What is the difference between a financial coach and a financial advisor?

Financial Coach

• Focus on the here and now, short-term planning.

• Help manage current cash flow and get ahold of spending.

• Budget and debt management.

• Many teach skills, habits, and behaviors revolving around money.

• Typically charges an hourly rate or package options.

Financial Advisor

• Focus on future and long-term planning.

• Manage investment portfolios including stocks, bonds, and mutual funds.

• Many offer protective insurance options, including life insurance, disability income insurance, and long-term care coverage.

• Many require an ongoing fee for example a percentage of your assets under their management.