Coaching Vs Planning
A Coach’s job is to elevate performance.
We help coach people to discover what it means to be an investor, and how their brain works around investing. This involves creating a powerful purpose for your money and your family, and then being prudent and disciplined over a lifetime. We have a fiduciary duty to our clients. By law we are required to put the clients’ best interest first.
What Coaching is Not
Coaching is not traditional financial planning. First, we believe the traditional model of financial planning is broken. Why is that the case when it seems logical to hire a financial planner to escape our financial difficulties? The problem lies in how the planning is carried out. Financial planning is largely product-driven which generates commissions for a broker/dealer or insurance company. By default, this creates a conflict of interest between the salesperson and the investor. The salesperson needs to continually generate sales in order to support their livelihood, and the brokerage firm controls what products can be recommended. The majority of financial planners operate under “suitability standards” where they are not required by law to put the clients’ best interest above all else.
Second, the traditional planning process does little to educate investors about their own instincts and emotions that are at the root of the poor investment returns they experience. How can you tell if your advisor is helping with these problems? Simply take the “Investor Quiz” on the website. We believe knowing the answers to these questions is the key to having true peace of mind in an uncertain world.