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News Release

CFP Board Adopts Resolution Encouraging CFP® Professionals to Engage in Pro Bono Financial Planning

July 25, 2023

CFP Board today announced that its Board of Directors has approved a Resolution encouraging CFP® professionals to participate in pro bono financial planning. In the Resolution, which passed unanimously at the July Board of Directors meeting, CFP Board recommends that CFP® professionals commit to a minimum of 20 hours per year of pro bono service. CFP Board recognizes that pro bono financial planning not only benefits those served but also enhances the profession and helps build the financial planning workforce of the future.

CFP Board also urges financial planning firms to make pro bono activities part of their workplace culture. Regular opportunities to volunteer can attract service-minded young professionals while boosting a culture of giving back in the financial services industry.

CFP Board Chair Dan Moisand, CFP® led the development of the Resolution. “CFP Board exists to advance the financial planning profession to benefit the public,” says Moisand. “Pro bono financial planning does just that — it can strengthen our profession and positively impact individuals and communities for years to come.”

The support for pro bono service within the financial planning community is evident — 76% of respondents to CFP Board’s 2021 Survey of CFP® Professionals believe it’s important for CFP® professionals to provide pro bono services to people in need.

“Encouraging pro bono service among CERTIFIED FINANCIAL PLANNER™ professionals is part of our commitment to expanding access to competent and ethical financial planners,” said CFP Board CEO Kevin R. Keller, CAE. “In today’s challenging economic environment, where 63% of Americans express concerns about purchasing necessities, CFP® professionals have the expertise to deliver essential financial planning services to underserved and at-risk Americans.”

CFP Board is proud to partner with the Foundation for Financial Planning (FFP) — an independent charitable organization solely focused on expanding pro bono service in the financial planning profession — to help make pro bono opportunities, training and resources available to all CFP® professionals. FFP will help CFP® professionals match with nonprofit organizations seeking pro bono assistance for their constituents through its national volunteer opportunity clearinghouse: www.ProBonoPlannerMatch.Org. More than 115 nonprofit organizations use the website to post volunteer opportunities for CFP® professionals, with 45 different types of pro bono activities currently available.

“We are excited that CFP Board’s leadership is making this recommendation to formally encourage CFP® professionals to provide pro bono financial planning to people in need,” said FFP CEO Jon Dauphiné. “CFP® professional volunteers are the driving force helping so many underserved families navigate their financial challenges, and we think this Resolution will help persuade even more certificants to get involved. We value our partnership with CFP Board, working every day to connect nonprofits and their underserved constituents with CFP® professionals while providing resources to grow the scale and impact of this work.”

In recognition of the remarkable dedication of CFP® professionals who provide pro bono services, CFP Board will soon introduce digital pro bono badges. The digital badges will be awarded to individuals who have completed 20+, 60+, or 100+ hours of pro bono financial planning.

about cfp board

CFP Board is the professional body for personal financial planners in the U.S. CFP Board consists of two affiliated organizations focused on advancing the financial planning profession for the public’s benefit. CFP Board of Standards sets and upholds standards for financial planning and administers the prestigious CERTIFIED FINANCIAL PLANNERTM certification — widely recognized by the public, advisors and firms as the standard for financial planners — so that the public has access to the benefits of competent and ethical financial planning. CFP® certification is held by nearly 100,000 people in the U.S. CFP Board Center for Financial Planning addresses diversity and workforce development challenges and conducts and publishes research that adds to the financial planning profession’s body of knowledge.

contact

Joseph Feese
Director of Public Relations
202-379-2305
media@cfpboard.org
X: @CFPBoard