For Financial Advisors

Behavioral Money Coaching Can Help Your Clients Achieve Their Financial Goals

What is behavioral money coaching and how can it help your clients?

• Behavioral money coaching is a short-term process (4 – 6 sessions) that helps individuals and couples break through feelings of anxiety and avoidance around money so that they can put their financial plans to work.
• Clients hire financial advisors like you because they want a strategy to meet their financial goals. Yet many clients fail to follow through on the agreed-upon plan. They usually want to stick to the plan. But they have behavioral and emotional blocks that prevent them from doing so. They may feel shameful that they are unable to follow through. This shame can lead clients to avoid your calls, postpone action, or become argumentative.
• Behavioral money coaching helps individuals and couples become aware of their attitudes and behaviors around money.
• Once clients are aware of their beliefs and patterns of behavior, they finally have the choice to act differently.
• For some clients, once they become aware, they are immediately able to change their behaviors. Others need ongoing coaching to break entrenched habits.

How I work with financial advisors

• Behavioral money coaching is a complementary service to your advisory relationship. As a coach, I am a third-party professional who works with your client directly on a short-term basis. The objective is to help them gain awareness and control over their money behaviors, so that they can work with you to achieve their longterm financial goals. 
• When a client of yours shows anxiety or avoidance, let them know you have a resource that can help. You can schedule a consultation with me directly, or together with your client, to explore if coaching can benefit them. Your client may also contact me directly. 
• Once your client decides to go forward with coaching, then the client and I work directly together. Coaching costs are typically paid by the client.
• Coaching sessions are confidential. But ideally the client will give permission for all of us to meet at the conclusion. This is an opportunity for your client to share their new insights with you so that you can support their ongoing growth.