Financial Advisor Grant

2019 Guidelines

Preparation and readiness for retirement is often an anxiety expressed among clergy of all ages. Research by Lilly Endowment along with feedback from clergy in the Dakotas and Minnesota reveal that many pastors are hesitant to seek professional financial advice or consultation. The Financial Advisor Grant is to introduce the potential benefit of engaging a financial advisor as you plan for retirement, regardless of how near or far you are to that goal.

Purpose: To provide pastors of the Dakotas and Minnesota Annual Conferences with resources to engage a financial advisor who can provide financial guidance on short-term and long-term goals to improve financial well-being.

Eligibility Criteria:

  • The applicant is a provisional or ordained deacon or elder or licensed local pastor in good standing with the Dakotas or Minnesota Annual Conferences.
  • The applicant has been under appointment for at least one year and is actively serving a local UM congregation or extension ministry in the Dakotas or Minnesota or has been under active appointment within the last year, but is currently on leave.
  • The applicant has completed personal financial education within the last three years. (If education was completed beyond the three-year period, a refresher course of at least two hours ideally focused on the individual’s financial goals would satisfy the requirement. See below for more information.)
  • The applicant, as described above, is eligible to receive a one-time grant of $500 for financial advising services. (See parameters below.)

Grant Parameters:

  • The $500 grant is awarded for payment of fees associated with engaging a financial advisor in the initial planning appointment and subsequent meetings.  (Note: Individuals may utilize the funds for subsequent meetings even if they already have an advisor.)
  • A limited number of $500 grants will be provided on a first-come, first-serve basis with applications being accepted beginning June 2019 for the remainder of 2019.
  • Grant funds are not to be used to purchase products or for investments but for meetings with a financial advisor.
  • The selected financial advisor must be a Certified Financial Planner to qualify for the grant.

Process:

Complete the online application to include your personal contact information along with your financial advisor’s information. Determine if you meet the financial education requirements. If not, consider the options described below. If you do not find an option that meets your financial goals or have another option that you wish to pursue, name and describe the option on the application. You will receive notification of your application’s approval within two weeks. Include the date of your appointment with your financial advisor on your application or contact Diane Owen when scheduled. The grant check for $500 will be made out to the advisor and mailed to you or your advisor in advance of the appointment as requested.

Financial Education Options (minimum 2 hours required for refresher)

Below are educational options to explore to satisfy the financial education requirement:

Courses and Workshops

Other Online Money Management Classes

  • EdX.org (link to different educational institutions on specific search topics such as personal financial management)
  • Coursera.org (link to different course offered on specific search topics such as personal financial management)
  • Moneyzen.com (Money sage, Manisha Thor, recommends three online courses under her resource tab: 7 Steps to Financial Wellness, Master your Money, and Personal Finance Warrior.)
Personal Information

Please include your home address (not church address)

*First Name
*Last Name
*Address 1
Address 2
*City
*State
*Zip
*Phone
*Email
Clergy Information
*Are you serving a local United Methodist congregation or extension ministry under appointment of the Dakotas or Minnesota Annual Conference?
Yes
No
If yes, in what capacity?

Choose all that apply.

Provisional
Elder
Deacon
Licensed Local Pastor
Extension Ministry
Full-time
3/4-time (75%)
Half-time (50%)
1/4-time (25%)
If yes, what is the name of the church(es) or extension ministry location?

Include full name of church/ministry and its city.

If yes, what annual conference are you appointed to?
If yes, what district are you appointed to?
If no, what is your current status?
Date leave began
Please specify your status
*Have you been serving under appointment for the Dakotas or Minnesota Annual Conference for at least one year?
Yes
No
If yes, what was the date of your first appointment?
Personal Financial Literacy Training
*Have you completed a personal financial education course within the last three years?
Yes
No
If yes, indicate the educational course, date of completion, and give a brief description.
If no, indicate what refresher option you have selected, date of completion, and give a brief description.
Financial Advisor
*Name of Advisor
*Is your advisor a CFP? If yes, provide date of certification.

If no, please find an advisor that is a CFP in order to receive this grant.

Company Affiliation (if applicable)
*Mailing Address
*Phone Number
If scheduled, what is the date of your planning session?
*Mail the $500 grant check to (select one):
Financial Advisor
Applicant
Additional Comments
*Signature

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