The financial impact of the Coronavirus is spreading faster than the virus itself with millions being laid off, critical bills going unpaid and rents and mortgage payments being delayed. The unique nature of dealing with this pandemic through social distancing and the resultant home schooling and home employment makes working difficult for most, impossible for some.
There are however resources for those in need. The only national non-profit dedicated to enabling pro-bono financial planning is the Foundation for Financial Planning, (FFP) a 25-year old non-profit that supports local organizations that help those in financial need. Over the years their volunteer financial advisors, which are Certified Financial Planners (CFP), have helped those that have been financially devastated by disasters and personal events including Hurricane Katrina, war veterans, domestic abuse, Cancer, and now they are enabling support for those affected by Corona.
FFP has an excellent new section of their website dedicated to helping families get information about how to deal with the financial ramifications of this crisis. If you know someone in financial strife, please forward them this link.
If you are in the financial services industry and have not yet supported FFP through either a cash donation or a donation of time, please consider doing so today. This organization is doing tremendous and necessary work to help those in need, and you can be joining the many thousands of other advisors and institutions in their mission. You can get more information here.
The financial services industry has long been very generous with its time and money to support those less fortunate. The industries’ Pro-Bono financial planning efforts do not garner the national press they should, so please share this article and its links to anyone you think may be in need during this very trying time.
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