FAQs

I've never worked with pro bono clients before. How will I know what to do?
Ready-made meeting agendas and worksheets on this Web site will help you with a variety of pro bono situations. In most cases, your business experience as a financial advisor will prepare you to handle common pro bono situations.

What's expected of me as a pro bono financial advisor?
In essence, a willingness on your part to do good by providing your expertise and advice at no charge to members of your community who may really need (and appreciate) the help.

What kinds of tasks will I be doing?
Many of the same tasks you perform in your own business. You'll be giving advice on cash flow, spending plans (budgets), debt, important financial documents, etc.

What other volunteers offer pro bono financial advice?
Pro bono advisors come from all areas of the financial planning industry: accountants, tax preparers, registered reps, financial planners, etc. You may already know some of these individuals through the local chapters of your trade groups.

What's the environment like in a pro bono situation?
Depending on where you meet the pro bono client, the environment may be very familiar to you (such as your office) or perhaps rather different (such as a nonprofit organization's office). The key is to be flexible and open-minded. Many of the people you meet and work with at nonprofits will be volunteers just like you.

What will my time commitment be?
As with your business clients, it will depend on the situation. To help set your expectations, assume you'll need to meet with a client five or six times, for 60 to 90 minutes each meeting. Your actual time commitment will probably vary, but a total commitment of five to 10 hours per pro bono client is a rough guide.

Whom do I report to?
If the pro bono referral comes from a charitable organization, you'll have a contact there for reporting purposes. If the referral comes through your trade organization, you will initially report to the person who contacts you from the trade group.

Is there a lot of paperwork involved with pro bono cases?
Some organizations may ask you to complete a simple form that asks you to track your volunteer hours, provide a summary of what issues or topics you covered, etc. If you're concerned about documentation, ask the trade or charitable organization what it requires before you volunteer.

What about compliance issues with pro bono work?
Contact your company's compliance department, when applicable, about any potential compliance issues before you begin your pro bono work.

Can I choose which pro bono cases I want to accept?
In most cases, yes. Refer to your trade organization for its policy on working with pro bono cases. Most charitable organizations will be very flexible in allowing you to selectively volunteer your services.

What happens if the relationship with the pro bono client just doesn't work out?
Contact the community or trade organization that referred the client to you, and explain that the relationship simply isn't working out. Ask the organization if there is another pro bono planner who could take on the client. Gracefully end the relationship with the pro bono client, as you would with a business client.

My business/personal life has changed dramatically. What if I need to end my work with a pro bono client prematurely?
Contact the community or trade organization that referred the client to you. Explain your situation and see if another volunteer in the organization can pick up where you left off.

How do I withdraw from being a pro bono advisor?
Contact the trade organization that you volunteered through, and ask them to remove you from their volunteer list.