“The FPA’s pro bono service has been around for a number of years helping people in need, and in a situation like this the recent natural disasters when large portions of the country are affected, everyone should lend a helping hand,” FPA chief executive Mark Rantall told ifa.
“We have 70 to 100 members who are regularly engaged in pro bono activities and for a crisis like this we shouldn’t have a problem marshalling our members,” he said.
As well as simply “lending a listening ear” to disaster survivors, Mr Rantall said certified financial planners (CFPs) and FPA members have skill sets that could be of particular benefit.
Victims may have need for advice on budgeting, rebuilding and financing property and other damaged assets, administrative tasks around replacing lost or damaged financial documents and information and, where necessary, opportunities for lodging insurance claims, Mr Rantall said.
The FPA is calling on members to officially register so that victims can get in touch with specific advisers.
I’d be happy to do the things mentioned above but, according to my dealer group at least, I would have to be an authorised credit rep (including membership of COSL and completion of a Cert 4 in lending)to be able to even ‘discus’ their financing options. I would not be able to assist with their general insurance, as I am not qualified in that area either. Not to mention any other ‘assistance’ provided having to be backed up in writing. This is ‘the law’ they keep telling us. My point is that I would love to be able to help people a lot more than i do but to do so ‘legally’ is simply too onerous. Too much red tape i’m afraid and its only going to get worse.
So does that mean the adviser forgoes the commission available when selling these people insurances? great for the insurers. Even better would be to claim the commission and split the money with the poor people affected.
A noble gesture, but let’s not forget that the reason that some of these poor souls are in the strife they are in now is because they didn’t have adequate (or any) insurance in the first place. better education and cheaper premiums would not go amiss…
Good on the FPA! We should probably do more pro bono work at all times, not just when crises happen