Real Results
to recognize CFP® profession a ls who’ve completed 20+, 60+ or 100+ hours of pro bono service. “The b a dges a re a w a y for us to celebr a te good work a nd a lso a dd a little competitive g a mific a tion to encour a ge people to ‘level up’ their pro bono commitment,” s a id Keller. Announced in June, the 100K Pro Bono Ch a llenge encour a ged CFP® profession- a ls n a tionwide to collectively provide 412,237 pro bono hours in 2024, 100,000 more hours th a n logged in 2023. The ch a l- lenge a lso p a id hom a ge to the milestone of 100,000 CFP® profession a ls. On a nnouncing the ch a llenge, Keller s a id, “CFP Bo a rd is dedic a ted to foster- ing a culture of service a nd working tow a rd a future where a ll Americ a ns h a ve a ccess to competent, ethic a l fi- n a nci a l pl a nning. By joining the 100K Pro Bono Ch a llenge, CFP® profes- sion a ls not only help others but a lso demonstr a te the fin a nci a l pl a nning profession’s collective commitment to li f ting our communities.” To join the ch a llenge, CFP® profes- sion a ls h a d to volunteer a t le a st one hour in 2024 a nd report their pro bono hours by midnight on December 31, 2024. The ch a llenge a lso included a friendly competition a mong st a tes b a sed on the percent a ge of p a rticip a t- ing CFP® profession a ls. P a rticip a nts received a digit a l certific a te of p a rtic- ip a tion in J a nu a ry 2025, recognizing their dedic a tion to community service. As of December 31, 2024, a record 17,916 CFP® profession a ls reported 389,435 pro bono hours. While the hours reported fell short of the 100K Pro Bono Ch a llenge, they m a rked a n 18% incre a se a nd a n a ll-time high for pro bono hours reported in a single ye a r. “I believe CFP® profession a ls were excited a bout the ch a llenge,” s a id Moley Ev a ns, CFP Bo a rd Director of Volunteer Eng a gement, in December 2024. “We knew from the st a rt th a t our go a l w a s a mbitious, but we love a ch a llenge a t CFP Bo a rd a nd decided to go for it. I a m thrilled th a t we h a d a huge incre a se in the number of ser- vice hours.” “The 100K Pro Bono Ch a llenge high- lights the imp a ct CFP® profession a ls c a n m a ke through pro bono service,” s a id FFP CEO Jon D a uphiné. “Even one hour of expert fin a nci a l pl a nning a d- vice c a n be of immense v a lue to some- one in need.”
Changing Lives One Hour at a Time
[She] really changed my life and gave me financial confidence, but most importantly, she gave me a sense of peace that had
CFP® professionals say pro bono volunteering is rewarding and makes them better advisors.
been missing. —– Sandy McKown, pro bono client
BY LISA O. MONROE
WHILE PRO BONO service is not a re- quirement for CFP® certification, a growing number of CFP® professionals are fulfilling their desire to help others by providing pro bono financial plan- ning services through nonprofit orga- nizations or on an ad hoc basis to neigh- bors, friends and family. From the f a ther of a l a rge f a mily m a n- a ging a c a ncer di a gnosis to a single mom struggling to m a ke ends meet while work- ing two jobs, there is no typic a l pro bono client. E a ch client h a s their own unique circumst a nces a nd ch a llenges. Wh a t they h a ve in common is the need for fin a nci a l pl a nning a dvice th a t c a n m a ke a me a n- ingful imp a ct in their lives. To encour a ge a nd f a cilit a te pro bono fin a nci a l pl a nning, CFP Bo a rd p a rtners with the Found a tion for Fin a nci a l Pl a nning, which helps m a ke pro bono opportunities, tr a ining a nd resources a v a il a ble to CFP® profession a ls. FFP is the n a tion’s le a ding 501(c)(3) non- profit solely dedic a ted to the delivery of pro bono fin a nci a l pl a nning, a nd it a w a rds gr a nts to community-b a sed a nd nonprofit org a niz a tions to develop progr a ms to m a tch volunteer fin a nci a l pl a nners with opportunities to serve.
