Client Questions – What is the difference between a Financial Planner / Investment Advisor and a Financial Coach / Counselor?

Client Questions – What is the difference between a Financial Planner / Investment Advisor and a Financial Coach / Counselor?

Unlike Financial Advisers, we do not sell investments, insurance or other financial products. Our Financial Coaches coach on a flat fee basis and can easily show you how our services will more than pay for itself over a short period of time. Many times our clients tell us they save more than their initial investment over the first two – three months. If you apply the principles we teach we guarantee coaching will more than pay for itself within six months. Effectively, our coaching becomes free.

We are here to help you and not sell you some product (insurance or investments) that you may or may not need. Most financial planners / investment advisors will not help you get a budget and debt elimination plan together unless they see that you can “spare” some money for something that they can sell you. We will evaluate if you need any of the products mentioned above and tell you exactly what you need and then you can go and shop for that product and find the best deal. Do let someone talk you into something that you do not understand when all that you needed was a financial check-up, budget check, and debt elimination plan.

I have seen to many of my clients buy products that they did not need to the tune of $50-$500 a month and they are in credit card debt. If you are in debt you do not need to be investing in anything besides an emergency fund until you are out of debt. If anyone tries to sell you something that does not help you get out of debt, then run! Get out of debt and then you will have the money to invest they way you should. Also, always look for the heart of a teacher when it comes to your investments, budget, life insurance, and debt elimination. I will say it again but if you do not understand the product do not buy it.

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