WASHINGTON, May 19, 2020 /PRNewswire/ -- Certified Financial Planner Board of Standards, Inc. (CFP Board) announced today that it has donated $25,000 to the Foundation for Financial Planning (FFP) in support of its COVID-19 Financial Resilience Fund. The fund will help bring pro bono financial planning and advice to low-income workers and other groups impacted by the COVID-19 pandemic.
The fund is supported by a $500,000 total match commitment from Charles Schwab Foundation, creating a total potential of $1 million in support.
"This extraordinary time demands extraordinary outreach to help others," said Kevin Keller, CAE, CFP Board's CEO. "We are proud to join forces with the Foundation to help Americans in need gain access to quality financial guidance from our volunteer CFP® professionals."
"We are so grateful to CFP Board for this generous gift, which sets an important example for the profession and helps fund our programs to reach those struggling financially during the pandemic," said Jon Dauphiné, the Foundation's CEO. "Financial planners have a unique role to play in this crisis, and we hope all CFP® professionals will consider joining us as donors, pro bono volunteers, or both."
Offerings and programs supported by this fund include emergency grants to help transition existing financial guidance programs to virtual delivery models, connecting more pro bono CFP® professionals to volunteer opportunities through CFPVolunteerMatch.org, and new programs for high-risk groups most affected by the pandemic.
Visit the Foundation for Financial Planning's website (https://ffpprobono.org/) to learn more about the fund and to make an online donation. The Charles Schwab Foundation is currently matching all new gifts and pledges from individuals and independent firms. All contributions to the Foundation for Financial Planning (tax ID: 58-1446336) are tax-deductible as provided by law.
CFP Board and the Foundation have collaborated extensively to advance pro bono financial planning and advice in the profession. In 2019, the organizations presented a co-branded Excellence in Pro Bono Award to the CFP Board registered program at the University of Georgia for its work engaging students in pro bono service, and collaborated to add questions to CFP Board's semi-annual survey of CFP® professionals to better understand financial planners' perceptions about pro bono service.
"The CFP Board survey last year found that about two-thirds of surveyed CFP® professionals are engaging in pro bono service, providing an average of 31 hours per year," noted Keller. "We know CFP® professionals are service-minded and want to help others, especially given the current financial fallout that so many people are experiencing. We're proud to know that our gift to the Foundation will help more CFP® professionals assist families who have nowhere else to turn for good advice."
ABOUT CFP BOARD Certified Financial Planner Board of Standards, Inc. is the professional body for personal financial planners in the U.S. CFP Board sets standards for financial planning and administers the prestigious CFP® certification – one of the most respected certifications in financial services – so that the public has access to and benefits from competent and ethical financial planning. CFP Board, along with its Center for Financial Planning, is committed to increasing the public's awareness of CFP® certification and access to a diverse, ethical and competent financial planning workforce. Widely recognized by firms and consumer groups as the standard for financial planning, CFP® certification is held by more than 87,000 people in the United States.
SOURCE Certified Financial Planner Board of Standards, Inc.