Money is deeply personal.
An individual’s unique emotional connections, experiences and values all help to shape their own personal relationship with money.
Financial coaches have the opportunity and responsibility to understand their client’s values, biases and behaviors, and make personal finance truly personal by encouraging clients to share their experiences and deepest concerns, especially when they relate to their financial circumstances.
It is these priorities that make it incumbent on the coach to connect with clients emotionally, and earn genuine trust to be able to identify, understand and collaborate on achieving their client’s goals, in other words, the things that matter most in life.
Coaching models, coaching methods, coaching skills and coaching experience all vary from coach to coach, however every coach must endeavor to help their client contemplate how reaching their financial goals will improve their lives. Coaches must help clients believe that a more financially rewarding life is not beyond their grasp.
Building trust, sharing values, making an emotional connection, enjoying the benefits of collaboration are all keys to a successful coaching relationship, however, none of it matters unless and until the client takes action.
Action is make or break.
Helping clients attain their desired quality of life through helping them understand their behaviors, overcome inertia and hurdle their roadblocks is the coach’s highest and best value.
When the elements of empathy, understanding, curiosity, and open communication are combined with the coach’s technical financial expertise and ability to motivate the client to take action are all present, then the client should feel they are in the ideal environment to confidently take the required steps toward meaningful, life-changing action.