Category: Uncategorized

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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.

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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.

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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.

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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.

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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.

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How long have you been working with PFAN?

I joined PFAN as a board member in July 2023.

What does your role with PFAN entail?

As a board member of PFAN my role is to work alongside the other PFAN board members and set the strategic direction of the organisation and ensure that PFAN meets its purpose.

The board track and monitor the achievement of PFANs strategic goals and ensure robust risk management and governance practices are in place to enable the long-term viability and sustainability of PFAN.

What is the best thing about working with PFAN?

Working with dedicated and highly skilled board members who volunteer their time to assist clients who are unwell and financially unable to afford advice, the ability to access life-changing financial advice from a network of professional financial advisers.

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

Providing life-changing advice to clients who need it most is a rewarding way of making a valuable difference to our communities.

Sydney, 24 April: The Pro Bono Financial Advice Network (PFAN) is pleased to announce new partnerships with Pancare and MND Victoria, creating more opportunities for people living with a serious illness or disability to access pro bono advice.

Established in 2014, PFAN is a network of financial advisers who provide pro bono financial advice to those in need. Since inception, PFAN has been working with the Multiple Sclerosis network throughout Australia, connecting individuals through referral partners to locally based advisers. Now, through new partnerships with Pancare and MND Victoria, PFAN will also support people affected by pancreatic and Upper GI cancers, and those diagonosed with motor neurone disease.

Advisers registered with PFAN are given the opportunity to take on one pro bono client per year.
PFAN Chair Nicola Beswick said the opportunity to connect more individuals living with a personal health crisis with local based advisers is central to the organisation’s mission.

“Helping to improve the financial wellbeing of Australians living with a serious illness or disability is the reason behind PFAN’s inception. So being able to extend the network of charities we work with means we can help more people in need with access to financial advice.

“We can only achieve this milestone due to the generosity financial advisers throughout Australia have provided to PFAN, and the ongoing support from our corporate sponsors HUB24, Innova, Milford and supporters TAL, Zurich Assure, Intraprac, FAAA, SMSF Association, Professional Planner, Adviser Ratings.

“As an adviser myself, I know first-hand the value of advice in helping to reduce financial worries and stress and create a clear pathway forward for clients in terms of feeling confident about being able to plan for and achieve a comfortable retirement. Having access to advice is nothing short of life-changing, especially for people who are experiencing financial hardship because of a personal health crisis.

Head of Pansupport programs David Menzies says support from organisations like PFAN for patients are incredibly invaluable, especially where out of pocket costs can, at times, be out of reach for a lot of people.

“Evidence suggests that over five percent of patients and carers in our recent survey reported out of pocket costs in excess of ten thousand dollars, which causes stress on household budgets in the current cost of living crisis.[1]

“Being able to link our patients into the PFAN network helps alleviate the stress of trying to manage their personal finances, whilst dealing with a cancer diagnosis and undergoing treatment.”

MND General Manager Support Services Jo Whitehouse says an MND diagnosis is life changing and as such, seeking financial advice early on can be crucial.

“We’re delighted to partner with PFAN as they provide pro-bono financial advice through their network of financial advisers, which aligns with our mission of providing and promoting the best possible care and support to people living with MND.”

Many of the advisers who join the PFAN network and become part of its community offer their financial planning expertise because they want to make a real difference to people’s lives.

My Wealth Strategy Senior Financial Planner Bruno Dimasi said: “Having seen first-hand the impact these conditions have on the lives they effect, and the remarkable work the associated charities do for them, I wanted to give back and help out as best I could which is in the area of financial planning.”

Find Wealth Founder and MD Warren Strybosch said: As a founder of a not-for-profit myself, I am keen to make a difference in my local community where possible. So, it was an easy decision to join the PFAN community to offer my financial planning services to those who are in need.”

PFAN Chair Nicola Beswick said: “Through PFAN, it is our hope to inspire the next generation of advisers and increase awareness of the value that we bring to others through our profession. So, I encourage any adviser who is interested in giving back to consider joining.”

For more information about PFAN please visit : https://www.probonoadvice.com.au/ or join the PFAN community on LinkedIn at Pro Bono Financial Advice Network (PFAN): Overview | LinkedIn

– Ends –

For media enquiries contact:

Natalie Pennisi
npennisi@hub24.com.au
P: 03 9275 7835
Nicola Beswick
P. 0450 227 877
Email nicola@nicolabeswick.com

About PFAN
The Pro Bono Financial Advice Network (PFAN) was established in 2014 by a group of concerned industry stakeholders including licensees, product manufacturers and professional bodies and is a not-for-profit organisation. PFAN puts individuals in contact with licensed financial advisers that have offered to provide pro bono advice in line with best practice.

PFAN’s mission is to improve the financial wellbeing of Australian’s living with serious illness and/or disability, through providing pro bono financial advice, and to inspire others to do the same.
PFAN is for individuals who have been referred by PFAN partners and are experiencing significant financial hardship as a result of a personal health crisis and require financial advice assistance.

About Pancare and MND Victoria
Leading charity Pancare is committed to inspiring hope, raising awareness, supporting families and funding research for upper gastrointestinal cancers.

MND Victoria provides and promotes the best possible care and support for people living with MND.

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[1] State of the Nation: Upper Gastrointestinal cancers in Australia

MEDIA RELEASE

Sydney, 31 May: The Pro Bono Financial Advice Network (PFAN) is pleased to announce Zurich Assure, Interprac and Sequoia have joined the PFAN adviser network, supporting advisers to deliver pro bono advice to people living with a personal health crisis.

