CENTENNIAL, Colo.--(BUSINESS WIRE)--Athletes and entertainers today have increased opportunities to earn more money than ever before and at an even earlier age. To help those involved in their careers manage their wealth, the College for Financial Planning®—A Kaplan Company now offers specialized training with its Sports and Entertainment Accredited Wealth Management AdvisorSM or SE-AWMASM program, designed for financial planners, but also valuable for agents, lawyers, administrators, coaches, and other supporters.
The SE-AWMASM is a first-of-its-kind professional designation from an accredited college, which is designed to provide the specialized knowledge to help these high-net-worth clients grow, preserve, and transfer their wealth. For the past year, the program was exclusively available by agreement to employees of Merrill Lynch Wealth Management, but enrollment is now available to anyone.
Within the past year, the NCAA has begun allowing college athletes to monetize their name, image, and likeness, leading to a wider audience facing distinct financial planning issues. Additionally, social media has created pathways for sudden wealth to be earned by an increasing number of entertaining and enterprising young people.
From uneven and multiple income streams to an unknown career span, the financial challenges faced by individuals and families in the sports and entertainment industries are well documented. In February, Craig Brown, an NKSFB Sports Business Division partner, told FOX Business' "Mornings with Maria" that 78% of professional athletes will go broke after just three years of retirement.
“Sports and entertainment professionals face unique financial complexities over their careers, which is why they need a financial advisor who is qualified to analyze and evaluate planning strategies that address their specialized needs,” said Dirk Pantone, President of the College, which is accredited by the Higher Learning Commission. “Money management issues go beyond youthful inexperience when you consider how many veterans struggle with personal expenses and maintaining an unsustainable lifestyle. We designed the SE-AWMASM program to utilize real-world client situations and case studies to illustrate planning techniques and strategies that are instantly applicable to servicing client needs with growing, preserving and transferring wealth.”
The SE-AWMASM program provides participants with knowledge of how to analyze and evaluate numerous wealth planning strategies, including qualitative planning, trusts, investments, retirement benefits, cash flow and tax planning, business and estate planning, and how to customize plans and solutions for each client’s unique circumstances.
The College for Financial Planning® provides a digital learning platform to access course materials and study tools as well as experienced, expert faculty who provide personalized guidance in and outside of the classroom. The coursework also provides credits toward other education programs through the College, including their education program for CERTIFIED FINANCIAL PLANNERTM certification and a Master of Science degree in Personal Financial Planning.
About the College for Financial Planning
Founded in 1972, the College for Financial Planning®—A Kaplan Company provides accessible and flexible degree, non-degree, and continuing professional education programs to students nationwide. Shortly after its founding, the College introduced the CERTIFIED FINANCIAL PLANNERTM certification, which is now the world's most recognized and respected financial planning credential with more than 92,000 certified professionals.
In addition to its CFP® Certification Professional Education Program, the College also offers a master’s degree in personal financial planning and financial analysis, and professional designation programs that provide more in-depth knowledge of the finance industry, with specializations ranging from asset management and retirement planning to sustainable, responsible, and impact (SRI) investments. The College for Financial Planning is accredited by the Higher Learning Commission and is a member of the North Central Association. More than 195,000 students have graduated from the College’s programs. For more information, visit www.cffp.edu.