Financial Advisor Success Ep 104: How Financial Coaching Skills Enhance The Financial Planner's Value Proposition with Saundra Davis
Dec 25, 2018
In this discussion, Saundra Davis, founder of Sage Financial Solutions, shares her expertise in financial coaching and its impact on client behavior change. She explains how coaching complements traditional financial planning by helping clients discover their motivations. Saundra emphasizes the importance of asking better questions for self-discovery and matching approaches to client needs. She also contrasts financial coaching with life coaching and highlights the significance of experiential training. Her vision is to make competent financial planning accessible to all.
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Planning vs. Coaching: What And Why
- Financial planning covers the what while coaching covers the why and the how to implement it.
- Coaching helps clients own plans and follow through where technical plans alone often fail.
Ask, Then Be Quiet
- Ask powerful questions and then stay silent to invite client self-discovery.
- Use prompts like "Tell me what's important about that" to elicit deeper reasons and insights.
Service As A Continuum
- Treat financial services as a continuum: education, counseling, planning, therapy, and coaching.
- Match your approach to the client's needs rather than forcing one label or method.
