What is a Financial Coach?

Most investors have never heard of a Financial Coach.

How is that different from a traditional financial planner or financial advisor you ask?

Let us explain….

The traditional financial planning model is out dated and has become a source for many problems when people begin seeking investment advice.  People have become accustomed to seeking out a financial planner to assist them with their financial affairs but what they don’t realize is that many planners aren’t always offering financial advice solely for the benefit of their client.  For starters, financial planning or the development of a financial plan is very often used as a sales or marketing tool to sell a firm’s financial products, granted many of these products can become valuable investments, but still the sale of these financial products produces a commission to the financial planner based on their recommendations and the overall financial plan.  The individual investor rarely knows whether or not the plan’s recommendations are in their best interest or in the best interest of the planner and his/her firm.  In some cases financial planners work for a brokerage firm or insurance company, and therefore they don’t really work directly and solely for their client, they may only be able to offer limited investment choices based on the products the financial planner’s company actually controls.

Traditional financial planning does very little to educate individual investors and help them deal with emotions they may have from previous poor investment experiences.  Individuals seeking out financial advice should seek out to learn about the markets and how investments work in order to have true peace of mind when it comes to their investments.

Financial Coaching is a service offered to clients to educate them on the markets, retirement savings, investment choices and an overall understanding of investing for financial growth and security.  Financial coaches do not work for firms or insurance companies they work for their clients and therefore their success is based on the satisfaction from their clients.  Financial coaches teach investors the proper way to invest, they allow their clients design and build their own financial portfolios based on their individual financial goals and investment choices.  Peace of mind comes from being educated on how your investments work and knowing that your financial coach is there to support you and guide you through your investment planning.

So what is the difference between Financial Planning vs. Financial Coaching?

A Financial Coach will answer all your questions, will provide you with investment choices, educate you on how the investment markets work and most importantly will work solely in the best interest of the client in order to coach them into making wise investment choices to build a successful investment portfolio based on their financial goals.  On the other hand, Financial Planners, will not be interested in educating their clients or answering detailed questions about other investment choices but rather simply sell clients on the investment products offered by their company.

So which would you choose?   If you aren’t getting the answers to your investment questions and don’t feel your current financial investment portfolio was designed for you then it might be time to find someone who is a Financial Coach!

What Is Coaching & Why Do I Do It?

A financial coach is one who instructs trains or prompts. A teacher, tutor, advisor, guide, mentor and counselor.

Here at Garry F. Liday Corporation, I consider being a financial coach a calling, not a job. I do client events on a regular basis, 6 per year. I do Investor Inventories, I create transformations, not transactions. I conduct bi-monthly client education classes for my clients and their guests. I give client’s access to Matson Money “Annual Client Investor Symposiums”. I meet prospects where they are; in public seminars or in my office. My charges are lower than commissions, and are tax deductible. I send clients with $500K+ a quarterly portfolio update. I send clients a weekly blog and a weekly newsletter. I have an active website with a variety of information available to clients. I meet annually with every client for a one on one personal progress review. I return all phone calls within 24 hours or less. Most importantly, I am passionate about helping my clients reach financial peace of mind through educating, coaching and keeping them calm when there is global chaos and confusion all around them.