Author: probonoadvice

Muirfield Financial Services in Geelong, Victoria has partnered with the Pro Bono Financial Advice Network (PFAN) to bring more structure and consistency to its goal of offering free financial advice to those in need.

Managing Director Melinda Planken said while pro bono work was already part of the company’s culture, working with PFAN helped formalise and strengthen that commitment.

“As a business leader, I had put a KPI on all our advisers to do one pro bono case a year, but historically that had been ad hoc as they were coming across them.”

PFAN: The link to regular pro bono support

Planken’s journey with PFAN began while on a panel with Nicola Beswick, Chair of PFAN and CEO of White Rabbit Advisory.

Prior to this, Muirfield was doing pro bono work as cases arose, through links it had sought out with other organisations. Planken decided to give its pro bono efforts more rigour, rather than registering each adviser individually with PFAN, she would centralise the process, with all referrals directed to her.

This meant she could allocate cases based on each adviser’s capacity and expertise, streamlining the approach to ensure pro bono clients received the most appropriate support while maintaining Muirfield’s operational efficiency.

Since formalising the relationship with PFAN late last year, the firm has supported around ten cases. This collaboration has not only enhanced the firm’s community impact but also aligned seamlessly with its values and existing involvement in the Geelong Community Foundation.

Case study: Supporting clients through crisis

One recent PFAN case which Muirfield supported involved a female client based in Tasmania. The client was navigating significant health challenges and financial uncertainty. The team provided remote support via phone appointments, focusing on education and clarity around her financial situation.

The case required review and consideration of multiple superannuation accounts and a claim for Total and Permanent Disability (TPD) insurance. Currently, Muirfield is assisting the client in exploring their entitlements to provide additional income support and concessions via Centrelink.

Planken said emails from the client show their positive feedback – ‘Amazing. Thank you so much for the confirmation. Appreciate all the support’. This sentiment reflects the broader impact of PFAN’s work, providing peace of mind, clarity and professional guidance during life-altering moments.

“Circumstances have pivoted generally quite quickly, and you know things are thrown on their head and quick decisions are often needing to be made,” said Planken. “Being able to support people during those difficult circumstances, that is definitely why PFAN exists.”

Most cases are educational in nature, helping clients understand their financial structures, entitlements, and cash flow management. Advisers act as a sounding board, offering reassurance and helping clients make informed decisions during periods of upheaval.

Building a culture of giving back

Planken views pro bono work not as an obligation, but a privilege. The expectation that each adviser supports at least one case per financial year is part of a broader cultural commitment to community service.

This ethos is reinforced through sharing case studies within the business, serving as powerful reminders of the value and impact of their work.

“I think we sort of take [advice] for granted, because we do it day in, day out and then when you’re dealing with someone who has a heavy load personally, to see that relief and acknowledgement of you and the appreciation, is really lovely.”

The firm’s involvement with the Geelong Community Foundation further reflects its dedication to giving back. Planken, who sits on the Foundation’s board, sees PFAN as a natural extension of the firm’s values and the opportunity to use their professional skills to support vulnerable individuals.

She believes PFAN plays a vital role in the advice industry. “I encourage all firms to get on board. You know, why wouldn’t you give back in a professional capacity. It’s a privilege and I don’t think it should be something that people ignore.”

Stephanie Patrick has been helping people navigate their finances for over 13 years, driven by the desire to make a difference.

Since 2021, she has been part of Hewison Private Wealth, working as a Senior Financial Planner with clients who typically $2 million+ in assets. Based in Melbourne, Hewison and Associates is recognised not only for its financial expertise, but also for the strong values that guide its work.

“PFAN connects us with people we wouldn’t otherwise reach,” explains Patrick. “It allows us to use our skills to make a meaningful difference in the lives of those who are financially vulnerable.”

Navigating complex advice needs

In a recent case referred by PFAN, Patrick worked with a woman facing a series of life-altering challenges.  PFAN’s structured referral process ensures that advisers like Patrick are well-prepared. “We’re contacted about our availability and given an overview of the case,” she explains. “There’s a service-level agreement in place, and we move forward from there.”

