of pursuing financial coach training in Toronto? In these days of job and lifestyle
stress, lots of individuals and families need the unbiased advice of a
professional who can hone in on financial planning goals. But it’s more than
looking at someone’s cash flow. A financial coach is also a money therapist,
helping to unlock and correct issues and behaviors a client often has when it
comes to spending and saving.
Difference Is the Bottom Line
what is the difference between a Financial Coach and, say, a Financial Advisor?
While both would take an in-depth look at a client’s overall financial picture
and spend time ascertaining the client’s goals and objectives, there is a
fundamental distinction. WHO does the Financial Advisor or the Financial Coach
Financial Advisor usually works for a financial institution, such as a bank,
promoting financial services, be it investments, insurance, or mortgages. The
bank’s products – such as GICs, mutual funds, RRSPs – are offered. Ultimately,
the Financial Advisor is a salesperson. And like a salesperson, a Financial
Advisor is paid a commission, flat fee or a mix of both from the financial
institution offering that financial or insurance product. The Financial
Advisor, therefore, is not necessarily providing an objective service to the
client, as he/she is obligated to represent the institution’s best interests.
Financial Coach doesn’t work for the client; A Financial Coach works with the client. So if there
is someone a Financial Coach is committed to, it is the client. A Financial
Coach does not sell a financial product. Rather, working fee-based and
impartially, a Financial Coach helps clients invest in themselves at whatever
life stage or age. The services of a Financial Coach aren’t limited to
resolving financial setbacks, but also to fostering successes. A Financial Coach
will help a client focus on goal setting and cash flow planning in order to
help the client realize targets such as paying off debt in record time,
improving a credit rating and building on savings. A Financial Coach is essentially a money coach.
financial coach training from a reputable institution is first and foremost and
will take you through:
of financial coaching
flow analysis and debt management
a financial action plan for a client
systems to set up a financial coaching business, such as a Money Coach software
certification as a financial coach is an optional step, but one that potential
clients will appreciate, as it attests that additional training and a higher
level of learning and knowledge have been achieved. On the job mentorships with
established financial coaches as well as web seminar and teleconference
training provide extra hands-on experience and know-how.
Is On Its Way
athletes and sports teams have coaches; so do singers and actors. They want to
do better. So why not too a "financial coach” for everyday consumers and
families? In these uncertain economic times, people are coming to realize that
banks are ultimately in service to their shareholders and bottom line – and not
their customers. Financial Coach training in Toronto is a way to help people
better connect with their money and improve their lives.