Financial coach definition by the National Financial Educators Council: Financial professional whose role it is to understand a client’s current situation through analysis of their finances; uncover their goals / needs; define clear objectives; prioritize steps; provide education, guidance, and accountability; and support clients to work toward a state of financial wellness and security.
To fulfil their roles, financial coaches must possess the content knowledge and andragogy skill sets to help provide educational guidance to their clients that helps them to confidently take effective action on financial matters that best fulfills an individual’s goals.
It also should be noted that a personal financial coach is also not a financial investment adviser, as defined by the Securities & Exchange Commission. Investment advisers are defined as persons or firms that are “engaged in the business of; providing advice to others or issuing reports or analyses regarding securities.”
Our commitment to our clients is to:
Listen and to understand the situation and circumstances affecting our client’s finances.
Have empathy and to provide education around the subject of financial literacy.
Provide answers to questions and to give options to clients which will help them to reach their goals as quickly as possible.
Educate clients on the best way to manage their finances and to provide hope in their situation.
Provide help and hope to our clients.