It’s been nearly 2 years since the NCAA implemented its policy allowing college athletes to make money off their name, image, and likeness (NIL), but plenty of confusion remains about the policy—not only among the general public but particularly among student athletes who may be impacted.
To address this issue, this week financial wellness pioneer Financial Finesse announced the launch of NIL Long Game—a comprehensive online financial literacy certification program available at no cost to colleges, universities, and student athletes across the United States.
NIL allows athletes to make endorsement deals, cash in on social media, and get paid for such things as making personal appearances, signing autographs, and even endorsing political candidates. But like their non-athlete peers, many student athletes lack the financial literacy skills to help them realize the wealth building potential of NIL.
The new NIL Long Game from Financial Finesse addresses this knowledge void that threatens to leave them at risk of financial downfall and large tax bills they cannot afford. It was created to prepare college athletes for this unintended “dark side” of NIL and equips them with the tools needed to maximize deals, prepare for the future, and navigate financially uncertain times.
“We can truly change the financial landscape of an entire generation by supporting this group of incredibly talented, disciplined, determined student athletes to manage their money with the same degree of intention they apply to competing in their sports”
Liz Davidson
With the move, Financial Finesse is expanding its reach from employees to college students, leveraging its philanthropic arm to set in motion a powerful ripple effect of positive financial practice among the next generation to enter the workforce.
“We can truly change the financial landscape of an entire generation by supporting this group of incredibly talented, disciplined, determined student athletes to manage their money with the same degree of intention they apply to competing in their sports,” said Liz Davidson, Founder and CEO of Financial Finesse and author of the newly released book, Money Strong: Your Guide to a Life Free of Financial Worries. “Collectively, student athletes have over 50 million followers, including most of the 14 million students in college today, who look up to them as role models. This is just the springboard for restoring upward mobility to Gen Z, and a driving force behind why we built and are donating NIL Long Game.”
Davidson hosted a media briefing earlier this week to launch NIL Long Game, along with Tampa Bay Buccaneers linebacker and fintech entrepreneur Carl Nassib (who is also a Financial Finesse Ambassador). The briefing also included J.R. Tolver, former NFL Player, CEO of The Athlete LLC, and Executive Director of Aztec Link, San Diego State University’s NIL Collective; Adam Jaggers, CEO, Athlete Licensing Company; Rayquan Smith, two-sport Norfolk State University athlete and the “King of NIL” (with 70+ brand deals); and Florida International University soccer player Reagan Bridges.
“Getting a handle on the basics of personal finance can be a game changer—especially for athletes in this new NIL era,” Nassib said. “When it comes to wealth, it’s not about what you make; it’s about what you keep. That’s why the launch of Financial Finesse’s NIL Long Game is so important.”
In a statement, Financial Finesse said the three-module NIL certification program—designed to meet proposed and current state-mandated financial literacy requirements—provides a robust learning experience that integrates expert guidance from experienced CFP professional financial coaches, pro athletes turned entrepreneurs, NIL industry leaders, and college students who have already cashed in on deals. The course also includes an ever-growing library of downloadable resources on topics spanning tax liabilities, money management, credit, and more.
Financial Finesse has longstanding financial coaching relationships with major sports leagues and has built a strong coalition of professional athletes, universities, influencers, and associations in support of NIL Long Game.
“Since partnering with Financial Finesse, we have seen a complete culture shift and a growing number of pro players advocating for financial literacy,” said DeMaurice Smith, Executive Director, National Football League Players Association.“Now, it’s time to arm the next generation of rising stars with the same financial tools and know-how. I can’t think of a more impactful way of doing this than by supporting the widespread adoption of this well-rounded NIL financial literacy certification program.”
“It’s there to help student athletes who are operating and pursuing revenue associated with their name, image and likeness, be the best business owner they can be.”
J.R. Tolver
Hand in hand with Financial Finesse’s donation of NIL Long Game, now available to all 520,000+ U.S. student athletes, is a call for athletic departments to apply for a giveaway of 5 years of unlimited personal financial coaching, delivered by its team of financial coaches who have extensive experience working with major professional sports leagues and unions. Ten schools will be chosen based on their exceptional commitment towards NIL education. In addition, Financial Finesse has also entered into a partnership with Athlete Licensing Company to bring its personal financial coaching service to some of the nation’s most successful student athletes.
“All of the greatest athletes in the world had a coach in their sport; NIL Long Game is more like a financial coach,” said NIL Long Game contributor Tolver. “It’s there to help student athletes who are operating and pursuing revenue associated with their name, image and likeness, be the best business owner they can be.”
SEE ALSO:
• Liz Davidson: Opening New Doors
• Employee Financial Literacy Gets Gamification Treatment
Veteran financial services industry journalist Brian Anderson joined 401(k) Specialist as Managing Editor in January 2019. He has led editorial content for a variety of well-known properties including Insurance Forums, Life Insurance Selling, National Underwriter Life & Health, and Senior Market Advisor. He has always maintained a focus on providing readers with timely, useful information intended to help them build their business.
