Want Your Clients to Invest More? Educate Them, Ex-NFL Linebacker Says

While many financial advisors have dismissed the effort as a bother, it is indeed worth an advisor’s time to teach clients new to investing what it’s all about.

So says Brandon Copeland, a former NFL linebacker who teaches financial literacy at his alma mater, the University of Pennsylvania, in an interview with ThinkAdvisor.

“When you’re doing a great job and educating your clients, it only makes them want to invest more and, hopefully … have more assets they can hand off to you to manage,” Copeland maintains.

Copeland, whose 10-year NFL career included stops with the New York Jets and Detroit Lions, retired before the 2023 season. The CEO of Athletes.org, the players association for college athletes, writes about investing — “You need to play a lot of offense and really tough defense,” he says — in the upcoming book, “Your Money Playbook: How to Earn More, Build Wealth and Win at Life.”

In the interview, Copeland reveals why he took his mother out of target-date funds and into an aggressive mix of stocks and fewer bonds. He also unpacks what he misses about playing football and why he has zero interest in being a financial advisor.

Here are highlights of our conversation:

THINKADVISOR: Please compare playing football with investing in the securities markets. 

BRANDON COPELAND: Every NFL team has a game plan and a scouting report so you know your opponents before the game. You just don’t show up on Sunday and start calling plays.

Investing and managing your money, you need a plan too. It will help you stay true during times of chaos in the markets. 

A plan allows you to have a better chance without getting emotional.

Is this as easy as it sounds?

It’s not foolproof: Teams choke in the fourth quarter on the football field all the time. And it happens with investors too. 

But having a game plan is one way to help make sure you’re as intentional as possible with all your financial decisions.

OK, but what’s a big investing trap?

One of the traps and, even more so in creating wealth, is debts.

If you’re paying high-interest-rate debts and investing your money, will you be able to get returns on the capital you’ve invested? Or are you losing money every single year? 

You need to be sure your financial affairs are in order so you’re not losing money when you invest.

“Diversification is … the defense to your offense,” you write. Please elaborate.

If you’re over-allocated in one particular asset or asset class, or one stock, that can truly hurt you during various periods of time.

Diversifying your investments, along with investing in ETFs or index funds, as opposed to a single name, gives you a stronger foundation when the chaos of the market presents itself. 

What advice do you have for financial advisors working with young clients or others new to investing?

If you have a client that’s looking to be educated, it’s awesome to try your best to educate them with the approach that’s best for how their brain works.

I mean, not everyone can look at a spreadsheet and financial reports and see the world the same way a financial advisor does.

So you may have to meet them [where they are] with videos, and virtual learning sessions and other ways. 

Teach them according to where they are on the learning curve so they can continue to develop their understanding.

What’s the chief benefit to the advisor of doing that?

Years ago, some financial advisors looked at educating clients as a negative thing. They didn’t necessarily want to deal with the hassle. 

But when you’re doing a great job and educating your clients, it only makes them want to invest more and, hopefully, makes them stronger financially and have more assets they can hand off to you to manage.

Tell me the main reason some pro athletes go broke, and how can that be avoided.