I am an Advisor and a Life Coach (and What a Powerful Combination)
Advisor Perspectives welcomes guest contributions. The views presented here do not necessarily represent those of Advisor Perspectives.
Life coaching is a valuable skill that will help advisors enable their clients to achieve goals beyond financial security. I know this because I have had clients thank me for giving them the opportunity to express themselves in a way no one has before.
I was motivated to write this in response to Dan Solin’s article, You’re Not a Life Coach (So Don’t Try To Be One), and to make the distinction between true life coaching and what is offered by Tony Robbins and other “self-help gurus.”
The financial services world is changing quickly and that it will become increasingly important for advisors to not only differentiate themselves but justify their fees. One powerful way to do that is to expand from being a trusted advisor to a coaching relationship with clients. For those advisors who take this role adeptly and get proper training, it is an incredibly rewarding experience and brings client service to an entirely new level.
On the most basic level, life coaching is about listening deeply to your clients, providing a safe space for them to express themselves fully, challenging assumptions and being an accountable partner. Through these skills, a good coach clarifies their clients’ values and visions, and help them to move forward towards greater fulfillment in other areas of their lives. A coach who is also a trained financial advisor has the added ability to put the client’s values and vision in the context of a financial plan.