by Joe Wilhelm Jr.
Staff Writer
During an 11-year career as an offensive lineman in the NFL his job was to help his team by controlling the line of scrimmage, and now he is using that experience to help football players control their financial future.
Former Jaguars center Dave Widell, 43, is a partner with the Cowford Group of Citi Smith Barney and assists clients with wealth management. He has been with the firm since 2005, but this will be the second year that he will combine his knowledge of finance and professional football.
“I wish I was guided through the process when I was drafted in the fourth round in 1988,” said Widell. “Families need information to make the best decision for their son’s futures. My experience as an 11-year veteran of the NFL gives me the life experience to talk about the process of the draft, finding an agent and avoiding the pitfalls and traps that are out there.”
Widell was drafted by the Dallas Cowboys and started his first year in the league. He played for the Cowboys for two years before signing with the Denver Broncos in 1990. The team made it to the Super Bowl during his first year, but lost to the San Francisco 49ers. Five years later, he became a member of the first Jacksonville Jaguars team, where he played for three years before retiring as a member of the NFC Champion Atlanta Falcons in 1998.
Those years of experience will allow Widell to offer a better service to junior and senior college players preparing for the NFL draft, he said. The Financial Industry Regulatory Authority has just over 663,000 registered representatives as of January of this year.
“I’ve been there. I’ve had bad financial advice and agents that didn’t do it right, and others who did,” said Widell. “It’s about gaining the confidence of the kids so they can ask the right questions about their future.”
Widell may have satisfied his “itch to get back in the locker room” through jobs as a sideline reporter and radio host, most recently filling in for AM-930’s Pete Prisco last year, after retiring from the Jaguars. But, the financial advisor service puts him back side-by-side with players rather than face-to-face as a reporter or sports radio host.
Widell has started to prepare for NFL Draft Day by developing relationships with players at different functions in the region. He has talked to players who attended the Gator Bowl and Senior Bowl in Alabama to find out what their thoughts are on the draft.
“When I talked to B.J. Raji (Boston College defensive tackle) at the Senior Bowl this year he wasn’t concerned with (municipal) bonds or asset allocation,” said Widell. “Once he learned that I was a former lineman he wanted me to sit down with him and watch film and tell him how he could get better.”
There isn’t anything wrong with sitting down and talking about technique and the draft, according to the NCAA. Under NCAA Bylaw 12.3, “It is not a violation of NCAA rules if a student-athlete merely talks to an agent (as long as an agreement for agent representation is not established) or socializes with an agent.” For example, a student-athlete could go to dinner with an agent and no NCAA violations would result if the student-athlete provided his own transportation and paid for his meal.
The term “agent” includes actual agents, runners (individuals who befriend student-athletes and frequently distribute impermissible benefits) and financial advisors.”
While a player’s focus may be on preparing himself on the field for draft day, there are other areas of life that may get forgotten during the process, Widell warned.
“There is not enough information out there for the families and the athletes when it comes to the pre-draft process,” said Widell. “It’s far more than who you are going to select as an agent. It’s about finding out from your school about the NCAA-provided disability coverage for guys that are the top players, like the Matt Staffords of the world. If the school isn’t doing a good job with their due diligence in presenting those options to the families they’re not able to fully protect their sons against a disabling injury during their final season of eligibility.”
Another example of preparation for life in the NFL is preparing different insurance policies.
“Some kids entering the draft may still be on their parents’ auto insurance,” said Widell. “They need to protect themselves once they sign that million dollar contract because what happens if they get into an accident and they don’t have the proper coverage? They could lose a major portion of that contract in a lawsuit.”
While his eye may be on the new players coming into the NFL, Widell still spends time with former teammates and Jaguars fans through the Jaguar Alumni Group (JAG) Ambassador program. It consists of a group of about 15 former players who represent and support the Jaguars at functions at the stadium and in the community.
“Dave is an asset to the program because he has the ability to connect with people regardless what they do or where they are from,” said Mike Hollis, a former Jaguars kicker. “He’s very outgoing and very likable, and that helps him to be the successful man that he is.”
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