How Financial Advisors and Coaches Support Financial Literacy in Their Community

“Financial illiteracy is not an issue unique to any one population. It affects everyone: men and women, young and old, across all racial and socioeconomic lines. No longer can we stand by and ignore this problem. The economic future of the United States depends on it.” – President’s Advisory Council on Financial Literacy

While a growing chorus of politicians at federal and state levels increasingly advocate for legislation to improve financial literacy in public schools, the fact remains that fewer than half of US states require personal finance education coursework prior to graduation.

Fortunately, financial professionals across the country play a valuable role in volunteering their time to educate children in their community and offering vital coaching and planning services to adults in need.

Advisors and Coaches Share How They Give Back

To celebrate Financial Literacy Month, we invited financial advisors and coaches in the Wealthtender community to tell us how they volunteer their time helping people online and in their community to make smarter money moves.

Here are responses from 18 financial professionals sharing insights into the organizations they support, the fulfillment they feel through their efforts, and details to help other financial advisors learn how they can get involved.

Maggie Klokkenga, CFP®, CPA

Through what organization(s) do you volunteer your time? 

Junior Achievement (JA) of Central Illinois

Can you describe how you give back to the community?

I teach financial literacy concepts, including information about banking terms and payment options (debit/credit, etc.)., entrepreneurship, and how money works within a city to elementary school students, using JA’s curriculum.

What sense of fulfillment do you feel through your volunteer work?

I love the feeling that what I’m doing positively impacts our youth and not just in teaching about money. I had a mom reach out to me last year after I was done teaching my five JA classes to third graders, and her daughter had asked her mom for a book about female entrepreneurs. When she got the book, she looked through it and asked why wasn’t Mrs. Klokkenga in it. I told her that she made my week!

What feedback would you share with financial advisors thinking about this opportunity?

JA lets you know the time commitment for each class. For my third-grade class, it’s five classes/sessions of 45 minutes each. JA has classes from kindergarten through high school, and I haven’t seen a time commitment longer than 60 minutes. JA provides the curriculum and literally a script for what you can say to the students. It took me about an hour or two to review the script and the videos that are included and make my notes in my script, and that was before the first class.

How can financial advisors learn more about volunteering with this organization?

Visit Junior Achievement USA

Kevin Lao, CFP®, RICP®

Through what organization(s) do you volunteer your time? 

Savvy Ladies

Can you describe how you give back to the community?

Savvy Ladies provides free financial education and one-on-one consulting for all women. I am a volunteer and help provide one-on-one coaching for women who have specific financial concerns or issues. Typically, they are going through a life-changing event (divorce, death of spouse, loss of a job, etc.).

What sense of fulfillment do you feel through your volunteer work?

It’s extremely fulfilling. When these women seek out Savvy Ladies, they are often going through a challenging time in their life. I enjoy playing a small part in helping these women get on the right track and gain clarity on their financial futures.

What feedback would you share with financial advisors thinking about this opportunity?

It’s rewarding in the sense you get to actually interact with the “end user.” I find by being hands-on, we can make a bigger impact on those we serve.
I typically provide one coaching call per month, and I can choose when I accept or decline a coaching call. There is an amazing bench of volunteers that I know will pick up the slack if I’m not available.

How can financial advisors learn more about volunteering with this organization?

Reach out to Tracie Wheeler or visit Savvy Ladies / Get Involved.

Michael Reynolds, CFP®, CSRIC®, AIF®, CFT-I™

Through what organization(s) do you volunteer your time? 

Savvy Ladies

Can you describe how you give back to the community?

I volunteer with Savvy Ladies in order to help provide professional advice for women who may not otherwise have access to help.

What sense of fulfillment do you feel through your volunteer work?

I love being able to help give hope to those who may be struggling with their financial situation.

What feedback would you share with financial advisors thinking about this opportunity?

You can spend as much or as little time as you want. You can control your schedule and decide how much time you want to devote to pro-bono work. It can be one hour per month if that’s all you can do.

How can financial advisors learn more about volunteering with this organization?

Reach out to Tracie Wheeler or visit Savvy Ladies / Get Involved.

Emily Rassam, CFP®, CRPS, AIFA, NSSA, CDAA

Through what organization(s) do you volunteer your time? 

I offer free financial literacy to members of three groups I’m involved in:

• Charlotte Career Moms
• HOPE Charlotte (RESOLVE)
• Tri It For Life

Can you describe how you give back to the community?

