Bernstein Private Wealth Management, a unit of AllianceBernstein L.P., will offer financial advice services to current and former NFL players as a participant in the institutional program of the National Football League Players Association, the firm announced today.
“We are excited to welcome Bernstein as our newest participant in the NFLPA’s financial institution program,” Dana Hammonds Shuler, senior director of player affairs at the NFLPA, said in a news release. “Bernstein’s strong track record and expertise will go a long way in equipping our player members with the resources and guidance necessary to navigate their unique financial situation, both during and after their playing careers.”
Bernstein will be among a select few advisory firms registered by the NFLPA to work with its network of nearly 5,000 athletes.
Institutional participants in the program are selected based on their reputation and range of service offerings that meet the specific needs of the players. These firms designate and monitor participating advisors who must meet specific criteria and follow a code of conduct.
The NFLPA created the Financial Advisor Program in 2002 to help clients access services that include financial planning, investing, and tax and estate planning. Over the past year, the organization has updated its policies to vet financial institutions for the program, rather than individual advisors.
“We look forward to working with the NFLPA to further help the current and former players protect and grow their wealth, as well as ensure their investments are aligned with their personal values toward social and environmental change,” Adam Sansiveri and Stacie Jacobsen, co-heads of Bernstein’s Sports and Entertainment Group, said in a prepared statement.
Bernstein’s Sports and Entertainment Group was created in 2012 to focus on the long-term investment strategies and wealth management needs of athletes, coaches, entertainers, artists, media executives and entrepreneurs. It manages more than $3.5 billion across its U.S. regional offices.
Last month, the group launched a podcast, The Big Stage, which features interviews with athletes, entertainers and industry leaders to provide listeners with inside access to their profession, which can be heard here.
Founded in 1967, Bernstein Private Wealth Management is headquartered in Nashville, Tenn., and managed $86 billion in assets as of March 31, 2020.