Pro Bono

AAA

DEFINITION of 'Pro Bono'

Professional services dispensed on a voluntary basis at no cost to the recipient. Derived from Latin, pro bono means to work for the public good, and is most commonly used in the legal profession. The provider of a pro bono service may generally do so only to a party that is unable to afford the service. In doing so, the provider is perceived to be imparting a benefit for the greater good, rather than for the usual profit motive.

INVESTOPEDIA EXPLAINS 'Pro Bono'

Some financial planners provide pro bono services to non-profit organizations and individuals who have impoverished themselves through financial mismanagement. Pro bono services offered may be of immense value to someone who can avert bankruptcy. For example, a family in financial troubles might need advice, but can not pay for it. Pro bono services are the only help available when the family needs it most.

RELATED TERMS
  1. Prudent Investor Rule

    A guideline that requires a fiduciary to invest trust assets ...
  2. Pro-Tanto

    A Latin phrase meaning "for so much" which is often associated ...
  3. Fiduciary

    1. A person legally appointed and authorized to hold assets in ...
  4. Shingle Theory

    A suitability doctrine first introduced by the Securities and ...
  5. National Association Of Insurance ...

    A nonprofit group that works on behalf of its members to promote ...
  6. Financial Planner

    A qualified investment professional who helps individuals and ...
RELATED FAQS
  1. What does "pro bono" mean?

    The term pro bono is short for the Latin "pro bono publico," which means "for the public good." The term generally refers ... Read Full Answer >>
Related Articles
  1. Professionals

    Start Your Own Financial Planning Firm

    Read on to find business tips to make your dream a reality.
  2. Retirement

    Financial Planning: It's About More Than Money

    Determine what you need to do now to make a drastic lifestyle change later.
  3. Professionals

    Be A One-Stop Shop For Your Clients

    Offering comprehensive financial services can bring in business, but coordination is the key to success.
  4. Professionals

    Is A Career In Financial Planning In Your Future?

    Take our quiz to find out whether you're suited for this line of work.
  5. Investing

    Internet.org: What It Is and How It Works

    Basic Internet access remains out of reach for many in developing nations. Internet.org aims to bring basic Internet access to these countries.
  6. Taxes

    Top Fund-Raising Strategies For Nonprofits

    Top fund-raising strategies for nonprofit organizations
  7. Taxes

    The Top Nonprofit Organizations

    Did you know basketball and volleyball were invented by instructors at a charity?
  8. Personal Finance

    How To Start Your Own Private Foundation

    Private foundations can be time consuming and expensive to set up and operate.
  9. Entrepreneurship

    Microfinance: What It Is And How To Get Involved

    This growing industry is full of opportunities for the socially conscious investor.
  10. Personal Finance

    5 Good Reasons To Build A Career In Nonprofits

    There's never been a better time to work in non-profits. The move makes sense at life stages from just starting out to looking for an encore career.

You May Also Like

Hot Definitions
  1. Subsidy

    A benefit given by the government to groups or individuals usually in the form of a cash payment or tax reduction. The subsidy ...
  2. Sunk Cost

    A cost that has already been incurred and thus cannot be recovered. A sunk cost differs from other, future costs that a business ...
  3. Technical Skills

    1. The knowledge and abilities needed to accomplish mathematical, engineering, scientific or computer-related duties, as ...
  4. Prepaid Expense

    A type of asset that arises on a balance sheet as a result of business making payments for goods and services to be received ...
  5. Gordon Growth Model

    A model for determining the intrinsic value of a stock, based on a future series of dividends that grow at a constant rate. ...
  6. Cost Accounting

    A type of accounting process that aims to capture a company's costs of production by assessing the input costs of each step ...
Trading Center