For the members of a local women’s group called Charlotte Career Moms, I offer free quarterly sessions on personal financial planning matters. These topics have ranged from budgeting and debt reduction to estate planning and many topics in between.

For the members of my infertility support group HOPE Charlotte, a chapter of RESOLVE, I offer free financial planning guidance for those undergoing expensive fertility treatments. This helps the women understand their saving and funding decisions when paying for treatments.

For the members of my triathlon club (200 members), I offer a session each season on budgeting for triathlon expenses (and overall budgeting, debt reduction, and saving for short-term and long-term goals)

Before Covid – I had gone into a local DV shelter to help the women with financial questions and financial foundations. I have not resumed this activity, but volunteering was very fulfilling.

What sense of fulfillment do you feel through your volunteer work?

I enjoy helping early and mid-career women create a proper foundation to build their financial lives. I hope the seeds I plant now will help these women grow into having a positive and proactive relationship with money.

What feedback would you share with financial advisors thinking about this opportunity?

Consider giving back to groups you are already enmeshed with.

Jamie Lima, CFP®, MBA

Through what organization(s) do you volunteer your time? 

Savvy Ladies

Can you describe how you give back to the community?

We provide pro bono financial planning engagements for single women who need financial planning help. This includes those recovering from, or planning for a divorce; financial literacy like how to best maximize their workplace retirement plans; and, helping widows prepare for retirement.

What sense of fulfillment do you feel through your volunteer work?

As a man who was raised mostly by women and one who witnessed the financial struggles my mother had after her divorce, I enjoy seeing the relief these women have on their faces after our engagements.

What feedback would you share with financial advisors thinking about this opportunity?

We worked with 14 women in 2022, and the time commitment was not all that challenging. We take them through a true financial planning experience, over multiple meetings, and it did not affect our work or impact our clients’ experience at all. There is nothing anyone needs to do to be prepared for these engagements so long as you are actively following the financial planning process.

How can financial advisors learn more about volunteering with this organization?

Reach out to Tracie Wheeler or visit Savvy Ladies / Get Involved.

Elliott Appel, CFP®, CLU®, RLP®

Through what organization(s) do you volunteer your time? 

Wings for Widows and Savvy Ladies

Can you describe how you give back to the community?

With Wings for Widows, I meet with a widow for four sessions to go through their curriculum, answer their questions, and help them feel more at ease with their finances.

With Savvy Ladies, I meet with women of all ages to discuss budgeting, investing, insurance, and other financial topics. It’s an hour dedicated to their questions.

What sense of fulfillment do you feel through your volunteer work?

With widows, I feel grateful I get to play a small part in them feeling better about their finances after a huge loss and the grief that accompanies it.

With the women from Savvy Ladies, I am often working with younger women, and it’s a wonderful feeling knowing that the impact we are making will have decades to compound into good habits and better financial decisions.

What feedback would you share with financial advisors thinking about this opportunity?

Find an organization that fits with the time you have to give.

For example, Savvy Ladies is a one-hour conversation. I can see the different inquiries and select the one that fits my skills as I have time. I don’t prep for these meetings. I simply show up.

Wings for Widows is four 90-minute sessions (6 hours total), so it is more involved and requires some prep time to review notes.

How can financial advisors learn more about volunteering with this organization?

Visit Wings for Widows – Become a Volunteer or email info@wingsforwidows.org.

For Savvy Ladies, reach out to Tracie Wheeler or visit Savvy Ladies / Get Involved.

Kelly Klingaman, CFP®, RLP®

Through what organization(s) do you volunteer your time? 

Various undergraduate organizations related to the McCombs School of Business on the University of Texas at Austin campus; Sophomore Development program, and the Wealth Management Center.

Can you describe how you give back to the community?

I do 1:1 mentoring of students where we meet regularly to discuss things like their resume, interview skills, what I’ve learned from my experience in financial services, how to apply for and choose the best internship opportunities, etc. I also participate in various workshops where I teach foundational personal finance concepts like cash flow planning and investing 101, or speaker panel discussions where I’m interviewed with other industry professionals.

What sense of fulfillment do you feel through your volunteer work?

I also did my undergrad degree at the McCombs School of Business and always wished I had been more exposed to young professionals who were working in the financial advice space. I didn’t even know it was a potential career option, so if I can shed some light on that for students now, then I want to do that.

