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Financial Planning > Charitable Giving

Foundation for Financial Planning Sets $5M Fundraising Goal for Pro Bono Programs

By Michael S. Fischer

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What You Need to Know

  • FFP seeks to support its growing set of pro bono programs.
  • FFP has already raised nearly $1 million.
  • Founded in 1995, FFP delivers pro bono financial advice and planning to financially vulnerable groups.

The nonprofit Foundation for Financial Planning announced last week that it has set a goal to raise $5 million by Jan. 1, 2025, to support its growing set of pro bono programs, including efforts to recruit more advisors as volunteers.

FFP said in the announcement that it has already raised nearly $1 million toward its goal, including six-figure commitments from BlackRock, Capital Group, Edelman Financial Engines and eMoney Advisor.

In addition, Glenn Kautt, co-founder of Savant Wealth management, has contributed $300,000, the second-biggest individual donation in FFP’s history.

“I continue to be impressed with the foundation’s ability to innovate for greater impact,” Kautt said in a statement.

“They established themselves as one of the profession’s central charities close to three decades ago, and in the last five years especially, they have taken their pro bono programs and thought leadership to a new level.”

Founded in 1995, FFP delivers pro bono financial advice and planning to financially vulnerable groups, including low-income workers, seniors, families facing cancer and military families.

By partnering with direct service organizations across the country that specialize in serving diverse underserved groups, FFP develops and funds programs that connect certified financial planner professionals to those who need help.

FFP has also built a suite of resources and training programs to support pro bono clients and advisors to ensure that participants receive the maximum benefit.

FFP’s chief executive Jon Dauphine acknowledged that the organization’s fundraising goal is its most ambitious undertaking to date but noted that the foundation is healthy both financially and in terms of the strength of its partnerships and programs.

“By focusing on key areas of growth — including how improved technology can enhance and scale pro bono service across the profession — we believe we can reach 125,000 more underserved families by 2025 and significantly increase the number of CFP professionals volunteering their time pro bono,” Dauphine said in the statement.

Partnership Synergies

FFP currently recruits advisors to volunteer through its long-standing partnerships with various industry groups and through growing collaborations with major companies and RIA firms. Its ProBonoPlannerMatch.org platform, which connects financial planners to diverse pro bono opportunities nationwide, has accumulated some 1,500 users since rolling out in spring 2020.

Partnerships with the likes of AARP have also enabled FFP to meet the increasing demand for quality pro bono opportunities.

The co-developed Retirement Resilience Program allows FFP and AARP to reach financially at-risk seniors with just-in-time advice through webinars and tele-town-halls, followed by one-on-one meetings with CFP professional volunteers, who provide customized guidance.

FFP also supports cancer patients and their families through a long-standing partnership with cancer group Family Reach, a national nonprofit dedicated to removing the financial barriers standing between cancer patients and their treatment.

The Pro Bono for Cancer effort, which offers a more intensive, six-month engagement for financial advisors and their pro bono clients, has brought free financial planning to some 1,600 families since its launch in 2018. With more resources, FFP expects to double the reach and impact of this program in the next three years.

FFP said that since the start of the pandemic, it has reached upward of 100,000 people in need and engaged more than 3,500 advisors, adding to the 24,000 who have volunteered via FFP-supported pro bono programs over time.

(Image: tadamichi/Adobe Stock)

Michael S. Fischer

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