Certified Financial Counselor, Coach, Consultants
When you select a certified financial counselor, you may be assured that you have chosen a counselor who meets top industry standards and can help you reach your financial goals. NFEC Certified Personal Finance Consultants (CPFC) provide guidance and education to help people manage their personal finances and work toward future financial security. They have vested interest in helping you achieve your financial goals. They guide and support you, first evaluating your current financial situation and then clarifying your goals, laying out steps, and offering accountability for your progress.
Most certified financial counselors and coaches just give clients a sounding board. But NFEC counselors offer a wide range of high-level services that help you improve your financial situation. Recent research uncovered 137 financial counseling websites in the top 50 Google results for the search terms ‘financial coaching’ and ‘financial counseling.’ Among those 137 sites, 26 had packages and pricing listed in a place where it was easily found. These data were drawn from those 26 sites. Most of these average counseling sites offered direct contact with the counselor by phone (a few had email options). Educational resources were the next most common offering. Some designed personal financial plans, and a couple provided follow-up planning and reporting. The NFEC’s array of services are shown below, as a point of comparison.
A qualified certified financial counselor will first meet with you in-depth to uncover your current financial situation and clarify your lifestyle needs and goals. The purpose of this discovery meeting will be to comprehensively review your financial profile – including credit, income, assets, liabilities, insurance coverage, and any other relevant detail – and give you a personal financial plan that outlines your financial health. For example, Sarah’s financial review indicated that she needed help with budget management, a savings and spending plan, and debt payoff. To become a certified financial coach or counselor, they completed coursework that help define clear actions that would help her accomplish her lifestyle goals. Understanding her counselor had this training gave her a sense of relief and trust.
By the time Sarah had successfully concluded her counseling, she had become debt-free and was following the budget she had built with her financial counselor’s guidance. At that point her counselor had moved into more of a maintenance role. Although she no longer needed regular counseling sessions, Sarah knew her counselor was there whenever she needed extra support or personal reminders. When she decided she wanted to buy a home, her financial counselor was the first person she called. Learning that the role of what a financial counselor does is being available for future support helped Sarah feel assured progressing forward.