Secure a Personal Financial Consultant
If you are in the market for a personal financial consultant to help you work toward a secure financial future, the NFEC’s nationwide network of highly-qualified Certified Personal Financial Wellness Consultants fits the bill. This consulting network is comprised of counselors who have demonstrated their excellence by meeting the most demanding industry standards. This consultant team is made up of those with a passion for guiding others along the road toward financial health.
The main objective of an NFEC personal financial consultant is to provide education and guidance to people who wish to improve their money situations. With an entrusted commitment to your success, we strive to understand your current fiscal situation through empirical analysis, and then provide personalized counseling, education, and accountability to move you toward a more secure financial future.
Read More
Standards Defining the Qualifications of a Personal Financial Consultant
There is a difference between a ‘personal financial consultant’ and a Certified Personal Financial Wellness Consultants. NFEC consultants demonstrate that they belong in the top tier of standards and maintain fiduciary responsibility to you – they are required to act in your best interest. Each consultant who receives the Certified Personal Financial Wellness Consultant designation demonstrates successful completion of hundreds of hours of education, passing a rigorous test, and undergoing strict background checks. NFEC Financial Coaches also have passed implementation and performance evaluations by conducting counseling sessions under supervision, documenting hours and recording client outcomes to prove their counseling capabilities.
What does a financial consultant do? The NFEC created its standards that define the qualities and qualifications of a financial consultant: 1) counseling/coaching principles, 2) financial education/education, 3) counseling psychology, and 4) financial and consumer protection. The purpose in drawing upon these essential industries was to ensure that each certified counselor is well-qualified to deal with people’s personal finances, an emotionally-fraught subject which requires the establishment of clear goals and the provision of education, support, and accountability to guide clients toward greater financial wellbeing.
Offerings of Many Personal Financial Consultants
Someone to talk to – that’s all the average personal financial consultant is likely to provide. Contrast that with NFEC consultants and those who receive our financial coach certification have a vast array of deliverables available, all directed toward helping you improve the state of your personal finances. To draw this comparison, we collected data in a Google search using the terms ‘financial counseling’ and ‘financial coaching.’ Among the 137 websites that came up in the top 50 pages of results, 26 had package/pricing information clearly shown.
As expected, talk time was the most prevalent service the average consultant offered (by phone generally; some with email options). Providing educational materials in any form (e.g. courses, training) was the next most common. A select few offered customized written personal finance plans, and a very small proportion provided re-planning and reporting (with adjustments to the initial plan and/or separate reports indicating fresh data). Refer to the following infographic to learn the processes and deliverables offered by NFEC personal financial consultants.
Personal Finance Consultant Initial Meeting
Upon completing the analysis, your consultant will generate a custom-tailored Personal Financial Plan Report that outlines your long-term goals, immediate priorities, and plans for action. The consultant’s depth of understanding around all aspects of your financial health will enable him or her to give you the highest level of support and guidance as you work toward your objectives.
Day-to-day Work with a Financial Consultant
Having the most current data is critical to illuminate any changes to your situation. Your consultant therefore will conduct continuing financial assessments and provide you with written progress reports. These reports track and recognize your achievements and allow your consultant to revise your planning recommendations using empirical decision-making methods.
Transitioning the Consultant Role
Maintenance and support form the cornerstones of the third phase in your personal financial consultant’s role. Here you have met your immediate needs, addressed key areas upon which to focus, and have a clear plan for building a strong financial foundation. Your consultant now may transition into a less prominent role, just helping to maintain and support you through the financial decisions you are learning to make effectively.
As you need education and resources, your financial coach will be there to provide them. He or she will apprise you of important dates and changes to the financial marketplace that may affect your situation. As you encounter key stages in the life cycle, your consultant will remain available to offer timely guidance and support.
Connection with Niche Financial Industry Experts
At the fourth and final stage the personal financial consultant has capacity to build connections between you and industry experts when you need specialized assistance. All NFEC consultants work with you in their niche areas; they also have access to a team of experts in various fields that may serve your need. For example, if you are considering a home purchase or conducting due diligence to explore an investment opportunity, we have an expert who can support your effort.
Every personal financial consultant and industry expert on our team is 100% committed to you – meaning they will never attempt to sell or market a financial product.
