Financial Coaching Module 1

WHAT IS FINANCIAL COACHING? Financial coaching is a confidential, judgment-free relationship with a

Coaching delivers results because of the supportive relationship between you and the client. Coaching uses a strength-based approach and a client-driven agenda financial goals are set by the client for the client. Financial coaches fill an important role by taking a big picture approach to finances and by focusing on clients’ goals and challenges. Financial coaching fosters congruence between the clients’ financial goals and their personal goals and values. An alternative to the typical engagement model between client and financial advisor financial coaching is emerging as a distinct service. It means financial coaching is an appealing way to expand their financial planning practises as a new way of doing business.

personal finance expert to help address current and immediate issues, and then proactively map out actions needed to accomplish future financial goals. The coach will help the client clarify their goals, suggest changes as needed, and assist in aligning client-specific priorities with a financial plan to achieve major life goals. Just as athletes, entertainers, and entrepreneurs often utilize coaches to improve themselves and their ventures, a financial coach will come alongside to help individuals and families improve their personal financial situation through education, guidance, standard practices, and accountability. Financial coaches are trained to understand money and the details of managing personal finances, helping their clients identify opportunities and learn techniques to better manage their money. It's a misconception that your coach would make decisions for you, but instead of handling your money and financial decisions directly, they teach you management skills while helping you reach your financial goals.