The Foundation for Financial Planning, a nonprofit organization, has created the COVID-19 Financial Resilience Fund, which will help bring free financial advice to low-income workers and other groups impacted by the pandemic. The fund launches with a $500,000 matching commitment from the Charles Schwab Foundation.
All qualified contributions will be matched dollar for dollar, up to $1 million.
“This pandemic has left millions of Americans facing financial hardship. Families have experienced a loss of income and are struggling to pay for food, housing, and other basic needs, while those on the frontline, like our healthcare first responders, have little to no time to focus on their finances,” said Jon Dauphiné, CEO of FFP. “The COVID-19 Financial Resilience Fund will help raise resources to bring free financial guidance to people who need it now more than ever, and we are so grateful to the Schwab Foundation for helping to make this possible.”
Funds will go toward emergency grants to help partners move to virtual advice models; connecting CFP volunteers to pro bono opportunities through the foundation’s CFPVolunteerMatch.org; building new programs for high-risk groups, such as seniors and families affected by cancer; and providing relevant training and resources for pro bono advisors via the online Coronavirus & Pro Bono Planning Resources Center.
Want The Daily Brief delivered directly to your inbox? Sign up for WealthManagement.com's Morning Memo newsletter.
