Ally Love, Dwyane Wade, JPMorgan Wealth Management CEO Kristen Lemkau, Tom Brady, Aja Wilson, and Megan Rapinoe at the JPMorgan Chase Athlete Council on March 18, 2026.
Sean McMillan | CNBC
JP Morgan Chase It has hired some of the biggest names in American sports to tackle the deep-seated problem of professional athlete bankruptcy.
The bank announced Wednesday an initiative called the JPMorgan Chase Athletes Council, led by two-time NBA Hall of Famer Dwyane Wade and featuring notable athletes such as Tom Brady, Sue Bird, Alex Morgan, Megan Rapinoe, A’ja Wilson and Jalen Brunson.
The star athletes will meet with JPMorgan executives and support the bank’s Craft program, which serves athletes from college to professional life to retirement, according to a release from JPMorgan.
The move reflects growing competition among banks and wealth management companies to service athletes, with the most prominent athletes increasingly becoming entrepreneurs, investors and media personalities.
JPMorgan, the nation’s largest bank by assets, says most athletes receive no personal finance education in school, and their relatively short careers mean a narrow income range and require careful planning. According to the bank, about one in six NFL players declare bankruptcy within 12 years of retiring.
“I’ve heard the same thing over and over again: A lot of young athletes suddenly have money, they develop unsustainable lifestyles, they don’t always get great advice from those around them, and they’re lucky,” Kristin Lemkau, head of JPMorgan Wealth Management, told CNBC’s Leslie Picker on Wednesday.
Wade said in a release that the initiative gives athletes the opportunity to share their hard-earned experiences with the next generation.
“Having the right educational resources and guidance is critical to making smart decisions about money as your career evolves,” he said.
Tom Brady, Aja Wilson and Megan Rapinoe at the JPMorgan Chase Athlete Council on March 18, 2026.
Sean McMillan | CNBC
Wilson, a WNBA player, said it was important to her to be able to share her money management skills with the next generation of fellow professional athletes.
“We’re starting to turn the page and try to get the next generation of young people to understand that they need to build trust, build boundaries, and know exactly how they want to manage their money,” Wilson told CNBC.
The bank is also launching an Athlete Center of Excellence, staffed by financial professionals with sports experience, and a content hub with checklists for athletes navigating the name, image, and likeness (NIL) system and guides for organizing advisor rosters.
—CNBC’s Laya Neelakandan contributed to this report.
