Skip to main content

Resolution Setting Forth CFP Board's Support for Pro Bono Financial Planning Services

July 25, 2023
WHEREAS, a hallmark of a profession is the willingness of its practitioners to donate their time and skills to people who otherwise would not be able to access and benefit from them;

WHEREAS, establishing a pro bono tradition for CFP® professionals will elevate and enrich the profession;

WHEREAS, a service commitment will help build the financial planning workforce of the future by attracting younger people who are looking for careers where they can have a positive impact and a sense of purpose;

WHEREAS, the April 2023 CFP Board Consumer Sentiment Survey — Cost of Living found that, in today’s economic environment, 63% of Americans are concerned about purchasing necessities, such as food and clothing; 55% are concerned about paying their rent or mortgage; and 9 in 10 Americans are concerned about the cost of living in the United States

WHEREAS, CFP® professionals are highly qualified to provide critical services to underserved and at-risk Americans in need of competent, ethical and objective financial guidance;

WHEREAS, expanding access to competent and ethical financial planners through pro bono services is a top strategic priority of CFP Board;

WHEREAS, as an expression of its commitment to fostering pro bono financial planning service, CFP Board in 2022 created the position of a full-time pro bono manager to build awareness and develop programs that result in greater numbers of CFP® professionals engaging in pro bono;

WHEREAS, CFP Board has entered into a formal partnership with the Foundation for Financial Planning matching CFP® professionals with opportunities to offer pro bono financial planning through the Foundation;

NOW, THEREFORE BE IT RESOLVED, CFP Board strongly encourages CFP® professionals to commit to providing 20 hours of pro bono financial planning services annually; and

FURTHER, CFP Board encourages firms that employ CFP® professionals to support them in their pro bono activities and efforts.

ADOPTED this 13th day of July 2023 by the Board of Directors of CFP Board and in force until rescinded or modified by a future Board of Directors.