Chris Budd: When to advise and when to coach

Client behaviours

clock • 3 min read

In his latest column on financial wellbeing for Professional Adviser, Chris Budd takes a look at the appropriate times to deploy financial coaching, or indeed a financial 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...

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