The University of Georgia has been honored for its financial planning pro bono programs and the pro bono work of its students.
The Certified Financial Planner Board of Standards and the Foundation for Financial Planning sponsored the first CFP Board and Foundation for Financial Planning Excellence in Pro Bono Award, which was presented to the university for the pro bono financial programs it sponsors. The award was announced at the 2019 CFP Board Registered Program Conference, which brings together financial program directors and faculty from institutions that provide financial planning education for people pursuing the CFP certification. The Foundation for Financial Planning is a nonprofit organization dedicated to promoting pro bono financial planning.
"Pro bono work is critical to the advancement of the financial planning profession,” said Kevin R. Keller, CEO of the CFP Board. “The University of Georgia is putting its students on the right path—in school and in their future financial planning careers—by making pro bono a central part of its program. The university’s program is to be commended for giving its students this firsthand, real-world experience of helping others that will serve them well in their own careers as financial planners."
Students from the university participated in client-facing service activities through the university’s ASPIRE program and the Internal Revenue Service's Volunteer Income Tax Assistance program, which provide pro bono financial planning and tax filing and services. University students collaborated with program faculty, as well as other university departments focusing on such topics as legal counseling and even nutrition, to help the pro bono clients with financial awareness and stability, the CFP board said.
During tax season last year, the IRS program helped clients claim more than $1.6 million in federal and state tax refunds and saved clients nearly $200,000 in tax preparation and filing fees. The university’s pro bono clients also received financial planning help in understanding retirement savings and strategies and employee benefits, the board said.
Dr. Joseph Goetz, a financial planning professor and the co-founder of the University of Georgia's pro bono financial planning program, said, “Our students are choosing the path of becoming financial planners because they want to help people. Serving their communities through pro bono work demonstrates their commitment to helping those in need. For the past decade, the UGA ASPIRE Clinic and the [IRS volunteer program] provided unparalleled experiential learning opportunities for our students and increased the financial stability and capability of thousands of individuals and families.”
Academic institutions registered with the CFP Board to provide the coursework for CFP certification are eligible for the award. The qualifications for the award include a demonstration by the academic institution of exemplary pro bono work that benefits both its students and their community.
The University of Georgia will receive a $5,000 grant to be used toward future pro bono activities sponsored by Dalton Education, an educational program that prepares students to take the CFP exam.
Dr. Kristy Archuleta, associate professor in the Department of Financial Planning, Housing and Consumer Economics at the University of Georgia, will be a speaker at the 2019 Invest In Women Conference sponsored by Financial Advisor and Private Wealth magazines in Atlanta from April 29 to May 1. University students will attend the conference.