I especially love my conversations with female students who have never considered being a financial planner one day, and yet they have the exact skillset necessary to go into that type of work – both the qualitative empathetic skills that make them great at navigating relationships and working with people, plus the quantitative financial skills too. One of the young women I’ve mentored for a couple of years now is likely going to be a summer intern for me this summer, so it’s very exciting to see our relationship come full circle and witness her excitement about getting more hands-on exposure to the industry where I work.

What feedback would you share with financial advisors thinking about this opportunity?

The time commitment is minimal in exchange for the sense of fulfillment I receive in giving back to my alma mater and helping inspire a new generation of business students to consider the wealth management industry as a career path.

I have a standard set of slides and resources I created, which I use for personal finance workshops, and that took me a couple of hours to create. I use these slides in a lot of different settings, though, so again, the time commitment to prep isn’t much. And we’re covering foundational topics vs. more in-depth topics, so there’s not a ton of practice I need to do before an event.

Jonathan Bird, CFP®️, CWS®️

Through what organization(s) do you volunteer your time? 

Savvy Ladies

Can you describe how you give back to the community?

I spend 1% of my annual working hours, or 20 hours per year, helping women seeking help through Savvy Ladies. The goal of Savvy Ladies is to empower women through financial literacy and education. Most commonly, I help women create a budget that shows their income, taxes, savings, and itemized spending, which they use as a foundation for financial planning decisions. I also help answer questions on IRA contributions, debt management, and education planning.

What sense of fulfillment do you feel through your volunteer work?

Volunteering is designed to benefit the recipient, but it has a way of benefiting the volunteer just as much. Helping women learn the tools they need to make good financial decisions is incredibly powerful. Every time I see a successful outcome, I get excited to help create another one!

What feedback would you share with financial advisors thinking about this opportunity?

Savvy Ladies asks for one hour of pro-bono planning per month.

How can financial advisors learn more about volunteering with this organization?

Reach out to Tracie Wheeler or visit Savvy Ladies / Get Involved.

Cady North, MBA, CFP®

Through what organization(s) do you volunteer your time? 

Savvy Ladies

Can you describe how you give back to the community?

I respond to “helpline” requests from women to help them build money plans to pay down debt, adjust their budget, save, or set up a plan for long-term investing. I often get requests to help those clients think through the financial aspects of a career change, business change, or life/family change as well.

What sense of fulfillment do you feel through your volunteer work?

I love getting to spend about an hour with someone to help them make progress on something pressing with their finances. It’s great to see how empowering it is for the helpline requester to get some financial peace around the thing that’s concerning them. The impact you make can be almost immediate, and the requesters are always extremely grateful for the assistance.

What feedback would you share with financial advisors thinking about this opportunity?

I typically take up to 3-4 helpline requests per month done online via zoom (or phone or other video conference software of your choice). You have the opportunity to review helpline requests where you can be of most assistance and then reach out directly to the requester with a calendar link to find a time that works with both your schedules.

Most helpline requests can be completed in 30-45 minutes, but some go the full hour. While sometimes requesters might need additional assistance, you only have to commit to one session as a volunteer. If you take notes, you can offer those to a future volunteer who can help pick up where you left off.

How can financial advisors learn more about volunteering with this organization?

Reach out to Tracie Wheeler or visit Savvy Ladies / Get Involved.

Erik Baskin

Through what organization(s) do you volunteer your time? 

Warrior Transition Outdoors

Can you describe how you give back to the community?

I just formed a partnership with Warrior Transition Outdoors to give their transitioning veterans a free financial transition plan for every transition plan that is bought through my firm, Baskin Financial Planning.

What sense of fulfillment do you feel through your volunteer work?

Although I haven’t done a plan yet, as this relationship was just formed, it gives me great fulfillment and sense of meaning to be running a company that has a mission to serve the underserved by helping transitioning veterans that may not be able to afford sound financial advice.

What feedback would you share with financial advisors thinking about this opportunity?

This type of arrangement is totally customizable, and it is up to the advisor how much time they want to donate. I make this part of this portion of my business that I am committing to donate a plan for every plan that is bought through my military transition offering. This relationship or buy one give one type model can be pursued by any advisor with or without a partnering nonprofit.

How can financial advisors learn more about volunteering with this organization?

Visit Warrior Transition Outdoors – Transitioning Finance Initiative.

Grant Maddox, CFP®, AWMA®, CSRIC®

Through what organization(s) do you volunteer your time? 

Financial Planning Association (FPA)

Can you describe how you give back to the community?

