Our History and Beginnings

Carol Fabbri, CFP®
Fair Advisors Founder

Breaking the
cycle of debt and
empowering
brighter futures.
Fair Advisors
Institute equips
Coloradans with
the tools for
financial
well-being.

It was a bold idea to work to transform the lives of Coloradans through financial literacy, but one that was greatly needed.

Carol Fabbri started the Fair Advisors Institute (FAI), a 501(c)(3) organization, in the spring of 2010. As a managing partner of a financial advisory firm and co-author of Personal Investing: The Missing Manual, Carol has seen firsthand the effects of limited financial knowledge and resources on working families in Colorado. A staggering number of households in the United States are either unbanked, (no one in the household has a checking account) or underbanked, (someone in the household has a checking account but does not take advantage of any other financial services).

According to The Woodstock Institute, in recent years, the financial life of the typical American family has become increasingly complex. New products and technologies are fundamentally changing the ways we relate to money. The avalanche of credit card and home equity solicitations that families receive through the mail is just one example of the significant increase in the marketing of financial products. As a consequence of the changing structure of our economy, financial knowledge has become not just a convenience but an essential survival tool. A lack of financial knowledge can contribute to the making of poor financial choices that can be harmful to both individuals and communities. Without an appreciation of money concepts and an understanding of financial options, people are likely to pay more than they have to for financial services, fall into debt, damage their credit records, and over-invest in some financial products while under-investing in others. Low-income families that lack basic financial skills become more vulnerable to sudden economic shocks such as health emergencies or unexpected job losses. Decreased family stability, increased foreclosure risks, and disinvestment in homes and local businesses challenge already disadvantaged lower-income communities.

FAI was created and designed in the spring of 2010 to address the current and emerging financial needs of families in our state.