XY Planning Network advisors are offering free emergency financial advice to anyone who has lost a job, lost income from reduced work hours or taken unpaid sick leave as a result of the COVID-19 pandemic.
Those advisors can be found on the XYPlanningNetwork.com site using the keyword "coronavirus relief."
"These remarkable individuals became financial planners to help people, and while they get to do that in the day-to-day work, today, they get to help people normally not reached by financial planning," said XY Planning CEO Alan Moore, in a statement.
"It further cements that the future of the industry is for us to become a helping profession that isn't limited to the wealthy but is for all consumers," continued Moore, who co-founded the firm with Michael Kitces.
Within an hour of organizing the pro bono effort, 50 XYPN advisors signed on. "The number continues to rise as advisors make room in their schedules for volunteer work during an already hectic time," Moore said. A day later three more advisors offered their services for no fee.
The XY Planning Network is a fee-for-service virtual network of 1,163 advisors, most state-registered, who provide comprehensive financial services for a monthly subscription fee and without product sales or asset minimums.