Accredited Program Designed to Help Advisors Serve the Needs of Clients in the Sports and Entertainment Industries; Exclusively Available to Merrill Advisors for One Year

College for Financial Planning^®—A Kaplan Company and Merrill Lynch Wealth Management today announced the creation of a new designation program for wealth advisors serving the specialized financial needs of professionals in the sports and entertainment industries. The Sports & Entertainment Accredited Wealth Management Advisor^SM or SE-AWMA^SM program is a first-of-its-kind professional designation from an accredited college that is designed to provide advisors with the training and knowledge to help these high-net-worth clients grow, preserve, and transfer their wealth.

The financial challenges faced by individuals and families navigating sudden wealth in the sports and entertainment industries are well documented. According to the book F.L.A.G. (Fraud, Lies and Greed), 80% of NFL players and 60% of NBA players face bankruptcy or serious financial stress within two years of retiring from the league, while MLB players are four times more likely to file for bankruptcy than the national average.¹

“The distinct financial challenges that sports and entertainment professionals possess over their careers are the very reasons why they need a financial advisor who is qualified to address those challenges,” said Dirk Pantone, President of the College, which is accredited by the Higher Learning Commission. “From a sudden-wealth event to an uneven or multiple income stream to an unknown career span, these professionals have added complexities in their financial lives and goals. We designed the SE-AWMA^SM program to utilize real-world client situations and case studies to illustrate planning techniques and strategies that are instantly applicable to servicing client needs.”

The SE-AWMA^SM program will provide 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.

“Merrill has a long history of serving the complex needs of clients in the sports and entertainment industries through every stage of their career and life, as well as over multiple generations,” said Don Plaus, head of Merrill Private Wealth Management, which serves the needs of wealthy individuals, families, and their businesses through highly specialized private wealth advisor teams. “We are delighted to be a part of the creation and rollout of this new designation. Together with the services and capabilities of Bank of America and Merrill, we can help those in the sports and entertainment industries reach their financial goals.”

The College for Financial Planning^® provides a digital learning platform to access course materials and study tools – with a choice of live, online or on-demand classes – 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 PLANNER^TM certification and a Master of Science degree in Personal Financial Planning.

As recognition for Merrill’s collaboration on the design of the SE-AWMA^SM program, the College is offering it exclusively to Merrill advisors through May 2022. In conjunction with the launch of the SE-AWMA^SM program, Merrill has created an internal Sports and Entertainment group in order to better support advisors who focus on clients in these industries.

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 PLANNER^TM certification, which is now the world's most recognized and respected financial planning credential with more than 88,000 certified professionals.

In addition to its CFP^® Certification Professional Education Program, the College also offers a master’s degree in personal financial planning and 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 174,000 students have graduated from the College’s programs. For more information, visit www.cffp.edu.

¹ F.L.A.G. (Fraud, Lies and Greed), by Antony E. Ghee, Mynd Matters Publishing, 2017, p. 20.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210517005133/en/