FAQ

faq final

 

I hear a lot about financial coaches. What is the difference between a Certified Financial Coach and a person saying he/she is a financial coach?

There are people who don’t understand the difference between coaching and advising and they may take on the label of a financial coach. They may or may not be trained to know the difference. If they are trained, the question to ask is if they are trained to meet or exceed International Coach Federation Standards and if the hours of their training count for additional credentialing through the ICF.  A Certified Financial Coachrequires coursework and attain formal licensing through the CFC-Board of Governors. They are also trained to ICF Standards by instructors who are legendary in the field of coaching.   There is a great difference between the skills of a trained Certified Financial Coach and a person who is a self proclaimed financial coach.

 

Are there professional standards for the coaching industry?

Yes, there is a code of ethics, core competencies, accreditation processes and an International Coach Federation (ICF industry association) that promotes the advancement of coaches.

 

Do you think that there may be a reason why someone as wealthy as me might work with a Certified Financial Coach?

 

What is interesting is some people find that even though they have everything taken cared of — there are days when they just don’t feel satisfied. They may feel they are continually seeking to have more — but that “more” probably doesn’t have a lot to do with what money can buy. They may want to know what it is in life that they might be missing. Also, some people get concerned about what they will do in retirement. They worry that they will just fade away because their career has defined them. They may be unsure whether money is serving their life.

 

If you see yourself defining wealth with how much money you have or possibly feel a bit uncomfortable in what is going on in your life, you may want to see if there is more.  It is nothing major — you just may be ready for a different experience or a shift of perspective regarding how your wealth relates to you. The Certified Financial Coachis trained to work with individuals needing a boost to become empowered in their financial life AND possibly wanting more out of life.  When a person comes with that “need for more” the Certified Financial Coach works both as a coach and as an educational guide to help individuals see if looking at life from a new expanded position may allow the person to create what is needed to fill the gap. You may just be surprised at what you can learn.

 

I attended a seminar and the person called himself a financial coach and when I met with him he tried to sell me a financial product.  How can I tell if a financial coach is legitimate?

 

We suggest checking a person’s credentials in two different ways.

 

1.  Check the credentials of the organization where they received their “coach training”.  Did they go through a formal training program or are they a self-proclaimed financial coach?   If they were trained, ask for the organization’s name and ask to see the professional’s license or certification. Then check out the organization on the ICF website to see if the organization’s coursework is approved for either continuing education or additional coach training through the ICF.

2.  The second way is to check out the legitimacy of the person’s credential.  Organizations who certify or license coaches keep lists of the coaches who continue to meet the ethical and legal standards required to keep their certification.  Again the ICF holds the standard and benchmarks for coach training.  All Certified Financial Coach professionals are trained to ICF standards, are trained by instructors dedicated to meeting and exceeding the educational requirements for ICF coach training hours and are provided additional mentor coaching and experience training to be knowledgeable regarding how to specifically coach in the area of finance.  These licensed professionals are required to abide by both an ICF and a Certified Financial Coachcode of ethics. The ICF and code of ethics have strict restrictions on how coaches are paid.

 

How will I know if a person is the right Certified Financial Coach for me?

During your initial conversations and/or discovery session, you and your possible coach will identify if working together is right or an appropriate fit. So before you say “yes”, the coach will provide you a sample of what the coaching experience will be like. Also make sure you check out the coach’s BIO page to learn more about their training and approach in coaching.

 

What can I expect from a Certified Financial Coach™?

 

Certified Financial Coach professionals are skilled in transformational coaching and also have a high sophistication with specialized proprietary tools which help you move to wealth mastery.  As a coach you can expect this trained coach to:

 

1. Be a partner in bringing out the best, the deepest, and the truest in you

2. Provide safety, encouragement and support; an environment in which you can relax and explore

3. Respect the confidentiality of the agreements made

4. Expand your view of what is possible and promote discovery of new insights

5. Give you input, straight feedback and operate as a sounding board

6. Listen carefully to what you say and ask questions that increase awareness

7. Be an on-going resource for you in accomplishing your intentions

 

What else should I know?

Here is a general list:

  • The Certified Financial Coach is about helping individuals become empowered in their relationship with money.  The focus is on helping the individuals see how perceptions of money, wealth and prosperity impact the client’s perspective.  While doing this the coach realizes they themselves are constantly living with their own perspectives and they guard against having these influence their coaching.
  • The Certified Financial Coach helps individuals step back to see the positive and negative consequences of their unconscious judgments on decision-making.
  • The Certified Financial Coach makes it very clear that it is important for you to have base financial literacy skills and during your work with the coach, you will have the opportunity to use programs to gain financial knowledge to understand how what you do has an impact on cash flow longevity.
  • The Certified Financial Coach has access to exclusive tools to help you understand the relationships between financial variables in your current life and help you determine the degree of alignment your current and potential future decisions have with your personal values.
  • The Certified Financial Coach attends rigorous financial coaching skill training including professional coaching core competency training meeting ICF (International Coach Federation) standards.
  • The Certified Financial Coach is grounded and must abide by ethics set up by both the ICF and the CFC-Board of Governors.

 

Investing can be one of the most complicated aspects of your financial life. One of the reasons that investing may seem daunting is because many people don’t know what kind of questions to ask that will help build their confidence and peace of mind. The 20 must-answer questions are specifically designed to help you identify the areas of investing where you can build your confidence as an investor and escape the Investor’s Dilemma.  When you have achieved the ability to answer “yes” to all of these questions, you will be on your way to a high level of investing peace of mind.

 

  1.    Have you discovered your True Purpose for Money, that which is more important than money itself?
  2.     Are you invested in the Market?
  3.     Do you know how markets work?
  4.    Have you defined your Investment Philosophy?
  5.     Have you identified your personal risk tolerance?
  6.    Do you know how to measure diversification in your portfolio?
  7.    Do you consistently and predictably achieve market returns?
  8.     Have you measured the total amount of commissions and costs in your portfolio?
  9.    Do you know where you fall on the Markowitz Efficient Frontier?
  10. When it comes to building your investment portfolio, do you know exactly what you are doing and why?
  11. Are you working with a financial coach versus a financial planner?
  12. Do you have a customized lifelong game plan to guide all of your investing and spending decisions?
  13. Do you have an Investment Policy Statement?
  14. Have you devised a clear-cut method for measuring the success or failure of your portfolio?
  15. Do you fully understand the implications and applications of diversification in your portfolio?
  16. Do you have a system to measure portfolio volatility?
  17. Are you aware of the cost associated with purchasing commission-based products?
  18. Do you know the three warning signs that you may be speculating with your money versus prudently investing it?
  19. Can you identify the cultural messages and personal mind-sets about money that destroy your investing peace of mind?
  20. Are you ready to shift your personal experience of money and investing from a scarcity mode to an abundance mode – where you can live your life rather than obsess about your assets?

 

 

 

 

 

 

 

Contact Information

Garry F. Liday Corp.

15405 SW 116th Ave, Suite 103A
King City, OR 97224
     

Call us today: (503) 620-3531

Email: garryliday@garryliday.com

Retirement Asset Managers Inc.

15405 SW 116th Ave, Suite 103A
King City, OR 97224
     

Call us today: (503) 620-3531

Email: garryliday@garryliday.com

Integrity, Reliability, & Commitment

These three qualities reflect the core of who we are as a company and how we operate. We act with integrity, always keeping your safety and growth as our priority. We are reliable, here to answer your questions, address your concerns, and educate you so that you are confident moving forward with your plan. We carry a commitment to do right by you and remain a steadfast guide throughout your financial journey.

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