A financial coach is an advisor who can help with budgeting and saving, but not with investment decisions. A financial coach also teaches money management skills to help clients reach financial goals. This could include building savings, creating a financial plan or paying down debt.
While financial coaches typically can’t give investment advice, they can help with the behavioral and emotional components of managing money so you can create a healthier attitude that leads to better money habits.
What does a financial coach do?
Financial coaches typically meet with their clients on an ongoing basis depending on the goal. A financial coach can help you:
- Understand your spending habits.
- Create a budget.
- Outline a financial plan.
- Understand the emotional components of dealing with money.
- Learn how to establish an emergency fund.
- Manage debt.
Financial coaches don’t pick stocks or help with investment recommendations. If that's what you need, it may be best to find a financial advisor.
Before entering into a relationship with a financial coach, identify what parts of your financial life you would like assistance with. For example, if you struggle with spending, you can work with your coach to identify patterns and areas of improvement.
» Want to learn more? Here's how to choose a financial advisor
How do I find a financial coach?
There are no certifications, licenses or required coursework to become a financial coach.
Many programs offer training to people who want to become financial coaches. One place to start could be the Association for Financial Counseling and Planning Education (AFCPE). If you’re looking for a financial counselor or coach, AFCPE’s Accredited Financial Counselor or Sage Financial Solutions’ Accredited Personal Financial Coach designation can ensure you work with an experienced and certified individual.
How much does a financial coach cost?
Financial coaches typically work on a fee-only basis. These fees can be based on how long you plan to work with them (a set fee for six months, for example), a percentage of individual income or a fee per session.
There’s a wide range of fees. Some can range in the thousands annually, others up to $600 per hour. Because of this, it’s important to ask about costs upfront.
🤓Nerdy Tip
Financial coaches do not usually directly manage investments, so their fees usually aren't based on assets under management (which is a common fee model among financial advisors, however).» MORE: How much financial advisors cost
What’s the difference between a financial advisor and a financial coach?
The main difference between a financial advisor and a financial coach is the level of advice provided. Financial coaches rarely give investment advice. If they do, they must be registered with the SEC or the state as an investment advisor. In terms of background and services, coaches don’t have mandatory training or certifications, and they do not need to have a fiduciary duty to clients.
Once you master the topics a coach can help you with, a financial advisor can help you create a financial plan or build an investment portfolio to manage those assets.
» Want to know more? Read about the different types of financial advisors
How do I become a financial coach?
1. Get certified
While you do not need to complete any coursework or earn a license or certification to call yourself a financial coach, you should have a solid and extensive financial education before you start teaching others. Earning a financial coaching designation can give you foundational knowledge.
2. Leverage your personal experience
Financial coaches can specialize in niche areas. Some work specifically with immigrants, the LGBTQ+ community or people of certain ages, for example. Financial coaches can also utilize the tools of a financial therapist to help people with negative emotions around money. Think about what you can offer people as a coach and what makes your product special.
3. Market yourself
Financial expertise doesn't hide behind large desks and mahogany paneling anymore. If you're starting out as a financial coach, leverage social media to help build your platform. A website can also spell out how you can help people with their money.
4. Figure out what to charge
A financial coach’s salary depends on their fees, how many clients they serve and whether or not they run their own practice or work for an existing firm. If you're wondering whether earning a certification is worth it, focus your research on what coaches in your area and field of expertise are charging.
Is hiring a financial coach worth it?
Like most other financial decisions, it really depends on your individual circumstances. If you feel that your relationship with money needs repair – and you want outside help to stay accountable – a financial coach can be a resource.
If you're on the fence, or prefer a DIY approach, there are also plenty of resources that offer free or affordable financial advice.
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- 1.Kitces. When Does A Financial Coach Need To Register As An Investment Adviser? The “ABCS” Test To Determine Status. Accessed Apr 3, 2026.
