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Financial Coach Training in Toronto Focuses on Service Over Sales

Thinking of pursuing financial coach training in Toronto? In these days of job and lifestyle stress, lots of individuals and families need the unbiased advice of a professional who can hone in on financial planning goals. But it’s more than looking at someone’s cash flow. A financial coach is also a money therapist, helping to unlock and correct issues and behaviors a client often has when it comes to spending and saving.

The Difference Is the Bottom Line

So what is the difference between a Financial Coach and, say, a Financial Advisor? While both would take an in-depth look at a client’s overall financial picture and spend time ascertaining the client’s goals and objectives, there is a fundamental distinction. WHO does the Financial Advisor or the Financial Coach work for?
A Financial Advisor usually works for a financial institution, such as a bank, promoting financial services, be it investments, insurance, or mortgages. The bank’s products – such as GICs, mutual funds, RRSPs – are offered. Ultimately, the Financial Advisor is a salesperson. And like a salesperson, a Financial Advisor is paid a commission, flat fee or a mix of both from the financial institution offering that financial or insurance product. The Financial Advisor, therefore, is not necessarily providing an objective service to the client, as he/she is obligated to represent the institution’s best interests.
A Financial Coach doesn’t work for the client; A Financial Coach works with the client. So if there is someone a Financial Coach is committed to, it is the client. A Financial Coach does not sell a financial product. Rather, working fee-based and impartially, a Financial Coach helps clients invest in themselves at whatever life stage or age. The services of a Financial Coach aren’t limited to resolving financial setbacks, but also to fostering successes. A Financial Coach will help a client focus on goal setting and cash flow planning in order to help the client realize targets such as paying off debt in record time, improving a credit rating and building on savings. A Financial Coach is essentially a money coach.

Training and Certification

Comprehensive financial coach training from a reputable institution is first and foremost and will take you through:
  • Fundamentals of financial coaching
  • Cash flow analysis and debt management
  • Personalizing a financial action plan for a client
  • Administrative systems to set up a financial coaching business, such as a Money Coach software platform
Receiving certification as a financial coach is an optional step, but one that potential clients will appreciate, as it attests that additional training and a higher level of learning and knowledge have been achieved. On the job mentorships with established financial coaches as well as web seminar and teleconference training provide extra hands-on experience and know-how.

Help Is On Its Way

Professional athletes and sports teams have coaches; so do singers and actors. They want to do better. So why not too a "financial coach” for everyday consumers and families? In these uncertain economic times, people are coming to realize that banks are ultimately in service to their shareholders and bottom line – and not their customers. Financial Coach training in Toronto is a way to help people better connect with their money and improve their lives.