Pro Bono Work

Pro bono is derived from the Latin “pro bono publico”, which means “for the common good”. Another relevant Latin phrase is “sui servientes”. This translates as “self-serving” and here are a couple of examples of how it has applied to me over my career.

Years ago, the FSA’s Money Advice Unit ran a programme to provide education to workers. It was called “Making the Most of Your Money” and involved presenting a pack covering borrowing, saving, investing and insuring. I was one of the many volunteers who delivered it. I can’t count how many times, but I did at least one session a month. Taking account of travel, they cost me about half a day. I think I got more out of it than the employees because it gave me great insight into how hundreds of people thought about money and I could drop this into relevant client conversations. It was a genuine differentiator in my day-to-day work.

I also became a member-elected director and trustee of the Ernst & Young defined benefit and defined contribution pension schemes. Again, a significant investment of time; reading board papers, attending board and investment committee meetings, and going through the Trustee Toolkit learning process. I learned a huge amount and was able to apply this in client situations.

My tip to other professionals would be to avoid giving free regulated advice. Perhaps there are opportunities to provide communities with free regular sessions on financial topics that you can be involved with. And who knows, some of the attendees might become clients.

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