26 Apr Gratus Capital’s Al Meadows Recognized as a Registered Financial Advisor by NFLPA
Gratus Capital Wealth Advisor Al Meadows, MBA, CFP®
Gratus Capital Wealth Advisor Al Meadows, MBA, CFP®, was recently designated a Registered Player Financial Advisor by the National Football League Players Association (“NFLPA”).
The NFLPA Player Financial Advisors Registration Program, the first of its kind in professional sports, provides NFL players access to financial advisors who have gone through a thorough review and qualification process by the NFLPA.
The program was created by the league’s players association to provide players with an additional layer of protection and access to a qualified group of financial advisors that have met certain eligibility criteria.
NFLPA Registered Player Financial Advisor Qualifications
According to the NFLPA, there are approximately 150 Registered Player Financial Advisors across the United States.
In 2017, the NFLPA, a Washington, DC-based organization that represents 1,700 players in the NFL, formally amended its financial advisor requirements to stipulate that all registered advisors hold either the Certified Financial Planner (CFP®) or Chartered Financial Analyst (CFA) designation.
As a Gratus Capital CERTIFIED FINANCIAL PLANNER™, CFP®, Al Meadows employs a holistic financial planning approach. With over 21 years of experience providing comprehensive financial planning and portfolio management services, Al works directly with his clients to develop a cohesive strategy to help meet their financial goals and objectives.
Al’s holistic approach addresses wealth management issues in the areas of retirement planning, investment management, education planning, tax and estate planning, business succession planning, corporate stock option planning, insurance, and charitable gift planning.
As a NFLPA Registered Player Financial Advisor, Al meets the appropriate professional qualifications to participate in the program. Below is a partial listing of the requirements as outlined by the NFLPA.
Unique Financial Needs of Professional Athletes
“The registration process with the NFLPA was extensive, and rightfully so. Too many professional athletes are taken advantage of financially,” Al said. “They need to have a personalized game plan off the field with a strategy that serves their unique needs.”
In 2009 and 2015, Sports Illustrated and Forbes reported that 80 percent of retired NFL players come close to or experience significant financial stress, causing them to go broke in their first three years out of the League despite the fact that NFL players make an average of $1.9 million per year.
In recent years, the NFLPA has made financial education one of its priorities, as a lack of competent financial planning has been a constant among players under financial stress. The NFLPA holds mandatory financial seminars for draft picks and suggests that players use NFLPA-approved financial planners.
“These guys are financially vulnerable as soon as they sign their first contract,” Al said. “An advisor should be able to offer expertise across multiple planning areas in order to help manage the unique risks that professional athletes face throughout their careers.”
About Gratus Capital, LLC
Gratus Capital is a consultative wealth manager focused on serving successful individuals, families, foundations, endowments, and other institutions nationwide. We offer comprehensive financial planning and active portfolio management. Clients benefit from having a dedicated team focused on providing invaluable counsel, recommending intelligent, custom solutions, and upholding fiduciary standards. Contact us today to learn how we can help you reach your financial goals.
The NFLPA is not endorsing any Registered Player Financial Advisor and is not responsible for, and disclaims, any liability for the acts or omissions of any Registered Player Financial Advisor. The NFLPA is also not responsible for, and makes no representation concerning, the skill, honesty, or competence of any Registered Player Financial Advisor or any other person. Registered Financial Advisors submit an application fee and a membership fee. All fees collected by the NFLPA are used exclusively to defray the operating costs of the non-profit Financial Advisor Registration Program.
Gratus Capital is an SEC-registered investment adviser. Registration with the SEC does not imply any level of skill or training. Our ADV documents are available upon request. The above article does not give personalized tax, investment, legal or other professional advice. Before taking any action, you should always seek the assistance of a professional who knows your particular situation for advice on taxes, your investments, the law, or any other matters that affect you or your business.