Why You Need A Financial Coach

Many people do not want to admit they don't know the basic principles of Financial Management, however when was the last time you performed surgery or fixed your own plumbing? Some are afraid to face their financial truth and even equate financial worth with self-worth. Some may feel not only fear of their current financial position, but feel hopeless about prospects for the future. Will people still like me if they knew the truth? Will they trust me? Respect me?

Money can bring great happiness and freedom to our life or it can foster huge fears and anxieties. Although money touches every aspect of our daily lives, it is really only a means to help us achieve our goals.

If you are not where you want to be financially, it does not mean you have done something wrong, it only means, that like many, you were not given the proper skills. Financial intelligence is a learned skill and you need to be willing to learn and have the right coach. Imagine being able to approach your finances with a sense of optimism and clarity instead of dread.

An effective Financial Coach will:
• Be your partner and help you see your options for action with clarity and creativity.
• Offer guidance and encouragement as you explore and examine your life goals and beliefs about money.
• Support you and bring confidence to your financial decisions.
• Be your partner and give you the financial tools to help you to create the life that you've always dreamed of.
• Be someone you identify with, that understands you are a person with hopes, dreams, and fears rather than just another client who has money to invest.
• Be realistic, accountable and honest about what you can achieve.
• Be accessible and value any question you ask, treating you with respect.
• Shares wisdom and insight based on personal experience.
• Work with you help you succeed on an on-going annual basis.
• Save you time and money by helping you avoid the dangers on your road to financial freedom.

Financial Coaching is not passive, but an interactive, dynamic, learning experience tailored to your specific needs. If you are looking for the latest "get-rich-quick" scheme, you will not find this with a Financial Coach. The process is not just about making more money, it is about true wealth, which involves happiness, family and life goals.

So how do you choose a Financial Coach? Searching through the Yellow Pages or Google won't do much good when it comes to finding the right Financial Coach for you. You will find varying titles such as investment advisor, financial planner and financial consultant and they are used interchangeably as advisers try to fill a broader range of needs.

The first step to finding the right Financial Coach for you, is to figure out what kind of help you need. What sort of relationship are looking for with a financial professional? Do you need someone to be there by your side as you confront life's major milestones or to simply take a snapshot of your family finances and let you know whether you're on track.

The best way to find a Financial Professional is through word of mouth. However do not stop at one glowing recommendation, it is better to get the names of at least five people.

The individuals should have the Certified Financial Planner (CFP) certification at a minimum, as it means they have passed exams administered by the Financial Planners Standards Council | FPSC , studied a broad range of financial planning areas and maintain continuing-education requirements and credits in ethics courses.

Although the industry attempts to regulate individuals, anyone can call themselves a Financial Professional, so do your due diligence. Check with professional organizations to make sure they are in good standing. The Financial Planners Standards Council | FPSC, which administers the CFP designation in Canada, has a website providing names of legitimate Financial Professionals as well information about their backgrounds, education, experience, and areas of expertise. You can also download a checklist of questions to ask.

Meet with your top choices and ask lots of questions. This will help you determine who you most deeply connect with on a personal level. Another important matter to discuss is compensation. You may find someone who charges a fee for thier time or requires you to have a minimum-account size. There's no right or wrong way for a Financial Professional to get paid, just make sure you understand the method of compensation used.

Financial Coaching is a joint, educational relationship that will help you achieve financial freedom. Whatever your stage of personal financial well being, it is your responsibility. Take charge of your financial future, you are deserving of financial success.

Heather Holjevac, BComm, CFP, CDFA
Wealth Coach 4U
Financial Planner and Wealth Coach
Cell: (416) 527-2553, Toll-Free: 1-877-341-8687
http://www.wealthcoach4u.com
"Committed to Your Financial Success"