Locate a Personal Finance Coach
If you are interested in locating a personal finance coach, the NFEC has available a national network of extremely well-qualified consultants who can help you identify and reach your individualized personal financial goals. Certified Personal Finance Consultants have met the highest standards for the industry; they are uniquely equipped with the knowledge and skills to help people work toward secure financial futures.
The main goal of a personal finance coach certified by the NFEC is to provide guidance and education to those individuals who seek to improve their financial situations. Enlist the help of a coach who has a vested interest in your success and helps you work toward financial wellness by providing personalized coaching and education. By conducting empirical analysis of your finances, the coach will uncover your needs and goals; define clear objectives and prioritized action steps; offer education and guidance, accountability and support to help you achieve a state of financial health and security.
Most personal finance coaches have limited offerings, usually just talk time. NFEC coaches – on the other hand – provide a comprehensive array of services designed to help you improve your financial situation. Recently we conducted research to compare the deliverables provided by NFEC-certified coaches with the average personal finance coach. We reviewed 137 websites that came up in the top 50 Google search results using the keywords ‘financial coaching’ and ‘financial counseling.’ Out of those 137, 26 offered up-front package and pricing information easily found on the site.
The most commonly offered service was direct coach contact (phone contact was most prevalent, although some offered email options). We found some who provided educational materials in any form (for example, courses, ongoing training, or published resources). Just a handful offered a custom-written Personal Finance Plan based on the client’s individual situation, and only a couple had re-planning and reporting services (including both adjustments to the initial personal finance plan and separate reports showing new data). Please review the infographic below to compare the comprehensive process and deliverables that NFEC financial coaches provide.
Our coaches strive to understand all aspects of your personal finances, including your current situation; your goals and lifestyle needs; and your prevailing sentiments toward money. Then the coach will prepare a detailed Personal Finance Plan Report based on your unique situation, with priorities and clear action steps identified. After delivery of your initial personal financial report, the coach will move into the next phase to provide guidance and support.
Once your most immediate needs have been addressed and your coach has identified the key areas where you need improvement to build a strong financial foundation, Phase 3 involves the coach moving into more of a maintenance position. That is, once you’ve achieved your primary objectives, the coach can step aside and let you do the work – but staying available for ongoing support when you need it.
Your personal finance coach also will provide you with ongoing education and keep you updated on changes to the financial markets that may have key impact on your situation. The coach will offer personalized reminders of important dates and provide you with the resources you need to plan ahead. The coach is there for you during major life events related to your personal finances and will support you through the decision process. He or she will give you timely support and guidance at critical junctures in your financial life stage.