Pro bono clients – one per quarter!

What sense of fulfillment do you feel through your volunteer work?

Our goal as an advisor is to expand the accessibility of quality financial planning to a wider range of individuals and families; this is true for our pro bono clients too! There is no better feeling than providing quality work and having the client understand the process. What a great feeling!

What feedback would you share with financial advisors thinking about this opportunity?

3 hours is usually a good basis to use: 1 hour introduction, 1 hour of work, and 1 hour presenting and answering questions.

How can financial advisors learn more about volunteering with this organization?

Visit the FPA Pro Bono Program Website.

Myra Alport

Through what organization(s) do you volunteer your time? 

Women’s Money Matters (WMM) and Savvy Ladies

Can you describe how you give back to the community?

Working 1:1 with women is an incredibly meaningful experience. By getting to know each woman personally, we share an honest exchange of ideas and personal stories. I can help them realize that their goals are entirely within reach. The Women’s Money Matter program combines pro bono coaching on a variety of financial literacy topics such as budgeting, credit, home purchase, banking and emergency savings, food shopping, etc.

What sense of fulfillment do you feel through your volunteer work?

I am extremely proud of the dynamic women I’ve had the opportunity to guide and encourage.

What feedback would you share with financial advisors thinking about this opportunity?

WMM programs are virtual and last for approx 12 weeks. Sessions are 1-1.5 hours per week plus 1:1 time with your mentee, which can be anywhere from 30 min to 1 hour or so. You must be a female to work 1:1, but men can volunteer as subject matter leads in the workshops. The only prep work is reviewing the materials that are shared with coaches a day or so before each virtual session.

The Savvy Ladies hotline consists of a 1-hour phone call or virtual meeting to discuss a financial question, concern, or issue. There’s no ongoing relationship beyond the call/meeting, although I have provided additional resources by email as a follow-up.

How can financial advisors learn more about volunteering with this organization?

Visit Women’s Money Matters or reach out to Tracie Wheeler or visit Savvy Ladies / Get Involved.

Marianne Nolte, CFP®

Through what organization(s) do you volunteer your time? 

D’Vine Path (DVP) – A dynamic program that provides vocational and life skills training to adults with developmental, intellectual, and/or learning disabilities in the agriculture, hospitality, and the arts industries.

Can you describe how you give back to the community?

I provide a pro bono, hands-on, interactive 8-week workshop on finances for the more independent students of D’Vine Path who are seeking education on independent living expenses, paychecks, banking, personal budgeting, and savings.

What sense of fulfillment do you feel through your volunteer work?

There is so much joy in the DVP community. My heart sores when I get to engage with the students and staff of this amazing program.

What feedback would you share with financial advisors thinking about this opportunity?

Those with special needs require a different set of planning criteria to ensure government benefits are not negatively impacted.

How can financial advisors learn more about volunteering with this organization?

Visit D’Vine Path.

Katy Cook

Through what organization(s) do you volunteer your time? 

United Way of King County

Can you describe how you give back to the community?

I prepare taxes for low- and moderate-income taxpayers through the IRS VITA program (IRS Volunteer Income Tax Assistance Program).

What sense of fulfillment do you feel through your volunteer work?

I enjoy being part of a team effort to help people in my community file their taxes for free. With deep tax knowledge, I often help with more complex returns that include self-employment income, scholarships, and education expenses. There is great satisfaction in helping someone file a tax return they can feel confident about and gets them the right deductions and credits, which may be as large as $7,000.

Volunteering with VITA is a great way to share financial expertise with your community. It is grounding to help people with their finances who are facing different challenges than affluent clients.

What feedback would you share with financial advisors thinking about this opportunity?

Shifts are 3-4 hours per week, and there is a time commitment to pass IRS exams before tax season starts. The training counts for CE credit for some certifications. The seasonal aspect makes my volunteer work doable: I commit to Saturday afternoons from late January through mid-April.

Prep Work Required: The first year, there is a learning curve to how the sites work. I work from home and communicate with my team over Zoom, Slack, and online tracking software. UWKC provides training on preparing taxes, using their systems, and scripts for interviewing taxpayers.

How can financial advisors learn more about volunteering with this organization?

Visit United Way of King County – Volunteer – Free Tax Prep or IRS Free Tax Prep.

Liz Alf, CFP®

Through what organization(s) do you volunteer your time? 

Prepare and Prosper

Can you describe how you give back to the community?

