JPMorgan Chase is getting into the game, teaming up with some of the biggest names in women's sports to help athletes manage their money from college through retirement.
The financial services giant launched its Athlete Council last week, bringing together sports icons like USWNT legends Alex Morgan and Megan Rapinoe, four-time WNBA MVP A'ja Wilson, and retired WNBA superstar Sue Bird to serve on the nine-athlete panel.
The Council will "guide the development of programs" that JPMorgan Chase will implement to address "the unique financial needs of athletes."
"An athlete's career and earning power are unique," said JPMorgan Wealth Management CEO Kristin Lemkau in Wednesday's press release. "Careers can be short and retirement unexpected."
According to reports, less than 2% of NCAA athletes turn pro and, of those who do, most retire before age 35 — all while 65% of athletes report never receiving financial education in school.
As part of the initiative, JPMorgan Chase is also spearheading the Athlete Center of Excellence, with programming "built for athletes, guided by athlete experience."
The establishment of the Athlete Council is just the latest foray of the firm into women's sports, with JPMorgan Chase already serving as the financial education partner for second-year pro volleyball league LOVB.
"Our goal is to truly empower the athletes of today — and tomorrow — with financial literacy throughout their career," said JPMorgan Chase Head of Private Client Banking Stevie Baron. "We are excited to partner with some of the nation's top athletes to deliver a fully integrated experience."
