Do you need a Financial Coach or a Financial Advisor ?

A Financial Coach helps you create a plan for your future that allows you to live your best possible life without squandering your newfound wealth. Coaching provides you the opportunity to reflect and get clear about what's really important to you as you make decisions about things like whether or not to continue working, whether to move or where and how much money to gift away. Jayn either teaches her clients the skills needed to manage their newly acquired wealth or she manages the client's money for them. These services range from bill paying, checkbook balancing and cash flow management to periodic meetings with accountants and financial advisors to simply helping you find the right financial advisor and guiding you through the financial planning process.

A Financial Advisor's job is more "big picture," analyzing your financial data, making recommendations about investment and insurance needs and assisting you in purchasing financial products. They can also help you to quantify financial goals by doing complex calculations and projections. It is very likely that a relationship with a Financial Advisor will be beneficial. Although many Financial Advisors claim that they will help you identify your life goals, this is not their strength. Ideally, if one were to work with a Financial Coach first to tidy up their financial data, create their life vision and change their behavior around their money, they would be much better prepared to work with their Financial Advisor to implement an investment and insurance strategy that has real meaning for them. Without clear direction from the client, Financial Advisors must take a "default" approach, planning for what they believe is best rather than planning for a goal that the client has given great thought and consideration to.

Although there are some exceptions, most Financial Advisors are paid by commissions they earn on financial products the client purchases, creating an inherent conflict of interest. Conversely, Financial Coaches are paid hourly for their time, with no vested interest in the client's financial assets. Therefore, a Financial Coach serves as a valuable intermediary between the client and the Financial Advisor, providing an educated shoulder for the client to lean on when making huge financial decisions. The best possible scenario is where the Client, Financial Coach and Financial Advisor become a team dedicated to financial success that is grounded in the client's highest life purpose