For ne a rly 30 ye a rs, FFP h a s supported the delivery of free fin a nci a l guid a nce to more th a n 730,000 people in crisis or need. Pro Bono Financial Planning: A Win-Win Pro bono clients who’ve shared their experiences o f ten say their financial advisors have changed their lives for the better, giving them greater peace of mind, reducing stress and anxiety, and helping them make better deci- sions about money. “There were times when I st a rted crying with gr a titude during sessions with Meliss a — she re a lly ch a nged my life a nd g a ve me fin a nci a l confidence, but most import a ntly, she g a ve me a sense of pe a ce th a t h a d been missing,” s a id S a ndy McKown, who w a s p a ired with fin a nci a l pl a nner Meliss a Brenn a n, CFP® through nonprofit Wings for Wid- ows af ter her husb a nd p a ssed a w a y. The nonprofit is a Found a tion for Fin a nci a l Pl a nning gr a ntee. “It h a s ch a nged my thinking a nd re- a lly ch a nged my life,” s a id a nother pro bono client, who received free fin a nci a l pl a nning services from a CFP® profes-
sion a l through Britep a ths, a lso a n FFP gr a ntee. She h a d sought help through the ch a rit a ble org a niz a tion bec a use her f a mily w a s h a ving trouble m a king ends meet. “Gener a lly, in our culture, we don’t educ a te people well a bout money, a nd it’s not considered polite to even t a lk a bout it. M a king th a t sp a ce to t a lk a bout money [is] so ben- efici a l,” s a id Jessie Doll, CFP®. She volunteers with Brite- p a ths, a n FFP gr a ntee th a t helps individu a ls a nd f a milies in crisis with fin a nci a l empowerment. Not only is pro bono work a w a y to give b a ck, but m a ny CFP® profession a ls who volunteer their time find th a t it is very rew a rding a nd even m a kes them better a t wh a t they do. “It’s been rew a rding to help veter a ns n a vig a te overwhelm- ing fin a nci a l situ a tions, “ s a id Ry a n S a v a ge, CFP®. He volun- teers with FFP gr a ntee the Coordin a ted Assist a nce Network, which serves a ctive milit a ry a nd veter a ns. In a ddition to o ff ering volunteers the benefits th a t come with giving b a ck, pro bono fin a nci a l pl a nning c a n a lso help a fin a nci a l pl a nner build experience. Sus a n Olson, CFP® s a id, “It’s a n a m a zing feeling to help people. It c a n a lso be gre a t for profession a l development or m a rketing yourself a s someone with a rich a nd diverse skill set.” Otto River a , CFP® who works with exonerees rele a sed from prison af ter being wrongly inc a rcer a ted, h a s a dvice for other fin a nci a l pl a nners considering pro bono work. “Absolutely get involved a nd st a y involved,” River a s a id. “It c a n m a ke us better, more emp a thetic people a nd better a dvisors.” Expanding access to competent and ethical financial plan- ners through pro bono services is a top strategic priority. In 2022, CFP Board created a sta ff position focused on pro
bono engagement and formalized its partnership with the Foundation for Financial Planning (FFP). CFP Bo a rd CEO Kevin R. Keller, CAE s a id, “Through this p a rtnership, we committed to r a ise a w a reness of pro bono opportunities a mong CFP® pro- fession a ls, encour a ge them to volunteer a nd coordin a te closely with FFP to con- nect them with pro bono eng a gements. This commitment supports CFP Bo a rd’s vision to ensure every Americ a n c a n a c- cess competent a nd ethic a l fin a nci a l pl a nning a dvice. Building a culture of volunteerism is a lso essenti a l a s we work to a ttr a ct service-minded young people to the profession.” In 2023, to further cement its com- mitment to pro bono fin a nci a l pl a nning, CFP Bo a rd p a ssed a resolution recom- mending th a t CFP® profession a ls com- mit to a minimum of 20 hours of pro bono service per ye a r. The resolution a lso encour a ges firms th a t employ CFP® profession a ls to support them in their pro bono a ctivities a nd e ff orts. In 2024, the bo a rd built on its com- mitment to pro bono fin a nci a l pl a nning through the 100K Pro Bono Ch a llenge a s well a s the rollout of digit a l b a dges
THE STANDARD
A LOOK AT 2024
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