What to Expect from a Financial Coaching Program
Have you ever wondered what financial coaching actually entails? What information would you need to provide? How long it takes and what it costs? If yes, then this is for you! Here is a summary of my coaching process:
- Initial meeting (Discovery)
The financial coaching process begins when a potential client initiates contact with me. This may be via email, my contact page on the website, or via LinkedIn. I then request that you complete the registration form on my website. This form gives me your basic information and a summary of the issues you are struggling with. Once I’ve received the completed form, I send you an email advising you how to book a strategy meeting. The initial discussion usually lasts around 30-45 minutes. During this meeting:
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- I try to understand your current situation.
- We discuss the issues or problems you see in your current financial status.
- We determine if my experience and training can be of assistance to you.
- I ascertain that the you are actually dedicated to making a change.
- I give a brief explanation of the coaching process and the investment it requires.
This initial meeting (or strategy session) allows us to get to know each other better and is also the perfect time for you to ask all your burning financial questions. There is a nominal fee required for this discovery meeting that is eventually deducted from the coaching fee should you opt to proceed with the program. For some people, even just having this strategy session is enough to enable them jumpstart their financial journey, and they are then able to get on the right track on their own.
- Gathering data and setting goals (via questionnaires at every major discussion)
If after the strategy session, both you and I have an interest in working together, I will forward to you a coaching agreement, a breakdown of the course and a quotation of the fees that we will already have discussed. Upon receipt of the signed agreement and the payment of the coaching fee, I grant you access to our supporting resources (an online course, questionnaires, etc.) and an appointment will be set to have our first program session.
The program sessions typically last 45-60-minutes. During each session, we’ll discuss in great detail your financial situation (including but not limited to your aspirations, your cash flow, your debt, your investments, etc.) using information we will have gathered from questionnaires I will have provided to you.
- Recommend changes where necessary
As we proceed with the sessions, I help you understand your spending habits, understand the emotional components of dealing with money, learn how to appropriately invest, how to manage debt, etc. We therefore adjust your current habits appropriately at every step of the way.
- Preparation of the final financial report
Once we have gone through all the sessions (typically there are 6-12 sessions depending on whether or not you require extra sessions for clarification), I will prepare for you a personalized final financial report. You will be able to use this report as a blueprint to guide your way forward.
- Implementation of plan
The comprehensive financial plan is only useful if it is implemented. With my guidance, you’ll choose the most appropriate financial solutions to enable you achieve your goals.
- Annual review.
We should review your financial plan periodically, or whenever a life changing event occurs in your life. Review ensures your plan remains relevant to your life circumstances.
With a well-designed plan, you will be in control of your finances and on track to achieving your financial goals. You will have an orderly financial life without the stress that often plagues so many people’s lives.
If this process sounds like something you’d like to explore further, I welcome the opportunity to discuss it with you. Book your initial meeting HERE.