Professional athletes are often targeted by people who want to take advantage of their good fortune. Family, friends and strangers all gravitate to them with their hands out. It is hard to say no and it is very easy to trust people you have known all your life over business professionals you just met.
That's why the National Football League Players Association started its Registered Player Financial Advisor program 10 years ago. It wanted to ensure that its athletes were not being taken advantage of and had someone with a good reputation helping them plan for their futures, pay their bills and save for retirement.
Advisors who want to participate in the program must pay an initial $2,000 application fee and $500 a year thereafter. They must have been a practicing financial advisor for a minimum of five years and have no complaints or lawsuits filed against them because of financial decisions they made.
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