Financial Coaching Module 1

COACHING PRACTISE

Difference between financial coaching and financial advice?

A financial coach’s job is to provide a client with the knowledge, skills, and behaviours that will help them build wealth in the first place. A financial coach has no tie in with products at all; they do not manage investments, nor sell insurance. We might educate our clients on the basic concepts of insurance, investing, diversification, etc., but we never provide specific recommendations on where to invest.

Financial advisors most commonly help to manage the wealth that already exists

Financial advisors have ties with an investment house or insurance company. They focus on the technical side of the products/solutions.