With professional football training camps in full swing, the 5,000-strong NFL Players Association has added Morgan Stanley to the roster of its official financial advisor program.
The news comes about one month after AllianceBernstein was tapped for the group’s institutional program, joining Goldman Sachs and Bessemer Trust. There also are more than 150 individuals in the NFLPA’s Financial Advisors Registration Program.
“As players continue to navigate the challenges presented by the pandemic, this [addition of Morgan Stanley] could not come at a better time to help them build financial security,” according to Dana Shuler, NFLPA senior director of Player Affairs.
The NFL-relations program for individual advisors requires that they be certified financial planners and/or chartered financial analysts with eight years of licensed work experience or more.
Institutional participants are picked after a review of their reputation and service offerings; each institution must monitor participating advisors meeting specific criteria and adhering to a code of conduct.
Morgan Stanley’s NFL Roots
Several Morgan Stanley advisors started advising members of the NFLPA, which includes current and retired players, in 2002. It now has about 50 advisors with the program designation.
“We look forward to working alongside the NFLPA to offer support to current and former NFL players alike,” said Sandra L. Richards, head of Morgan Stanley Global Sports & Entertainment, in a statement.
This business, which has some $100 billion in client assets under management, was launched in 2014.
It has worked, for instance, on financial literacy programs in concert with some collegiate and professional teams,” Richards added.