City of Rochester Launches Free Legacy Planning Program to Help Increase Intergenerational Wealth

The City of Rochester, in partnership with the national nonprofit Cities for Financial Empowerment (CFE) Fund, announced today that legacy planning services are now available through the Rochester Financial Empowerment Center (FEC). The free one-on-one financial counseling program provides city families with support and access to knowledge and information to take steps toward protecting and preserving their assets.

The Rochester FEC team empowers residents to reach their financial goals by focusing on five areas: reducing debt, increasing credit, improving savings, legacy planning, and having access to safe/ affordable bank accounts.

“Every family deserves the peace of mind that comes with planning for the future,” said Mayor Malik Evans. “By offering free legacy planning services, we are breaking down barriers that too often prevent residents from protecting what they’ve built and ensuring their loved ones are cared for. This is about equity, dignity, and helping our community thrive across generations.”

Research shows that the vast majority of Americans own at least one asset – a bank account, a 401K, or a home – that is valuable today and likely to appreciate, but few have taken the steps necessary to secure those assets. Nearly 70 percent of Americans do not have a will or a broader legacy or estate plan. By increasing access to information about topics like adding beneficiaries to accounts and creating essential documents such as wills and powers of attorney, this program will help people in America protect their assets for the future. 

“Rochester FEC counselors work hard to help clients build assets. With the addition of legacy planning services, counselors also can help families protect and preserve those assets for future generations”, said Jonathan Mintz, President and CEO of the Cities for Financial Empowerment Fund. “We are thrilled to partner with Rochester and Mayor Evans to provide these crucial services and ensure that legacy planning is available to everyone.”

Rochester is one of dozens of cities and counties nationwide offering free financial counseling services through the FEC initiative. At FECs, professionally trained counselors provide one-on-one guidance to help individuals and families with low and moderate incomes manage their finances, pay down debt, increase savings, establish and build credit, access safe and affordable mainstream banking products, and now protect and preserve their assets.

FECs have served more than 200,000 clients nationwide. Collectively, they have helped residents reduce over $344 million in debt and grow their families’ savings by nearly $70 million. Since opening in 2020, the Rochester FEC has supported more than 3,300 clients, helping them reduce $5.6 million in debt and build $2.4 million in savings.