The client had Multiple sclerosis (MS), was undergoing a divorce, had several children and was recovering from a previous cancer diagnosis. She faced significant financial uncertainty, particularly around her superannuation, Centrelink eligibility, and ongoing cashflow.

The client had done extensive research and was seeking clarity around her financial position. “She had been managing so much on her own. Her ex-husband had previously taken care of the finances, and now she was looking for a plan to move forward.”

The complexity of the case, particularly the intersection of illness, disability, and family law, required sensitivity and flexibility. “We couldn’t implement any formal strategies until her divorce settlement was finalised, which took nearly 10 months.” While waiting for the settlement, she provided guidance on matters to raise with the client’s lawyer, particularly around the treatment of superannuation.

Once the divorce settlement was complete, Patrick and her team delivered over ten hours of advice and an additional ten hours of administrative support to the client.

Real-life impact

The advice Patrick and her team provided to the client led to several meaningful outcomes. The client received a higher Disability Support Pension than she would have without guidance. Her superannuation fees were reduced through a revised investment strategy, and her portfolio was restructured to better match her risk profile and life stage.

They also helped her manage her cash flow more sustainably, avoiding the need to draw down funds at an unsustainable rate.

“Had she not received advice, she would have been in a much worse financial position,” Patrick said. “The planning gave her peace of mind. Studying part-time became a choice, not something forced by financial pressure.”

They adjusted her super portfolio to better suit her profile, made long-term financial plans, and reviewed her Centrelink benefits.

A human-centered approach to advice

The client’s quiet gratitude spoke volumes. “She was very respectful and appreciative. Given everything that she was dealing with, you don’t expect over-the-top reactions, just knowing you made a small difference is enough.”

Patrick is clear-eyed about the value of even small actions. “Sometimes just helping with paperwork can ease someone’s burden. It’s a valuable service.”

She believes PFAN plays a vital role in changing how financial planning is perceived. “People often leave financial advice at the bottom of their to-do list. PFAN pushes it up and makes it more accessible.”

Ultimately, Patrick sees this work as a true reflection of what advice should be. “A lot of advisers say they’re in it to help people and they mean it, but services like PFAN show that the quality of care we offer goes far beyond just managing money.”

The dedicated advisers who are part of our Pro Bono Financial Advice Network (PFAN) make a real and lifechanging difference to individuals living with a personal health crisis. PFAN recently interviewed Behram Ali, Financial Adviser and Senior Paraplanner at Curo Financial Services Pty Ltd, to hear about why he supports PFAN and how he is helping change lives.

Why are you involved with PFAN?

Being part of the PFAN network gives our business the chance to give back to the community and allows us to help the most vulnerable members of our society when they need it the most. Being able to help and obtain great outcomes for individuals who feel like they may have their backs against the ropes is the most rewarding experience.

Tell us about a recent client case

Our client needed help with a disability insurance claim. She had tried to contact a lawyer to do it for her but needed someone who had expertise and knowledge around insurance, but more importantly, insurance claims. During our first call, I got a good understanding of how far along her condition was and her eligibility for a TPD claim. On our client’s behalf, I spoke to her super fund and insurer to obtain the relevant forms. Naturally, these claim forms are extensive and can be incredibly overwhelming for those with no prior exposure or experience. We endeavour to make the claims process as easy and stress-free as possible and so we facilitated in completing her side of the claim forms from start to finish. All she needed to do was to obtain the relevant doctor and specialist forms and we lodged the claim. After submitting the completed forms, we were able to have her TPD claim finalised in just two weeks due to our expertise and our relationships with the insurers.

