NIL Success Strategy: Do Student-Athletes Need an Agent, a CPA, or Both?
Navigating the Name, Image, and Likeness (NIL) landscape is a game-changer for NCAA student-athletes. With new income streams come new responsibilities—especially when it comes to legal, financial, and compliance matters. One of the most common questions we hear at PMG PRIVATE NIL is: “Do I need an agent, a CPA, or both?”
Here’s what you need to know to make a smart, strategic choice.
Understanding the Roles: Agent vs. CPA
As NIL opportunities continue to evolve, student-athletes are finding themselves juggling business decisions that go far beyond the field or court. Two key professionals often come into play: agents and CPAs. While both offer valuable services, their roles are distinct and serve different aspects of your NIL journey. Understanding who does what—and when you need their help—can make a significant difference in how you grow and protect your income. In this section, we’ll break down the unique responsibilities of NIL agents and CPAs, so you can make informed decisions about building your team and managing your financial future effectively.
What Does an NIL Agent Do?
An NIL agent plays a crucial role in helping student-athletes capitalize on their name, image, and likeness by securing endorsement deals and sponsorship opportunities. These professionals work to enhance your visibility, connect you with reputable brands, and ensure that you’re being fairly represented in all business dealings. They often handle contract negotiations, assist with branding strategies, and manage public relations to strengthen your overall marketability. The primary goal of an NIL agent is to maximize your earning potential while protecting your reputation. However, it’s important to note that their expertise typically does not extend to tax management or financial planning.
A good agent may also help you:
Connect with brands and sponsors
Negotiate fair contract terms
Avoid predatory or non-compliant deals
However, it’s important to remember that agents usually earn a commission from your deals and are not responsible for your taxes, budgeting, or compliance monitoring.
Learn more about choosing the right NIL agent here.
What Does a CPA Do for NIL Athletes?
A Certified Public Accountant (CPA), particularly one with NIL expertise like the professionals at PMG PRIVATE NIL, plays a vital role in managing the financial side of an athlete’s success. They go beyond basic tax preparation to create customized strategies that protect your income and support long-term growth. From setting up LLCs and tracking expenses to offering personalized budgeting advice and ensuring full compliance with both IRS and NCAA regulations, a CPA helps you stay financially organized and legally protected. Their support is year-round, not just during tax season—making them an essential partner in building a secure NIL future.
This includes:
Tax planning and filing
Budgeting and cash flow coaching
LLC setup and structuring
Compliance with IRS and NCAA guidelines
Income and expense tracking
Your CPA doesn’t just handle tax season—they build a year-round strategy that protects and grows your earnings.
Explore how the IRS handles NIL income.
Do NIL Athletes Need Both?
As NIL opportunities continue to grow, student-athletes are faced with important decisions about how to manage their brand and earnings. One key question is whether to hire an agent, a CPA, or both. Understanding the distinct roles each plays can help you make smarter choices as your NIL presence expands. Agents focus on negotiating deals and building exposure, while CPAs ensure your finances stay organized, compliant, and optimized for tax savings. Depending on where you are in your NIL journey, your needs may vary—but having the right support system can make all the difference in achieving long-term financial success.
Why You Might Need an Agent and a CPA
While an agent helps you make money, a CPA helps you manage and protect it. In the fast-paced NIL world, having a financial team can be the difference between short-term hype and long-term success.
If you’re signing multiple deals, earning substantial income, or expanding into merchandise, speaking engagements, or social media monetization, you’ll benefit from having both professionals in your corner.
When You Might Not Need an Agent
If you’re just starting out, you might not need a full-time agent. Many athletes handle their own early-stage NIL deals with help from campus resources or digital marketplaces. In this phase, a CPA becomes even more valuable—ensuring that you stay compliant and don’t get surprised at tax time.
Check out this guide to managing NIL earnings for college athletes.
Why Financial Strategy Matters More Than Hype
Securing an NIL deal is more than just making headlines—it’s entering into a serious business agreement with real financial consequences. Without proper planning, student-athletes risk tax penalties, missed opportunities, and potential NCAA compliance issues. At PMG PRIVATE NIL, we understand that earning money is only the first step. Managing it wisely is what creates lasting success. That’s why we go beyond just handling your numbers—we educate you on how to build a strong financial foundation. Our team prioritizes financial literacy, tax planning, and regulatory compliance, giving you the tools and support needed to make smart, confident decisions off the field.
We guide you through:
Entity formation (LLC or S-Corp setup)
Many agents don’t touch these areas—leaving athletes vulnerable. With us, your finances are not an afterthought.
The PMG PRIVATE NIL Advantage
PMG PRIVATE NIL is a tax-focused financial management firm built specifically for student-athletes. We don’t offer flashy promises—we offer real financial results backed by over 20 years of experience.
Our services include:
NIL tax planning
Contract review
One-on-one financial mentoring
Ongoing NCAA and IRS compliance
Whether you’re managing your first brand deal or building a six-figure NIL brand, our team ensures your success is built on a strong foundation.
Ready to Build Your NIL Future?
If you’re wondering whether to hire an agent, a CPA, or both—start with a trusted financial advisor who understands your world.
PMG PRIVATE NIL is here to guide you. Let’s protect your earnings, reduce your tax burden, and turn your NIL deals into long-term financial freedom.
📍 PMG PRIVATE NIL
1800 E Las Olas Blvd fl 2,
Fort Lauderdale, FL 33301
📧 info@pmgnil.com
📞 (954) 395-1225
