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Why doing pro bono works for advisers

  • Describe the advantages of doing pro bono work
  • Identify the drawbacks of doing pro bono work
  • Explain what good it does
CPD
Approx.30min

When asked why she participates in pro bono giving, Knowles says it is “definitely rewarding and good for the soul”.

She says that “we live in a transactional world” where there is “always give and take".

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"With pro bono work, you are giving your time for something where you do not get a financial reward, but you get that feel-good factor of knowing you have done right by somebody.”

Mark Jeyaraj, engagement manager at management consultancy firm Oliver Wyman, says pro bono work is a way of showing how your day job can be compatible with your values.

For example, the company was called upon to share expertise by contributing to a white paper for an LGBT charity that runs projects and raises funds for homeless people.

Mark Jeyaraj, Oliver Wyman, is passionate about volunteering and pro-bono work

Jeyaraj says he felt that contributing to a pro bono project would help highlight the good work being done by the LGBT community for the homeless as well a  helping his own organisation.

He says: “Doing pro bono was going to be for something I cared about and my colleagues cared about. It helped establish the fact that there is part of the LGBT community that does charitable and pro bono work.

"There were a lot of people from the community in need and it opened my eyes to what those needs were.”

He says that for him, this opportunity to give was compatible with his values, and allowed him to build connections and awareness with and of the LGBT community.

Connection to clients

Dominic McLoughney is a director at financial planning firm Becketts Financial Services, another PFS member company. He provides pro bono financial planning work to clients from the company’s network.

He says that for the individual providing the advice it is “rewarding and provides great mental health and positivity in the fact you have helped another individual/family.”

He adds that there is a great feeling of satisfaction: “I always say that I do this work as it makes me feel good. It’s clearly a benefit to others, but I have never left a pro bono piece of work unhappy that I did the work.”

But McLoughney says it goes much further than a feel-good factor for the staff member — there is a real benefit to society and to the end client.

He says: “For society it allows for the knowledge that is sadly restricted to a few to be expanded to many more.” By giving advice and time without charge, he says there is often a real “appreciation” and “connection” between him and his client.