Just as Americans are often referred to as our “Transatlantic cousins”, the relationship between rugby and American football is similarly familial.
American football originally evolved from the English games of rugby and football (or “soccer”). This explains why the sport is an amalgamation of the two, combining the 11 players on either side of soccer teams, with the nuanced rules and exciting physical aspects of rugby.
Yet, while the sports share some similarities, one big difference between the two is that the NFL Players Association (NFLPA), the American football equivalent of the RPA, offers professional players access to financial advice.
Known as the “NFL Players Association’s Financial Advisors Registration Program”, this list provides players access to pre-agreed, background-checked advisers.
While you might not be able to use the NFLPA Financial Advisors Registration Program as a rugby player, the fact that it exists goes to show how important it is for you to work with a trusted adviser.
Find out why, and how we can help you at DBL.
Financial advice can help you manage your money safely away from scams
Just like American footballers, you could be at higher risk of facing a financial scam as a rugby player. Thanks to your public profile and the wages you can earn, bad actors may well seek to exploit you and attempt to profit off your success and hard work.
This is why it is crucial to work with an adviser you can trust, knowing that they are acting in your best interests to help you manage your wealth, both for now and life after rugby.
When you work with us at DBL, you can be confident that we are an upstanding and professional firm. We are authorised and regulated by the Financial Conduct Authority, and have a great deal of experience working with rugby players to help them achieve their financial goals.
Athletes have specific financial needs
Aside from scams, the Registration Program also exists to help NFL players with the unique financial challenges athletes face.
The nature of your career means that you have different needs compared to those in other professions. For example, you have to contend with:
- Access to greater wealth from a young age. At the start of your career, it can be tempting to enjoy your wealth, rather than making sensible, long-term financial decisions.
- Increased risk of injury and illness. As you put your body on the line to earn your living, you could be more susceptible to an injury or illness. If you were unable to play rugby for a prolonged period, this could affect your ability to earn.
- Two retirements. You essentially have two retirements; one when you hang up your boots, and another if you decide to fully retire at the end of a second career.
These circumstances make it even more important to work alongside a professional. By having an experienced and knowledgeable individual in your corner, they can help you to put good habits in place so that you save money right from the start of your career.
They can also help you to put the right protection in place in case of injury and illness, and support you as you navigate your two retirements.
Crucially, as a result of the unique challenges listed above, it is vital to work with an adviser who understands your sport.
We explained this in another article, in which we described how a financial adviser who understands rugby can develop a plan that reflects your circumstances, supporting you throughout the highs and lows of a rugby career.
At DBL, we know the different roadblocks you might face, financial or otherwise. This is what allows us to build you a plan that includes all those aspects above and more, ensuring that you are financially secure for both now and the future.
Get in touch
If you are a professional rugby player who would like help managing your wealth, then please do get in touch with us at DBL Asset Management.
Email enquiries@dbl-am.com or call 01625 529 499 to speak to us today.
Please note
This blog is for general information only and does not constitute advice. The information is aimed at retail clients only.
Note that financial protection plans typically have no cash in value at any time and cover will cease at the end of the term. If premiums stop, then cover will lapse. Cover is subject to terms and conditions and may have exclusions.
