Morgan Stanley has been designated as an official Institutional Financial Advisor participant of NFL Players Association (NFLPA), which is a labour union representing NFL players.

The move will enable Morgan Stanley Global Sports & Entertainment (GSE) to supervise the financial advisers offering guidance to NFLPA members.

Established in 2014, the GSE unit caters to professional athletes and entertainers.

The alliance between Morgan Stanley and NFLPA dates back to 2002, when the bank’s advisers started to provide financial advice to NFLPA members.

Morgan Stanley GSE head Sandra Richards said: “Athletes and entertainers can often times have unique financial circumstances and the focus of our Global Sports & Entertainment team is centred on delivering financial guidance and solutions that recognise that fact.

“Our Financial Advisers’ experience in working with athletes and entertainers will help prepare our clients to create strategies for sustained financial wealth.”

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By GlobalData

Introduced last year, NFLPA’s Institutional Financial Advisors Registration Program enables the players to get access to advisers affiliated with leading financial providers.

The industry capabilities of the institutional participants play a crucial role in their selection.

The participants’ range of offerings and whether they meet the unique requirements of the NFL players is also a vital parameter in the selection.

NFLPA senior director of Player Affairs Dana Shuler said: “As players continue to navigate the challenges presented by the pandemic, this could not come at a better time to help them build financial security.”

Recently, Morgan Stanley expanded its offering for HNW clients and their families by providing property & casualty (P&C) insurance.