Our client was so grateful for our help with her claim. MS is such a slow burn, and you know it’s never getting any better. But every time I spoke with our client, she was excited to hear from me. I’ve never met someone so optimistic despite the circumstances they are in. There are so many people like our client who need help but don’t have access to good advice and professional assistance. Just because of pure circumstances, they shouldn’t be left in the dark. It’s as simple as that. That’s why we do pro bono. For me it was even more impactful knowing our client’s background. She has worked with the Royal Fire Service for her entire life, fighting fires on the front lines, helping people and communities during their time of need. It was time for us to give back, and for people like our client, pro bono advice is a chance for us as an adviser profession to give back too.

Would you recommend pro bono advice to advisers?

Yes absolutely. You can clearly see how what you do is making a difference to the lives of people who need help but don’t know where to go. We have a fiduciary duty to help those in need who don’t have the necessary means to get help under normal circumstances. It is an incredibly rewarding experience to not only obtain these great outcomes for these clients, but to know you are actively giving back to the community.

Want to learn more about PFAN?

All the information you need can be found on our website: probonoadvice.com.au, or hop onto LinkedIn (search for Pro Bono Financial Advice Network) and join the PFAN community.

As a board member of the Pro Bono Advice Network, Niall McConville has been involved with the organisation for more than six years.

What is the best thing about working for PFAN?

I am very motivated to help people when they are experiencing a tough time in life. At PFAN, we are helping everyday Australians who have been diagnosed with a serious illness and experiencing financial hardship to receive financial advice, which will hopefully mean they can solely focus on their health.

What would you say to anyone else considering providing their professional expertise via the Pro Bono Financial Advice Network?

Giving up your time and expertise to someone who may not normally get the opportunity to spend time with you to seek advice…and seeing the difference you make, is one of the most rewarding things you can do in life.

Find the time to see at least one person a year, you will gain a lot from the experience, while giving back at the same time.

How can advisers or organisations find out more

Visit us online at probonoadvice.com.au or get in touch with me via LinkedIn.

As a Director and Treasurer of the Pro Bono Financial Advice Network, Stephen Knight says pro bono work is a great opportunity for advisers to drive change.

How long have you been working with PFAN and what made you want to join? 

I first joined PFAN as a Board Member around 2021 to represent the joint interests of the Association of Financial Services Board and to promote PFAN and its activities to the AFA Board and the broader financial adviser network.

What does your role with PFAN entail?

I’m currently the Treasurer of PFAN but I’ve been involved with pro bono work for many years. As a former adviser of some 37+ years, I’ve promoted pro-bono work across the sector and also been able to assist a number of clients with pro-bono advice.

What is the best thing about working for PFAN?

I enjoy giving back to our profession and using my skill set where I can, to assist and support PFAN.

PFAN above all, is an opportunity for our profession, to become engaged in a special way to assist clients, many of whom are in very unfortunate circumstances – financially and in their most vulnerable time of need.

What would you say to anyone else considering providing their professional expertise via the Pro Bono Financial Advice Network?

I would encourage all financial advisers to become engaged in our program which is well established and has well documented practices. Start by helping just one client a year – that’s all it takes to make change.

How can advisers or organisations find out more

Visit us online at probonoadvice.com.au or get in touch with me via LinkedIn.

Natalie Kleibert is the Head of Marketing at Ignition Advice and also the Deputy Chair of PFAN. She highlights how pro bono work can both be personally and professionally rewarding, enabling a deeper understanding of diverse financial situations.

How long have you been working for PFAN?

I joined PFAN in 2019 while working at the Association of Financial Advisers (AFA) and was the board representative for PFAN. In mid-2021, I was elected as Deputy Chair. Each dedicated and passionate member of our team shares a common goal of creating meaningful impact. I am proud to work alongside them in our mission to improve the financial well-being of individuals living with critical illness or disability, and who cannot afford financial advice.

What does your role with PFAN entail?

I collaborate with our chair Nicola and the board across many areas including strategy, governance, administration, marketing and partnerships. As volunteer directors, we all try to balance PFAN priorities with our day-to-day roles – busy, but very rewarding!

What is the best thing about working for PFAN?

There are a few things! Being part of something bigger and seeing the real impact we are making on the individuals living with critical illness, disability and financial hardship who need financial guidance or advice. It is a privilege to connect with the amazing advisers who support us in our mission to help those in need.

