Chris Budd: When to advise and when to coach

In one of the training sessions of the Financial Wellbeing Certificate, we look at behavioural biases and self-limiting beliefs. We present a case study that looks at how far a financial adviser should go when delving into such issues. It raises one particularly interesting question of what an adviser should do when they identify that the client has a belief that is leading to poor outcomes. In addressing this we can also see where financial advice might stop and financial coaching might start. Permit me to give you a simple example. Let us take a client who declares that they a...