A financial wealth coach is someone who helps people achieve their financial goals. They offer unbiased advice and do not sell specific products or wealth generation tools. Instead, they act as a mentor, teacher, and cheerleader that helps people find ways to solve their financial problems and helps them overcome negative or incorrect mindsets that are preventing them from achieving their goals and help them to move forward in a positive way.
It is important that the coach offer unbiased advice. Traditional financial advisers are generally focused on selling investment products (for which they receive a commission) rather than focusing on the person they are advising and their needs. This creates conflicts of interest and a ‘one-size-fits-all’ approach to investment and wealth creation. A wealth coach will tailor a solution specific to the person they are advising and will have nothing to gain from the approach taken – instead they support their clients no matter how they approach wealth creation.