Prepare and Prosper is a local Minnesota organization that completes free tax preparation for those who have low enough income to qualify. Through Prepare and Prosper, I get connected with clients who indicated during their tax preparation that they would like a consultation with a CFP to talk about retirement planning, investing, insurance, or estate questions.

What sense of fulfillment do you feel through your volunteer work?

It has been such a positive experience to connect with clients who don’t usually get access to the type of advice we give. I helped one gentleman do some planning around taking a distribution from his IRA to buy a home. I was able to help another woman find options for good high-yield accounts to build up her short-term savings. Clients get a sense of relief to find answers to their questions and appreciate the resources you send after the consultation.

What feedback would you share with financial advisors thinking about this opportunity?

The time commitment is focused on January through April due to tax season. In general, I spend anywhere from 1-3 hours a week during this season.

How can financial advisors learn more about volunteering with this organization?

Visit Prepare and Prosper.

Jon McCardle, AIF

Through what organization(s) do you volunteer your time? 

Junior Achievement (JA)

Can you describe how you give back to the community?

I have taught JA’s entrepreneurial classes for several years at the HS level. My belief is that educating students in the ways of building businesses and giving them real-life examples of what can be done and how successful one can become with dedication and hard work has been quite satisfying. I especially like the way they perk up when I tell them about my academic performance vs my business performance and how becoming a business owner isn’t always reserved for the A students in class.

What sense of fulfillment do you feel through your volunteer work?

My belief is that for whom much is given, much is required, and while some tithe their money on Sunday, I have chosen to tithe my time and talents along with making charitable donations. My most valuable resource is my time, and when I am giving back through teaching classes, it is more meaningful to me.

What feedback would you share with financial advisors thinking about this opportunity?

The time it takes to prep and teach is not as much as you might think. Giving back through JA is quite rewarding, and committing to our youth is key to securing our future. “Our society grows great when old men plant trees, the shade of which they know they will never sit in.”

How can financial advisors learn more about volunteering with this organization?

Visit Junior Achievement USA

Jorey Bernstein

Through what organization(s) do you volunteer your time? 

Special Olympics

Can you describe how you give back to the community?

I’m proud to be a host for the Special Olympics, introducing incredible competitors to their personal heroes – Professional Athletes. One day will stay with me forever, when basketball superstar Klay Thompson came out to spend time rallying and playing alongside some of these inspiring children. We had an amazing day that was full of laughter and joy-filled memories!

With high hopes ahead, our plans are set in motion for next year’s event, where renowned athletes will come deliver insights on how being financial savvy can help secure paths toward athletic careers.

What sense of fulfillment do you feel through your volunteer work?

Volunteering has been an incredibly empowering experience for me. Beyond the tangible benefits to the community, I feel a deep sense of satisfaction in making a difference and helping those in need. Knowing that my efforts can impact people’s lives fills me with joy and purpose.

With each new volunteer opportunity, I can learn something new and create lasting bonds with others who share my passion for giving back. There is no more incredible feeling than knowing that your time, energy, and effort have made a positive difference in someone else’s life.

What feedback would you share with financial advisors thinking about this opportunity?

Time Commitment varies from year to year. I always feel inspired, so time flies by.

How can financial advisors learn more about volunteering with this organization?

Visit Special Olympics or JoreyBernstein.org. These two websites are great resources for those interested in the Special Olympics movement. Special Olympics is an international organization that provides year-round sports training and athletic competition in various Olympic-type sports for people with intellectual disabilities.

Chris Randall

Through what organization(s) do you volunteer your time? 

My own.

Can you describe how you give back to the community?

I work with high school and college students in the Los Angeles area to help them set up their first investment account and review investing basics. We typically meet in a 1-on-1 fashion, so each student feels comfortable asking questions. At the end of our time together, I give them some “homework” to do around researching new investments in order to increase accountability and commitment.

What sense of fulfillment do you feel through your volunteer work?

I love working with these young students because I know that the skills they are developing are going to pay dividends for their lifetime. My favorite part is when they get excited about watching their account balances grow over time.

What feedback would you share with financial advisors thinking about this opportunity?

I commit 3-5 hours a week to these coaching sessions. I would recommend having some resources available around personal finance that they can utilize on their own time. Also, try to keep an open mind and listen to their questions in order to meet them where they are.

How can financial advisors learn more about volunteering with this organization?

Email chrisrandall@axiscapmanagement.com.