Volunteerism is on the rise in the U.S., and financial professionals are at the forefront of this growing trend. According to an AmeriCorps Volunteering and Civic Life in America report, 28% of Americans formally volunteered through an organization as of 2023 — a 5% point increase from 2021 to 2023. Notably, 18% of those volunteers engaged completely or partially online, showing how virtual opportunities have expanded accessibility.
While part of this surge reflects a post-pandemic rebound, a deeper shift in values — especially among younger professionals — is helping fuel this movement in financial services.
A Next Gen Wave Of Purpose
Younger generations are entering the workforce with a strong philanthropic mindset. A 2023 report from Blackbaud revealed that 84% of Gen Z supported nonprofit causes, and among those employed at companies offering workplace giving programs, an impressive 89% participated. For this generation, community engagement isn’t extracurricular — it’s intrinsic.
Yet, even before this generational wave, many financial advisors were already setting a strong example. In reviewing applicants for the Invest in Others Awards, which recognizes financial advisors for their charitable contributions to a charity, we’ve consistently seen that advisors volunteer an average of 15 to 16 hours per month with a single nonprofit — often while supporting several others. This kind of sustained commitment speaks to the profession’s longstanding culture of service.
Enhancing Client Connections Through Shared Values
Advisors who volunteer are also forging stronger relationships with their clients. According to a 2023 study by Bank of America, more than 85% of affluent households gave to charity. When advisors are personally involved in charitable work, they not only model shared values but also speak with greater authority and authenticity on philanthropy-related topics.
Moreover, charitable giving often intersects with broader financial planning. From gifts of appreciated securities to donor-advised funds (DAFs) and charitable bequests, philanthropy has meaningful tax and estate implications. Advisors who can guide clients through these complexities provide greater value while reinforcing a shared sense of purpose.
From Client Advocacy To Community Advocacy
Financial professionals are natural helpers. Their daily work — problem-solving, educating, supporting decision-making — lends itself seamlessly to nonprofit engagement. Whether it’s advising on a budget, developing a strategic plan or leading fundraising efforts, advisors bring critical skills to the table.
While traditional volunteering roles, like serving food or cleaning parks, remain essential, there’s growing recognition of the value of professional expertise in the nonprofit sector. Taproot, which provides a forum to connect nonprofits with skilled volunteers in areas ranging from HR to strategic planning to finance, estimated that one-hour of skills-based volunteering is worth $220, compared with $33.49 for traditional volunteer roles.
Skills-based volunteering can be invaluable to nonprofits looking to fill knowledge gaps that would otherwise require costly engagements.
Skills-based volunteering can be invaluable to nonprofits looking to fill knowledge gaps that would otherwise require costly engagements with outside consultants.
Meeting Rising Needs With Targeted Support
Nonprofits across the country are facing a growing challenge: increasing demand for services alongside shrinking financial and operational resources. Financial advisors are in a unique position to help bridge this gap — not only by offering their time and expertise, but also by connecting their chosen causes with much-needed funding.
That’s where Invest in Others plays a catalytic role. Through our programs, we help financial advisors deepen their impact by delivering direct financial support to the nonprofits they champion. These grants, ranging from $2,000 to $100,000, are awarded annually to more than 110 organizations nationwide. In many cases, they provide critical operational or expansion funding that nonprofits would struggle to secure elsewhere.
The results speak for themselves.
For example, Scholar Athletes Globally Emerging in Sacramento, California, founded by financial advisor Wornel Simpson, used a $25,000 grant from Invest in Others to grow from two basketball teams to five. That funding allowed the organization to provide more than 70 at-risk youth with opportunities that combine academic support, personal development and athletics.
In Cornelius, North Carolina, advisor Cristen Morgan serves on the board of Hope House Foundation, which received a $60,000 grant from Invest in Others. That funding helped build two homes for families experiencing housing insecurity — providing stability and dignity to those most in need.
And the BLX Internship Program, co-founded by financial advisors Luis Rosa and Shawn Tydlaska, received $85,000 in grants to support general operations, expand internship placements, and provide CFP scholarships. Their work is expanding access and equity in the financial services industry for underrepresented talent.
These stories reflect what’s possible when financial advisors pair their passion with resources. At Invest in Others, our goal is to help make that bridge — to connect advisors’ commitment to community with the funding nonprofits need to thrive. It’s not just giving — it’s multiplying impact.
Volunteerism At Every Level Of The Industry
The industry’s commitment to giving back extends beyond advisors to include leadership and support professionals across financial services. Each year, more than 100 individuals serve with Invest in Others in volunteer roles — ranging from board membership to judging awards and grant applications.
These volunteers represent a wide spectrum of the industry, including executives, association leaders, media professionals and, of course, advisors. While their titles and functions vary, their purpose is shared: to elevate charitable work being done across the profession.
Additionally, through the Invest in Others Awards and Grants Program, more than 100 advisors and industry professionals are recognized annually for their nonprofit service. These programs shine a light on what is often quiet, behind-the-scenes work — work that is nonetheless transformative for communities and for the profession itself.
These programs shine a light on what is often quiet, behind-the-scenes work.
Part Of Financial Services DNA
Volunteerism is increasingly becoming part of the DNA of financial services because firms and people recognize that community engagement builds trust, strengthens client relationships and reflects a broader commitment to social responsibility. Whether driven by generational values, deeper client engagement or a desire to use professional skills for good, advisors across the nation are finding new ways to align purpose with practice.
For firms and advisors alike, this presents an opportunity — not just to support social impact, but to cultivate a culture that attracts talent, inspires loyalty and builds trust with clients and communities alike.
Jessica Dunham is the Chief Operating Officer of Invest in Others Charitable Foundation.
