Here's what a financial coach does, and why they may be the best option for those looking to manage their own money
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- Although their titles sound similar, financial planners and financial coaches play different roles in helping clients make informed decisions about their money, says Financial Coach Katie Oelker.
- Financial coaches help their clients take control of their finances based on their current situations and goals.
- Financial planners, on the other hand, take an investment route that may not always be beneficial depending on the financial circumstances.
- This article is a contributed piece as part of a series called Master your Money.
Most individuals have heard of financial planners, but few have heard of financial coaches. Understandably so, as financial coaching is a newer industry that is mostly unregulated at this point. That being said, there are huge advantages to working with financial coaches, but it's important to understand who they serve and when to utilize their expertise versus working with a financial planner.
Financial planners
Meeting with a financial planner can be completely overwhelming for a lot of individuals. Many are embarrassed to open up about their situation, especially if they struggle with debt or are living paycheck-to-paycheck. See the rest of the story at Business Insider
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