Established in 2014, PFAN is a trusted network of industry professionals who are focused on providing pro bono financial advice to those in need. Currently, PFAN works with the Multiple Sclerosis network throughout Australia, connecting individuals through referral partners to locally based advisers. Advisers registered with PFAN are given the opportunity to take on one pro bono client per year.

PFAN Chair Nicola Beswick said she is delighted that Zurich Assure, Inteprac and Sequoia have joined the PFAN network to help improve the financial wellbeing of people in need.

“Our mission is to help improve the financial wellbeing of Australian’s living with serious illness or disability, by providing pro bono financial advice, and to inspire others to do the same. Through our PFAN adviser network, we’re able to connect advisers with people who need financial advice assistance and are experiencing significant financial hardship because of a personal health crisis.

“Having the support from trusted brands like Zurich Assure, InterPrac and Sequoia enables us to service more clients and ultimately extend our services to others that need our assistance. We also hope to inspire the next generation of advisers and increase awareness of the value that we bring to others through our profession.”

As a market leader in helping advised clients to navigate the insurance claims process, Zurich Assure has offered its support and assistance to the PFAN community.

Head of Zurich Assure Sandhya Maini said: “Recent research conducted by Zurich shows that in the event of an illness or injury impacting their primary income, almost 40 per cent of individuals would only have sufficient financial resources for up to two weeks. In addition, one in three people indicated they had no financial backup plan in these circumstances.

“Seeking and obtaining the right advice at the right time can make a significant and positive difference. For this reason, and consistent with our values as an organisation, Zurich remains committed to helping those most in need.”

Through PFAN, InterPrac and Sequoia’s network of advisers can now register their interest in providing pro bono financial advice.

InterPrac CEO Garry Crole said: “InterPrac and Sequoia are pleased to support those who need advice the most, by participating in this program. In our opinion, the best investment any one can make, is to appoint a financial planner or wealth coach.”

Feedback from advisers who have signed up to the PFAN network have expressed the importance of giving back by offering their professional services in kind to those who need it the most.
Sovereign Advisors Managing Director Zaheer Lalani said: “As trusted professionals in the business of providing financial advice, it is not only suggested but incumbent on us all to share our time and knowledge with those who need us most.”

Border Financial Advice Managing Director Tom Border said: “I understand that financial literacy isn’t necessarily accessible to everyone – it can be costly and involve complicated concepts and legislation. I would like to use the knowledge I’ve gained over 25 years in the industry to help others.”

For more information about PFAN please visit : www.probonoadvice.com.au or join the PFAN community on LinkedIn at Pro Bono Financial Advice Network (PFAN): Overview | LinkedIn

For media inquiries contact:

Natalie Pennisi
npennisi@hub24.com.au
P: 03 9275 7835

Nicola Beswick
nicola@nicolabeswick.com
M: 0450 227 877

By Nicola Beswick, Chair, Pro Bono Financial Advice Network

Our vision is to ensure that Australians living with a personal health crisis who need access to financial advice but are unable to afford it, can obtain it through the Pro Bono Financial Advice Network (PFAN). To achieve this vision we work with the fantastic financial advisers in our network to connect them to the  individuals in need who are experiencing significant financial hardship, specifically as a result of serious illness or disability, and require financial advice assistance.

Two questions we are often asked is how does the PFAN referral process work? and what is expected of PFAN advisers?

How does the PFAN referral process work?

For advisers who want join PFAN

Advisers who wish to join PFAN complete an application form which identifies their areas of advice expertise. The application must then be signed by the adviser’s licensee to provide approval to deliver pro bono advice.

Once the application is processed, the adviser is added to our PFAN adviser register and receives their welcome and onboarding information.

For Clients who want advice

PFAN clients are referred to us by the Multiple Sclerosis (MS) Australia network who promote the availability of pro bono financial advice via advertising and informational webinars.

On referral to PFAN, individuals complete an application form which details their personal circumstances, and financials. This information is processed through a simple algorithm which determines client eligibility for pro bono assistance.

The adviser and client matching process

As PFAN clients are identified within a particular region, the PFAN support team emails all advisers within the region with high level details of the advice assistance required and to seek willingness (and availability) to assist with the pro-bono case. The support team confirms adviser approval to take on the case and then connects the adviser with the client via an introduction email.

What is expected of PFAN advisers

Advisers are expected to make contact with the client within two working days of the case being assigned and then progress with the relevant advice delivery process. The advice or financial guidance required by PFAN clients varies greatly – it may be as simple as assistance with completion of forms or more complex cases such as identifying insurance benefits in super. In our experience to date, we have found the vast majority of cases to be relatively simple requirements and only a one-off advice consultation is required.

From time to time, clients who receive financial advice may as a result of this, no longer be in financial hardship and be able to fund any ongoing advice requirements. This is a negotiation between the adviser and client and any revised arrangement is then put into place. PFAN is clear in setting expectations with the MS Network referrers and clients who use the service that the pro bono financial advice only applies where financial hardship is evidenced and ongoing.

Once advice has been successfully delivered, PFAN Support team gets in touch with both adviser and client to discuss satisfaction with the process and obtain (optional) testimonials which are extremely valuable in marketing and promoting the PFAN service more widely in the community.

On behalf of our clients, we thank you

We thank all of the wonderful PFAN advisers who have provided invaluable and often, life-changing assistance to our PFAN clients.

And if you would like to consider pro bono advice, remember that just taking on one case a year will make that life-changing difference to a person in need.

Join us and our mission to improve the financial wellbeing of Australians living with MS through providing pro bono financial advice. The more advisers we have as part of PFAN, the more communities we will be able to serve.  This ultimately makes our profession stronger through building awareness of the benefits that financial advice can bring to all of us.