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 few of the largest names in American sports activities to assist sort out a persistent drawback: 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 Chook, 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 school to skilled life and retirement, JPMorgan stated in a launch.
The transfer displays rising competitors amongst banks and wealth managers to serve athletes, essentially the most distinguished of whom are more and more changing into entrepreneurs, buyers and media personalities.
Most athletes do not obtain private finance schooling in class, and their comparatively brief careers depart a slim incomes window that requires cautious planning, in accordance with JPMorgan, the most important U.S. financial institution by belongings. About one in six NFL gamers declare chapter inside 12 years of retiring, the financial institution stated.
“We heard a number of the identical factor again and again, which is a number of younger athletes coming into cash very all of a sudden, 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, instructed 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 fitting academic sources and steering is vital to creating good 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 essential to her to have the ability to share cash administration abilities 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 must construct belief, you must construct boundaries and know precisely the way you need to function together with your cash,” Wilson instructed CNBC.
The financial institution can also 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.