Saundra Davis believes that financial coaching skills and financial planning go hand in hand. As a financial planner, you may be completely confident in the guidance you give to clients - but feel frustrated and lost time and again when they fail to follow your advice. This, according to Saundra, is where coaching comes in.
Coaching clients through financial decisions can inspire them to take action and pursue the financial life they desire. Evaluating how clients make decisions, and what could potentially stand in their way from making financial choices that serve them, can help financial planners to have a larger impact on the lives of their clients - and extend their impact for generations to come.
This conversation with Saundra will absolutely move you. As financial planners, we often focus on how we want to serve younger generations that often don’t fit the mold of “ideal client” for larger, established firms. Saundra’s take on financial coaching will inspire you to serve your existing clients better, extend yourself to be able to serve everyone, and grow the financial planning practice you’ve always dreamed about.
What You’ll Learn:
- Core financial coaching elements, such as how to get clear about what a client wants, the gap between what they want and where they are, and how to create a financial plan that can help them achieve their goals, regardless of their income or wealth
- The importance of how we view our clients and the consequences if we don’t view them correctly
- How financial coaching intersects with financial planning (hint: if you want to be a better financial planner, financial coaching skills are critical)
- How to serve low income individuals through financial coaching in a way that focuses on asset building
- How financial coaching connects us as financial planners to our deeper fiduciary duty
- Where to “plug in” to conversations about financial coaching within the financial planning profession
- The importance of bringing financial expertise to financial coaching
- How to start coaching-based financial planning conversations with clients
- How the financial planning profession can move forward into serving demographics that aren’t currently being served
- How coaching can help you guide your clients to live the life they want
- Motivation and inspiration - knowing what you provide and what the client provides
- The power of motivational interviewing and how you can improve your client skill set