Foundation for Financial Planning and CFP Board Partner with National Council on Aging to Deliver Pro Bono Financial Planning for Seniors

The Foundation for Financial Planning and the Certified Financial Planner Board of Standards, Inc. (CFP Board) announced today they are partnering with the National Council on Aging (NCOA) to deliver pro bono financial planning to senior citizens nationally.  

Later this year, the three organizations will launch a pilot program in Massachusetts that will offer seniors one-on-one financial planning sessions with CERTIFIED FINANCIAL PLANNER™ professionals through senior centers. The program will also feature educational workshops addressing key areas of personal finance for seniors, presented by CFP® professionals. All services provided by CFP® professionals will be offered on a pro bono, no-strings attached basis and volunteers will not engage in solicitations or sale of any products or services.

The Foundation for Financial Planning recently provided a grant of $42,500 to NCOA to support the pilot program. “The need for financial planning does not have age limitations. Regardless of where you are in life, we believe financial planning is beneficial and impacts families’ long term wellbeing.  This can be as simple as creating a plan of care for when you are no longer able to make sound mental decisions,” said Elissa Buie, CFP®, Foundation Chair.

“NCOA is pleased to partner with the Foundation for Financial Planning and CFP Board as we work to improve the health and economic well-being of 10 million older adults by 2020,” said James Firman, NCOA president and CEO. “This partnership will give vulnerable seniors in a targeted number of cities access to timely financial education and pro-bono, one-on-one assistance that will help them plan for financial security throughout their lives.”

The Foundation for Financial Planning and CFP Board will work with NCOA to track the impact of the pilot program with the hope the pilots will serve as a springboard in establishing an ongoing, nationwide program to deliver pro bono financial planning to seniors through NCOA’s vast network of senior centers.  

As part of the ongoing partnership, NCOA will also promote opportunities for senior citizens to engage with CFP® professionals at over 2,000 senior centers nationally, including Financial Planning Days, a series of events which offer free financial counsel in twenty-five cities across the U.S. throughout October. 

“CFP® professionals are uniquely qualified to help seniors navigate the circumstances and challenges they face in their management of personal finances and long term financial planning,” said CFP Board’s Chief Executive Officer Kevin R. Keller. “We are pleased to partner in this initiative to afford seniors the opportunity to become educated and get critical financial questions answered.”
 
“It is never too late to receive the benefits of financial planning.  The Foundation for Financial Planning is excited about working with the National Council on Aging and CFP Board to bring this valuable service to our seniors,” said James A. Peniston, executive director of the Foundation for Financial Planning.

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