Financial Coach vs. Financial Planner vs. Financial Advisor:

What’s the Difference?

This is a common question financial coaches get. People don’t understand the nature of our industry and how a financial coach differs from financial planners and financial advisors. That’s understandable because the financial coaching industry is still relatively new.

Let’s define what planners and advisors do versus what I do. We all have different roles to play.

Financial Coach vs. Financial Planner vs. Financial Advisor: The Bottom Line

While the terms financial coach, financial planner, and financial advisor are often used interchangeably, they are not the same thing. Each role has its own unique set of skills and responsibilities.

A financial coach is a professional who works with individuals to help them develop financial literacy and achieve their financial goals. Financial coaches typically focus on budgeting, debt reduction, and saving strategies. They help clients understand their spending habits and develop strategies for living within their means. A financial coach may also help clients establish a savings plan or set financial goals such as buying a house or paying for college.

A financial planner, on the other hand, is a professional who helps clients develop a comprehensive financial plan. This plan typically includes retirement planning, estate planning, investment strategies, and insurance planning. Financial planners work with clients to identify their financial goals and develop a plan to achieve those goals. They may also provide ongoing advice and guidance to ensure that clients stay on track.

A financial advisor is a professional who provides investment advice and manages investments on behalf of clients. Financial advisors may work for a financial institution or be self-employed. They typically offer a range of investment products and services, such as stocks, bonds, mutual funds, and annuities. Financial advisors help clients understand the risks and potential rewards associated with different investments and make recommendations based on the client’s goals and risk tolerance.

Each Of Us Excels in Our Area of Expertise

Are you seeing the pattern? The advisor and planner are mostly investment professionals. They tend to take more of a passive role in your daily finances. As your coach, I help you do the right things every day.

I work with you on your unique situation and help you develop a plan to make financial gains month-to-month, and year-to-year. My concern is the health of your entire financial situation.

Financial coaches, financial planners, and financial advisors all play an important role in helping you achieve your financial goals. Planners and advisors grow the money you invest. Where a coach will help you find more money to invest with. We are all here to help you find the financial freedom you’re looking for.

Have more questions about what I do? Let’s talk – about how I can help you.

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