Edyoucore, a four-year-old company created to provide financial wellness assistance to professional athletes and entertainers, is expanding its services to include financial literacy consulting services to help clients cope with the mental health stresses presented by their professions, the firm announced recently.
The NFL’s Baltimore Ravens have signed on to be the first team to provide the financial literacy services to its players.
“With many athletes and entertainers speaking openly about the pressures, stresses and ups and downs of financial success on their overall mental health, Edyoucore felt it was time to expand its programming and place a greater emphasis on a player's overall well-being,” Edyoucore said.
The firm said it had “determined that one of the key factors needed for financial literacy is addressing the role that finances play in an individual's overall mental health,” said the firm, which is based in Pasadena, Md.
Edyoucore was founded by Drew Hawkins, president of the firm, who spent nearly three decades at Morgan Stanley and built the Morgan Stanley sports and entertainment practice. Edyoucore was designed to help prepare players and entertainers for success during their careers and after, the firm said. The firm created the mental health arm of the practice to help clients “navigate the mental impacts of their financial success by addressing key issues like relationship challenges, self-worth issues and external pressure to consistently perform,” Hawkins said in a statement.
The mental health program will include the following topics: "Understanding the Impact of Finances on Your Mental Health"; "Sustaining Your Value as It Relates to Your Finances"; and "Activating Boundaries around Both Your Finances and Your Overall Mental Health."
Edyoucore works with teams, universities and professional organizations. “We connect the dots around financial stresses and guide our clients on how to make the best long-term financial decisions. Our staff is composed of athletes, entertainers, financial literacy and mental health professionals who can provide wrap-around guidance around the often-sensitive topic of finances,” Edyoucore said.