In a world where countless service members and veterans face daunting financial challenges, the Coordinated Assistance Network (CAN) shines as a beacon of hope for those who have served our country. Originally founded as the Yellow Ribbon Network, CAN is a secure, cloud-based platform designed to connect individuals in need, including active military and veterans, to nonprofits providing services in the areas of education, housing, employment, and more. With funding and support from the Foundation for Financial Planning (FFP), CAN has enhanced its offerings to include pro bono financial planning, whereby veterans are matched with CFP® professional volunteers who provide one-on-one financial advice and guidance. FFP has a long history of bringing assistance to military and veterans’ families, and sponsoring CAN’s ‘financial advice and planning’ offering helps us to reap efficiencies, extend our reach across the nation, and help more heroes who have served.

Over the last year alone, FFP has recruited about 70 CFP® volunteers who have assisted more than 160 clients from every branch of the military. More than two-thirds of the clients served reported disability status and over 10% are at risk of homelessness.

Pete Bosse: A Veteran Giving Back
Among these passionate volunteers is Pete Bosse, a retired veteran with 40 years of military service who has engaged with 20+ clients on the CAN platform. “I love it because you see a full gamut of issues including basic budgeting, investment issues, debt consolidation, tax issues, developing a small business plan, and more,” said Pete. “The range of topics is something you don’t always get exposure to, other than through pro bono experience.” As Pete reflected on his CAN experience, he noted that “it is a great feeling to share with people who might not have access to high-quality financial guidance.”

Ryan Savage: Prioritizing Mental-Financial Health*
Ryan Savage, CFP® has helped 10 veterans navigate their finances. “It’s been pretty rewarding to help veterans navigate overwhelming financial situations,” he shared. After connecting through CAN, Ryan reaches out to them to have an initial discussion to understand the questions that need to be addressed, then follows up with any action items, whether those relate to developing a budget, doing a balance transfer to lower an interest rate, etc. Then he reconvenes with the client to check in on the action items and make sure they are taking the steps necessary to move things forward.

“I try to keep it as simple as possible. Sometimes, veterans have other challenges in their lives, whether those be physical or mental disabilities resulting from their heroic service to our country. I try to limit action items to 1 or 2 priorities so the plan can easily have a positive impact.”

Ryan has “always been interested in helping” and believes that CFP® professionals like him have the tools and capabilities to point these individuals in the right direction. “Giving back to the community has always been important to me,” he said.

Beverly Provost: Navigating Financial Hurdles
Beverly Provost, CFP®, discovered CAN through FFP’s volunteer matching platform, ProBonoPlannerMatch.Org, and was inspired to join after hearing about the unique financial hurdles veterans encounter from her daughter, who works with the military. With 16 successful engagements under her belt, Beverly has seen firsthand how small changes can yield significant results.

“I often feel we advisors can take our financial knowledge for granted, when sharing it can make such an impact,” said Beverly. In one instance, Beverly helped a veteran who had subscribed to over 17 streaming services to cope with his PTSD develop a system for prioritizing his family’s favorites. In another case, she helped a veteran with ADHD and his wife develop a spending plan to help them shop for groceries without buying things they don’t need. In another, Beverly helped a veteran who recently lost her job figure out how to maneuver through the temporary earnings gap with a home equity line of credit that her partner could obtain.

“I can’t say enough good things about Beverly,” said one of her clients via an anonymous review. “She developed an understanding of where I am and where I’d like to go financially, and then made recommendations from there to best support me.”

Join the Movement to Help Our Heroes
As CAN and FFP continue to expand our reach and impact through pro bono financial planning, the stories of these dedicated volunteers remind us that many members of the military and veteran communities are struggling financially — but that with the help of a CFP® volunteer, they can nonetheless create a path to financial stability. If you are a CFP® professional and would like to help, we urge you to explore more information on CAN and how you can get involved at CANportal.org. In addition, you can search for a broad variety of additional pro bono opportunities at FFP’s ProBonoPlannerMatch.Org platform.

*Ryan Savage offers securities and investment advisory services offered through Osaic Wealth, Inc. member FINRA/SIPC. Osaic Wealth, Inc is separately owned and other entities and/or marketing names, products or services referenced here are independent of Osaic Wealth, Inc.