9/12/23 – New Financial Education Might Signal Next Generation of NIL Tools
- September 12 2023
- By: info@njcfe.org
- 0 Comment
New Financial Education Might Signal Next Generation of NIL Tools
August 29, 2023 | sportsbusinessjournal.com
I’ve been planning for months to write about greater financial education for student athletes. The NIL era has amplified the interest in financial literacy, but my surveys are a monthly reminder of the challenge and opportunity in front of us:
• Nearly three-quarters of student athletes are “interested” or “very interested” in financial literacy.
• Student athletes report that their financial views are mostly informed by (and I’m not kidding): TikTok.
• While student athletes are allowed to hire professional service providers, including financial advisers, only about 5% do.
Now the news: Earlier this month, Morgan Stanley Global Sports & Entertainment launched a platform called Money in the Making. Based on what I’ve seen, I’m optimistic that NIL may have its first expertly developed, affordable, and scalable solution for student athletes.
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