JPMorgan Chase Launches Athlete Financial Education Initiative & Council | Athlete Wealth Management
JPMorgan Chase & Co. Today unveiled a new initiative aimed at providing comprehensive financial guidance to athletes, addressing a critical gap in education and planning throughout their careers.
The program, centered around the newly formed JPMorganChase Athlete Council, will leverage the firm’s wealth management expertise and the insights of prominent sports figures to develop tailored financial resources. The Council will convene regularly with JPMorganChase leadership to identify the unique financial challenges athletes face at each stage of their careers – from college eligibility through professional play and into retirement.
“An athlete’s career and earning power are unique,” stated 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 assist them from college to professional sports to retirement.” Lemkau highlighted that the initiative aims to assist the more than 500,000 college, working, and retired athletes in avoiding common financial pitfalls.
Research indicates a significant demand for financial literacy among athletes. According to a study cited by JPMorganChase, nearly 65% of athletes report never having received financial education in school, underscoring the importance of accessible resources and planning support.
The Athlete Council will be chaired by three-time NBA champion and two-time NBA Hall of Famer Dwyane Wade. “Athletes face unique challenges and opportunities,” Wade said. “Having the right educational resources and guidance is critical to making smart decisions about money as your career evolves. 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.”
The Council’s membership includes a diverse group of accomplished athletes: Sue Bird, a WNBA champion and Olympic gold medalist; Tom Brady, a seven-time Super Bowl champion; Jalen Brunson, an NBA All-Star; Ally Love, a Peloton instructor and entrepreneur; Alex Morgan, a two-time FIFA World Cup champion; and Megan Rapinoe, a prominent figure in women’s soccer. (JustWomensSports.com)
JPMorganChase’s commitment to athletes extends beyond the Council. The firm is establishing an Athlete Center of Excellence, staffed by financial professionals with experience working with athletes. They are also expanding financial education outreach to universities and major sporting events, and launching a dedicated educational content hub at www.jpmorgan.com/ace, offering resources tailored to different phases of an athlete’s career.
Stevie Baron, Head of Private Client Banking at JPMorganChase, emphasized the firm’s goal to “truly empower the athletes of today — and tomorrow — with financial literacy throughout their career.” JPMorganChase is also the financial education partner for League One Volleyball (LOVB) and Hudl, a sports tech platform.