By Dustin Tyler Joyce
November 8, 2010

Throughout the month of October, mayors across the country participated in a series of educational events through the groundbreaking Financial Planning Days program, a major new initiative of The United States Conference of Mayors DollarWI$E financial education campaign. Through these events, members of the public received free, no'strings-attached one-on-one financial counseling from professional financial planners. Classroom'style workshops complemented the one-on-one sessions.

Financial Planning Days is led by a consortium including the Conference of Mayors, the Certified Financial Planner Board of Standards (CFP Board), the Financial Planning Association (FPA) and the Foundation for Financial Planning (FFP).

Conference of Mayors President Burnsville Mayor Elizabeth B. Kautz was among the nearly two-dozen cities and mayors who participated in this initiative. Kautz hosted Twin Cities Financial Planning Day at the Burnsville Performing Arts Center on October 16.

Speaking on the national initiative, Kautz stated, "With the current slow pace of recovery, now more than ever, the country needs to promote financial education. That's why one of my priorities as President is to expand the DollarWI$E campaign. I'm grateful Burnsville has this opportunity to be part of that increased effort to bring free financial education and advice to more Americans."

Conference of Mayors Vice President Los Angeles Mayor Antonio R. Villaraigosa and Conference of Mayors Second Vice President Philadelphia Mayor Michael A. Nutter joined Kautz in supporting this new initiative. Both cities held events on October 23.

Nutter hosted 200 residents at Ben Franklin High School north of Center City Philadelphia. In a PSA that ran on local radio stations in the weeks leading up to the event, Nutter invited Philadelphians to "learn how to establish a more secure financial future for you and your family." He noted that, "Philadelphia Financial Planning Day is free of charge and part of a national initiative to provide free financial education to Americans."

In the Midwest, events were held in Chicago and Cincinnati on October 23. Both cities held their events in downtown libraries. Mallory's office led a significant promotional effort in advance of the event, which included PSAs on local media outlets as well as advertising in Southwest Ohio Regional Transit Authority vehicles.

Farther west, Omaha Mayor Jim Suttle hosted Financial Planning Day events at two locations in Greater Omaha. "Today, a consortium of community organizations has come together to offer free services from professional financial planners to assist our residents with their specific financial needs. This exercise will assist you in making decisions that will support a strong financial future for you and your family," commented Suttle in opening events at the Elkhorn Valley and South Omaha campuses of Metropolitan Community College. "I would also like to thank the Financial Planning Association of Nebraska for working with my staff and other community organizations over the last several months to organize this event. We greatly appreciate everyone's time and effort to bring this to our community."

Bank on Denver, a recipient of a 2010 DollarWI$E Innovation Grant, hosted over 200 area residents at a Financial Planning Day event on October 9 in conjunction with the Financial Planning Association's annual conference at the Colorado Convention Center. In the Phoenix area, Mesa (AZ) Mayor Scott Smith hosted residents at the Mesa Convention Center on October 23. Speaking after the event, Smith was grateful for the valuable service offered. "Mesa Financial Planning Day was a true benefit to residents. I'd like to thank the city of Mesa for facilitating the program and our local partners for providing a valuable resource to those in our community struggling to find answers," Smith said. "The U.S. Conference of Mayors, the Financial Planning Association, the Certified Financial Planner Board of Standards, and the Foundation for Financial Planning have hit the nail on the head in developing this program and it couldn't have come at a better time."

Other events in the southern United States were held at the Knight Center in Miami on October 2 and at Texas Southern University in Houston on October 23. In the Northeast, Elizabeth (NJ) hosted a Financial Planning Day at Union County College on October 16, while New York City hosted an event on October 23 at the High School of Economics and Finance in the heart of downtown Manhattan's Financial District. That same day in the nation's capital, nearly 150 residents attended an event in the ethnically- and economically-diverse Columbia Heights community in Northwest Washington (DC).

In the Pacific Northwest, events were held in Seattle and Eugene (OR) on October 23. Commenting after her city's event, Eugene Mayor Kitty Piercy expressed appreciation to the Conference of Mayors and its partners, as well as the volunteer financial planners who made the service possible. "This was a simple and effective good will gesture that meant a lot to people in need. I was really pleased that this joint effort with The U.S. Conference of Mayors worked out so well for our city," she said.

Seattle Mayor Mike McGinn was on hand to welcome attendees to his city's event at North Seattle Community College. "I am proud of the 90 volunteers, including 45 financial planners and 15 specialists from agencies in the Seattle-King County Asset Building Collaborative that provided personalized financial consultations for low- and middle-income people on our first Financial Planning Day," McGinn commented after the event. "This is a good example of volunteers providing a good service for those who often cannot afford this kind of advice to help them manage their finances. More than 225 people received personalized consultations to help them manage their finances and achieve their financial goals. We are lucky in Seattle to have so many dedicated volunteers working to help their neighbors."

In California, Huntington Beach Mayor Cathy Green welcomed residents from her city and others nearby to Orange County Financial Planning Day, which was held on October 23. Sunnyvale hosted Silicon Valley Financial Planning Day on October 9. Oakland, which has hosted similar events for the past two years, built on previous years' efforts on October 2 with Oakland Financial Planning Day at city hall.

Across the bay, San Francisco Treasurer José Cisneros, who directed the creation of the city's nationally-known Bank on San Francisco effort to bank the unbanked, spoke at the city's October 16 Financial Planning Day event. "In today's economic crisis we found it critical to extend the opportunity to receive quality, free financial advice to all San Franciscans," commented Cisneros.

"With unemployment at 10.5 percent in our community and many others facing job uncertainty, having these professional financial planners provide this free, no'strings-attached service to our residents couldn't come at a better time," Cisneros continued. "My office's work on this program is just one facet of our ongoing efforts to help all our residents cope with the economic downturn. That's why I'm proud to be here today to support this event." Well over 400 San Franciscans came to the University of California's Hastings School of Law near the Civic Center for a day of free financial education and advice.

DollarWI$E worked closely with Conference of Mayors national partners to ensure the success of these events. FFP awarded DollarWI$E a $125,000 grant to support its participation in the effort. CFP Board and local FPA chapters recruited the Certified Financial Planners® and other financial-planning professionals who volunteered their time and services at the events. All of the partners contributed ongoing support and technical assistance to the local committees who organized the events.

Indianapolis Mayor Greg Ballard and First Lady Winnie Ballard will host the year's final Financial Planning Day event on November 13. The DollarWI$E campaign plans to expand the initiative to additional cities in 2011.