Financial Advisor vs Financial Coach: What's The Difference?

What's the difference between a financial advisor and a financial coach?

Which one do I need?

Short Answer: Both.

Longer Answer:

Financial Advisors: Typically provide investment guidance. Often cater to individuals with substantial assets or complex financial situations. They can assist with retirement planning, tax and insurance strategies, and investment management.

Primary Focus: The behavior of your money.

Financial Coaches: Help clients build personal finance skills, literacy, and money management habits. Helpful for individuals seeking to improve their financial habits, set and achieve goals, and make informed decisions, regardless of their wealth level.

Primary Focus: Your behavior with your money.

Summary: Both are important parts of a personal financial support network.

Those with established financial portfolios will find significant value with a quality financial advisor.

Those looking to grow in their financial abilities, tackle debt/budgeting, and create healthy financial habits can greatly benefit from the supportive approach of a financial coach.

Understanding these differences can help you choose the right support for your unique financial needs.

Learn more about financial coaching by booking a consultation today!