April 28, 2010

National Organizations to Provide Free Financial Education for Underserved Populations

FPA, CFP Board, Foundation for Financial Planning and U.S. Conference of Mayors sponsor major consumer initiative

Thousands of Americans consumers and financial professionals are expected to take advantage of a new financial education program being jointly launched by the Financial Planning Association (FPA), the Foundation for Financial Planning, Certified Financial Planner Board of Standards (CFP Board) and the U.S. Conference of Mayors. The idea is to provide through a series of clinics, free, no-strings-attached, financial advice and education to underserved communities, young adults, and individuals facing special life circumstances or crises.

Marv Tuttle, FPA's executive director and CEO, told Investment Advisor in an exclusive interview in late March, about this program as part of his organization's long-term effort to help educate the American public in regard to financial matters. "We have done I think a pretty decent job of galvanizing our membership community to get engaged in public service and social responsibility, to give back to society through pro bono and efforts that really demonstrate the value of financial planning," Tuttle said. "We're about ready to launch what we call the national day of service program and that will start in October. Our goal is to reach out in 30 different cities throughout the United States in October to work with those four parties to provide one-on-one advice and education to the communities that want to sign up with us.

"We're really pleased that the Conference of Mayors has come on board and Mayor Hickenlooper of Denver is very much behind our having that as a centerpiece of our national conference, which we're going here to hold here in Denver in October," Tuttle continued.

Advisor participation in the "Financial Planning Days" program will be driven by local FPA chapters and for CFP certificants, the CFP Board, while any necessary funding will be provided by the Foundation for Financial Planning.

The CFP Board conducted a similar effort in Los Angeles and Santa Monica during its annual meeting in 2006.

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