In order to negotiate contracts that maximize your earning capacity and capitalize on your NIL, etc., consider getting represented by one of the biggest US agencies. Generally speaking, the larger the agency the more power they have and the better terms they can negotiate on your behalf. Here is a selection of US based companies providing agency services to sports professionals around the world:
A3, AMG, Athletes First, Beverly Hills Sports Council, Boras, BTI, CAA, Distinction Agency, Eastern Athletic Services, EMG, Excel Sports Management, First Round, IFA, ISE, GSE, K Sports, Maxx Talent, MDR, MS World, Range Media Partners, Roc Nation, SportFive, Turner Gary, Wasserman, WME.
Note some of these agencies above focus on just one or two sports. These companies proactively reach out to athletes to sign them early in their careers, so the choice on who to work with may be pretty clear, but making new connections never hurts. Compared to finding representation, finding a financial advisory firm that can assist with investing and other financial decisions may be a tougher choice.
There are over 300,000 financial advisors in the US. When choosing who to work with consider that only one in ten advisors is a fiduciary. A "fiduciary" is a financial advisor that is an SEC-registered investment advisor who is legally obligated to act in the best interest of their clients, e.g. by putting their clients' interests ahead of their own - and even ahead of the firm they work for.
Below is a list of US fiduciary firms that have teams dedicated to Sports & Entertainment. The firms indicated by * have a mandate from the NFL Players Association to work with NFL athletes.
Alliance Bernstein in Nashville*
Bessemer Trust in NYC*
Creative Planning in Kansas
Goldman Sachs in NYC*
Merrill (Bank of America) in NYC
Morgan Stanley in NYC*
North Star in Chicago
RBC in NYC
Truist in Charlotte
TSG in California
UBS in NYC*
Wells Fargo Advisors in St Louis
Over and above working with fiduciary advisors, the NFLPA requires that any individual advisors working with NFL players must hold either the CFA or CFP certification. These are both tough professional designations that require financial professionals to undergo a rigorous course of study, obtain years of licensed experience and pass academic exams/ethics tests/background checks, etc.
The CFP or Certified Financial Planner certification is the gold standard in financial planning education. In the US, the CFP program culminates in one 170-question exam that advisors need to pass in order to use the designation. The CFA or Chartered Financial Analyst program, on the other hand, prescribes much broader knowledge than the CFP curriculum and consists of three exams over three years. It is the gold standard worldwide when it comes to investment credentials and is the most sought after credential by Private Equity and Hedge Fund managers. Furthermore, in 2024 the CFA Institute announced a new Private Wealth specialization pathway where the CFA coursework is tailored to prepare financial advisors for the unique financial planning needs of high-net-worth individuals.
To narrow your list of potential advisors down even further, consider looking at those that also have the SE-AWMA ® designation. The Sports & Entertainment Accredited Wealth Management Advisor designation is the only US professional designation from an accredited institution that purposefully prepares advisors to address the sophisticated financial planning needs of sports professionals. You will find individual fiduciary advisors with SE-AWMA and CFA (or CFP) at the advisory firms listed above.
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