Powerball is played in 45 states, as well as Washington, D.C., Puerto Rico and the U.S. “That investment adviser will get fees off managing that money.”Ĭhancey said that talented investors probably could make more money than paid through an annuity, but that there is risk and advisers need to be open about their potential gain depending on the jackpot winners’ choices. “If you go to a financial person and say you want to invest $1 billion, the financial person will say take the $600 million and we’ll pay taxes on it, you’ll have $300 million left over and I’ll invest it for you,” Chancey said. But Chancey also urged winners to understand that if advisers earn a percentage from the investment of all that money, they have a financial stake in how the money is paid out and should be clear about any potential conflict.

Matt Chancey, an investment adviser in Tampa, Florida, said that certainly makes sense. Officials urge anyone lucky enough to win a Powerball jackpot to consult a financial adviser - while keeping that valuable ticket safe - before showing up at a lottery office for an oversized check.

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