/ace with a range of resources for athletes and tailored guides for each phase of their sports career.

“Our goal is to truly empower the athletes of today — and tomorrow — with financial literacy throughout their career,” said Stevie Baron, Head of Private Client Banking at JPMorganChase. “We are excited to partner with some of the nation’s top athletes to deliver a fully integrated experience.”

Introducing the JPMorganChase Athlete Council: