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Coaching vs. Planning

Financial coaching focuses on the person vs. the portfolio. Anyone who has seen the movie The Horse Whisperer may recall the scene where Robert Redford answers the phone and the caller says “I understand you work with people with horse problems”, and his reply is “No ma’am I work with horses with people problems.” As investor coaches we help fix portfolios with people problems. We understand that if you know the right things about investing, you don’t need to know everything.

Coaching is rooted in the belief that people have financial goals but often struggle to attain those goals. A financial coach recognizes that failing to reach those goals is a behavior problem, but until you change the behavior you are reaching for the impossible. We’ve all heard the saying “Repeating the same thing over and over and expecting different results is the definition of insanity”. Human behavior leans toward procrastination and allows emotions to run wild, which in turn causes a very short sighted view. Success requires long term discipline brought about by coaching.

Coaches provide ongoing education, support, encouragement, and yes, even occasional tough love. Coaching holds clients accountable and removes as much emotion as humanly possible from the financial process. It develops a defined and disciplined approach to the goal of abundance. As educators we not only teach the truth about successful investing, but also provide the discipline to maximize your expected results.

Ask someone their philosophy on religion or politics and they are very quick and clear on exactly where they stand, but if you ask the same question about their financial philosophy it is usually random and very vague. As a coach I know clearly what my philosophy is and the rules on practicing that philosophy. We know the rules for losing weight are eat less and exercise more, that’s the easy part. It’s following those rules and the discipline necessary to stay the course that is hard. My role as your coach is to make you aware of the rules of investing and educate you as to why they are essential to succeed. My goal as your coach is to make the hard part as easy as possible.

To know if you are currently working with a financial coach vs. a financial advisor, please go to the link marked Investor Quiz and answer the 10 Must Answer Questions. If you cannot give a clear and definite yes, the answer must be no.

Investor Quiz.

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