Financial Coaching Module 1

COMPLEMENTARY RELATIONSHIP What is the parallel or complementary relationship between financial coaching and financial advice? Both disciplines provide distinct services. Financial advisors need to be armed with coaching principles, strategies, and tools. On the surface, offering this service to individuals who don’t fit the mould of typical clients, might seem like a less valuable use of your time as a financial advisor, however, what you’re doing is planting the seeds of trust for future engagement with this audience demographic. By providing both services, you will be able to better meet your client’s needs while increasing your own marketability. Your clients will benefit from having access to both services, as they can get the strategic advice they need while also learning how to make better decisions and build strong habits. Financial coaching improves their knowledge and become more financially aware, whilst also breaking down barriers around what a financial advisor can do for your wealth long-term.