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How to Be an Effective Pro Bono Advisor

In what ways should your approach vary?

Phuong Luong

Morningstar Office clients can find more practice management articles like this one, here.

It’s that time of year when many advisors and firms consider providing pro bono services as a way to give back. Despite these good intentions, advisors often make incorrect assumptions about how to help people with low incomes or in financial distress. It takes a great understanding of their goals, backgrounds, and concerns to avoid having one's attempt at pro bono advice do more harm than good.

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