Advisors in the firm’s athletes and entertainers segment will work with current and retired players represented by the union.
The NFL Players Association (NFLPA) announced Tuesday that it has selected UBS Financial Advisors as an institutional financial advisor partner, allowing advisors in the firm’s athletes and entertainers segment to serve current and retired players represented by the union.
The NFL Players Association is the official union of professional football players in the National Football League, and the new collaboration is meant to help union members build stable financial futures and create lasting legacies, according to the two organizations.
In a joint statement detailing the new partnership, Jason Chandler, UBS’ head of global wealth management for the Americas, says the firm is “thrilled” to have been selected by the NFLPA.
“This program helps us continue to build on the work we do supporting current and former football players, providing the financial guidance they need to tackle the unique challenges of life in the NFL and planning for their future,” Chandler says.
As noted by Wale Ogunleye, head of the UBS athletes and entertainers client segment and a former NFL player, even successful and financially savvy athletes can make questionable financial decisions or listen to poor advice.
Their financial challenges include navigating sudden wealth, negotiating complex contracts, managing potentially sensitive family financial dynamics and much more. As such, establishing a relationship with a loyal and capable financial advisor can be critical to long-term success, especially given the shorter duration of the typical NFL career.
“We’re focused on making sure our clients have access to the advice and guidance they need to help them protect and grow their wealth and prepare for life off the field,” Ogunleye says.
Dana Shuler, senior director of the NFLPA’s player affairs department, calls the newly announced collaboration a “huge win” for the union’s player members and retirees.