What is Financial Life Coaching?

Financial Life Coaching is forward-looking and vision oriented. A financial coach works with clients who are generally stable financially but want to improve their situation or achieve specific goals. The focus is on dialog, education and behavior change, building financial and wealth skills and accountability. It positions clients as the captain and navigator of their own financial ship.
Financial Life Coaches guide clients in uncovering their purpose and vision, setting life and financial goals, sharpening money habits, creating a wealth action plans, and providing ongoing support to keep them on track. It's primarily educational and empowering in nature—teaching people to make their own informed financial decisions and, where clients are engaging with other advisors, allow them to engage more effectively with them.
Coaching is different than financial counselling which helps you get out of financial trouble, often involving debt and credit management issues. It is also different from traditional financial planning and advisory services, where you provide detailed financial information to an accredited/licensed advisor and they provide you with specific strategy and product recommendations. Financial life coaching can significantly improve conversations and outcomes with financial planners and advisors because clients are starting the journey with better knowledge about the process and key planning and product elements.