No products, no intermediation and just £85 per hour. Has Simonne Gnessen, founder of Wise Monkey Financial Coaching, found a profitable way for IFAs to cater for the mass market? Rahul Odedra investigates...
After a decade as an IFA, Simonne Gnessen stripped away the products and intermediation (including the regulatory burdens) to help clients plan their futures and control their money. Now, having been a finance coach since 2002, she is looking to spread the word and believes advisers themselves could offer what she does, helping clients at a fraction of the cost of full-blown advice. So what exactly does a finance coach do? In her own words, it is about “supporting people with their finances and helping them congruently move towards their goals”. She adds: “It is also about helping the...
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