What I also love, and am proud to see, is how PFAN continues to evolve as an organisation; we have added administration support, expanded our governance framework, attracted new and diverse partners and have recently onboarded two new charities (MND Victoria and Pancare Victoria). We have a strong foundation and big plans; it’s exciting to see us kicking bigger goals each year!

What would you say to anyone else considering providing their professional expertise via the Pro Bono Financial Advice Network?

Just one pro bono advice case a year is all we ask for. As our network grows with more advisers and partners, so does our impact, allowing us to amplify our reach within the charities we work with today, and to scale up to work with more charities. Our experience tells us that pro bono work isn’t just personally rewarding, it broadens your professional expertise as you gain a deeper understanding of the diverse financial situations that Australians experience. The greater the collective impact we can have, the bigger the ripple effect of positive change within the wider community – and this enhances and benefits the advice profession as a whole.

How can advisers or organisations find out more

Visit us online at probonoadvice.com.au or get in touch with me via LinkedIn.

Anne McDonnell is the Head of Group Marketing & Communications at HUB24 and also a Board Member of PFAN. She tells us more about why she’s an advocate of PFAN and why advisers should consider joining the network.

How long have you been working with PFAN and what made you want to join?

I joined PFAN as a Director just over 2 years ago. I had connected with other Board members Nicola and Paul via my role at HUB24 as Head of Group Marketing and Communications. HUB24 has been a long-term supporter of PFAN through our community and social initiative HUBempower, and supporting PFAN is very aligned to our purpose as a company to ‘empower better financial futures, together’.

Personally, I have experienced the benefits of having access to financial advice and I have worked in the financial services industry for a long time, so I really wanted to give something back. I felt that I could use my skills and access to resources to support PFAN and get financial advice to those who need it the most.

What does your role with PFAN entail?

Initially, I started as Company Secretary but also wore my marketing hat. Now I am fully focused on driving awareness of PFAN with advisers and the broader financial services community – alongside the incredibly talented and committed marketing team at HUB24 who go above and beyond to support the PFAN cause.

What is the best thing about working with PFAN?

It really is hearing the stories from both the advisers and the clients they have helped. Often these clients and their loved ones are coping with incredibly traumatic circumstances and having the peace of mind around their finances is literally life-changing for them.

What would you say to anyone else considering joining PFAN?

Do it. We definitely need more advisers to join our network and more support from the broader financial services industry to keep growing awareness so we can keep providing support to more Australians managing a critical illness.

Nicola Beswick is a financial planner and also Chair of PFAN. We get to know more about her role and how her work is supporting the community on two fronts.

How long have you been working with PFAN and what made you want to join?

I’ve been involved with PFAN at the Board level since November 2019. In July 2021, I was elected Chair. Before this, I volunteered as a PFAN adviser, helping numerous clients and hosting various webinars and presentations within the MS community.

A friend who lives with Multiple Sclerosis and is a financial counsellor made me aware of the PFAN organisation. We met through a mutual friend who I met during an MS fundraising walk across the Great Wall of China.

What does your role with PFAN entail?

I’m lucky enough to be able to focus on promoting PFAN to the financial profession and the wider public by hosting various conversations and information sessions. Having a team of dedicated board members with a range of skills and various support teams behind the scenes (such as our PFANs team and the HUB24 team), it means that as Chair of PFAN I can focus on this part of my role, knowing that we’re all working towards PFAN’s objective of providing a network of trusted advisers who can assist individuals in their time of need.

What is the best thing about working with PFAN?

Knowing that we’re working towards making a difference to individuals and their families who are impacted by a health condition and experiencing financial hardship. In addition, we’re promoting the great work the financial planning profession does – in this case pro bono, so we’re creating change on two fronts for the broader community.

What would you say to anyone else considering joining PFAN?

It is the most amazing experience being able to change people’s lives and not expect anything in return. Knowing that you are changing someone’s life using the skills we use every day is an incredible feeling.