JPMorgan Takes NIL Finance Lessons to Locker Rooms as College Athlete Pay Nears $4.5 Billion
Updated
Updated · Business Insider · Jul 19
JPMorgan Takes NIL Finance Lessons to Locker Rooms as College Athlete Pay Nears $4.5 Billion
1 articles · Updated · Business Insider · Jul 19
Summary
$4.5 billion in NIL earnings is projected for the coming academic year, driving JPMorgan to send wealth planner Mikael Lemieux into college locker rooms for 45- to 60-minute finance sessions.
JPMorgan's Athlete Center of Excellence, launched in March, frames the talks around the athlete as CEO and covers investing, taxes, advisors, brand deals and family money pressures.
Lemieux said he has taken 30 flights in roughly two months, often appearing with New York Giants linebacker Kayvon Thibodeaux to win credibility with players newly earning significant money.
The push reflects a wider Wall Street race after the NCAA's 2021 NIL shift, with Merrill, Wells Fargo and Morgan Stanley also building sports-focused teams to reach future high-net-worth clients early.
With college athletes now earning millions, are they prepared for the complex financial reality of taxes and investments?
Is Wall Street's locker room advice genuine education or a play for securing future high-net-worth athlete clients?
As banks guide NIL wealth, who is truly protecting the young athlete's long-term financial future from predatory advice?
JPMorgan Launches Athlete Council to Combat Athlete Bankruptcy and Lead NIL Financial Education
Overview
JPMorgan Chase launched the Athlete Council in March 2026 to address the financial challenges athletes face, such as a lack of financial education and the unique demands of their short careers. Many athletes do not learn personal finance in school, so when they suddenly acquire substantial wealth, they can develop unsustainable lifestyles or get poor financial advice. This often leads to serious problems, like the high rate of bankruptcy among former NFL players. The Athlete Council aims to create programs that help athletes make smarter financial decisions throughout their careers, using real experiences from top athletes to guide the next generation.