8-Step Framework for Financial Coaches

Distinguished financial coaches have a detailed framework in place that will help their clients through each step of the coaching process.

A clear coaching process builds trust with clients, helps them feel more secure with the understanding of each step, and supports them as you direct them through the coaching steps. It also helps you – as a coach – stay organized and efficiently move clients toward their financial goals.

Learn about the NFEC’s 8-step coaching framework with this article, infographic, and video. Leave with an understanding of how you can employ this process to become a well-respected coach who can serve clients better.

8 Steps in the Financial Coaching Process

  • 1: Understanding Clients’ Current Financial Situations. Financial coaching starts with gaining a deep understanding of each client’s current situation.
  • 2: Understanding Clients’ Goals and Future Needs. Each client has different needs you must consider when helping people plan.
  • 3: Diagnosing Areas to Best Help Clients Meet their Goals. Identifying the root causes of your clients’ current situations is a skill set coaches must possess.
  • 4: Establishing Goals & Outcomes. Working with your clients, help them establish short-, mid-, and long-term goals with reasonable timelines.
  • 5: Prioritizing the Steps for Maximum Efficiency. Structured planning can reduce the time it takes for your clients to meet their goals.
  • 6: Providing Education and Guidance to Support Clients’ Action. Once clients are armed with a clear plan and steps to follow, a coach’s role shifts to education and guidance.
  • 7: Offering Support & Accountability. Along with education, coaches provide support and accountability to help clients complete the steps to reach their goals.
  • 8: Review & Report on Progress. As a professional coach, it’s important for you to measure, track progress, and celebrate your clients’ accomplishments.

The NFEC Provides the Resources Needed at Each Coaching Stage

Outside the training, the NFEC provides you with all the resources you need to coach with a professional-level touch. With each client meeting, you will have materials you can hand out, email, or give to clients via online access. These resources ensure that clients feel supported and can participate in your coaching program using the medium they prefer. Resources include:

Stage 1) Understanding Clients’ Financial Situations
Client Intake Form
Meeting Preparation & Reminder Communications
Complete Scripting
Visual Aids for Client Interview

Stage 2) Understanding Clients’ Goals
Scripting & Activities to Understand Personal Goals
Lifestyle & Financial Goal Interview
Financial Psychology Surveys to Understand Values

Stage 3) Diagnosing Your Clients’ Situations
Comprehensive Client Report – 31 Financial Wellness Indicators
Financial Wellness Indicator Ratings
Diagnosis Guide to Uncover Root Causes of Financial Challenges

Stage 4) Establishing Goals & Outcomes
Meeting Scripting for Client Goal-setting
Goal-setting Activity & Planner

Stage 5) Establishing Client Goals & Prioritizing
System to Prioritize with Clients
Prioritization Worksheet Aligned with Eisenhower Method
Financial Action Planner & Assignment Worksheets

Stage 6) Education & Guidance
Full Library of Education Resources – Handouts & Fillable PDFs
Complete Access to Online Learning
All Resources Perfectly Aligned with Software & Diagnosis Guide

Stage 7) Support & Accountability
Communications to Encourage & Support Clients
Worksheets to Track Progress & Hold Clients Accountable

Stage 8) Reporting & Progress Check-ins
Client Report Updates & Client Tracking System
Ongoing Timely & Calendar-based Education

All Financial Literacy Package Resources