Find a Financial Life Coach Suited to You

If you’re seeking a financial life coach, you may select from among the NFEC’s national network of highly-qualified coaches who are certified and trained to help you meet your goals and are registered Certified Personal Financial Wellness Consultants. These coaches have proven that they meet rigorous industry standards and feel passionate about guiding others toward secure financial futures. The NFEC’s team of qualified financial life coaches have a primary goal of providing education, support, and accountability to guide people toward improving their personal finances. The coach’s role is to analyze clients’ current financial situations, define their goals and needs, and prioritize objectives and action steps that move them toward financial health.

Read More

Financial Life Coach Standards and Qualifications

Nowadays just about anyone can call themselves a financial life coach. To become a financial life coach – no training is required. NFEC coaches – by comparison – meet strict standards for education, experience, and background to ensure that your financial situation stays secure. The NFEC team of certified financial life coaches must pass educational and implementation criteria demonstrating their knowledge and positive client outcomes. The NFEC adapted its standards from four industries: financial/consumer protection; psychology/counseling; financial education/education; and consulting/coaching. They used these guidelines because financial life coaching requires dealing with money, which evokes strong feelings in people. The coach must uncover each person’s unique needs and objectives and offer guidance, support, education, and accountability to help the person achieve financial wellness.

Concepts for Financial Life Coach Operations
Financial Life Coach Fees Competitive Analysis

What an Average Financial Life Coach Provides

What will you get from the average financial life coach? We did a search using the terms ‘financial life coaching’ and ‘financial life counseling’ and turned up 137 websites in the top 50 Google results. From among those 137, 26 had clearly listed package and pricing information on their sites where we could readily find it. Talk time was the most common offering, generally by phone (some had email options). Providing educational resources (i.e. coursework, training) was the next most common feature, followed by written personal financial plans (a few with re-reporting). In contrast, the NFEC offers a comprehensive selection of services that their financial life coaches offer, as shown in the infographic.

Suggestions for Financial Life Coach Expertise

1) Needs, Goals & Plan

During Phase 1, your financial life coach will meet with you to discover and analyze your full financial profile. The coach will take a look at your entire situation including banking, credit, assets and liabilities, and insurance coverage. Then you’ll be given a detailed, step-by-step priority plan with support and accountability to accomplish each milestone.

Integration of Financial Life Coach Resources

Universal Financial Life Coach Components

2) Education, Guide, Replan

Phase 2 consists of regular meetings and education with your financial life coach. Gaining access to high-quality financial education materials and personal life training will help you develop skills to reach your predetermined financial goals. It’s crucial to keep all your information up-to-date, so you can recognize your achievements and your coach can make data-driven suggestions of changes to your personal finance plan across time.

3) Continued Support, Accountability

Phase 3 occurs after your initial needs have been met and the key areas for planning and building a strong financial foundation have been addressed. Now your financial life coach can move into a role that mainly focuses on maintenance. That is, the life coach simply gives you education and resources when you need them; and keeps you aware of any changes to the financial markets that might affect your situation.

Access to Niche Financial Industry Experts

In the last phase, your financial life coach can offer the next level of support by connecting you with specific expertise that aligns with your life stage. NFEC consultants are available to work with you in their expert fields. For example, if you’re choosing a retirement plan, your life coach can match you with a retirement expert to help guide your selection. These industry experts are 100% independent, so you will never be subjected to a sales or marketing pitch.

Key Systems for Financial Life Coach Proposal

Financial Life Coach Takes Holistic Approach to Promoting Financial Wellness

Currently in the U.S. most adults have never received basic money management training. The recent Great Recession underscored the need for more people to gain personal finance skills, but where should one turn for help? The National Financial Educators Council (NFEC) has a financial life coach training program that can provide a solution to meet any budget and fit any life situation. This financial coach certification program turns out qualified graduates – known as Certified Financial Education Consultants (CFECs) – who can help individuals and communities develop money management systems and work toward their financial goals.

These trained coaches are dedicated to providing expert advice and financial education. They begin by obtaining a deep understanding of clients’ current situations and future plans and preparing a comprehensive report. Then, unlike other financial professionals who may be vested in selling products or only capable to advise people in one specific area, financial life coaches take a holistic approach to financial wellness. They lay out an overall plan tailored to each individual situation, and can act as point of contact for a person’s CPA, realtor, financial planner, and other advisors so everyone stays on track toward your goals.

The NFEC can offer a financial life coach to match your needs and budget. Every CFEC graduate is qualified as a financial fitness coach who has completed more than 120 hours of rigorous training, much of which is presented in the form of practical hands-on exercises that prepare these coaches to help you set and accomplish realistic goals. They also have access to all the tools they need to serve clients most efficiently, including a Client Management Platform, automated communication system, planning software, and website resources. Finding a financial literacy coach with your best interests at heart can make the difference of a lifetime.