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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Invest In Coaching Competence
- Invest in ongoing professional development and practice coaching skills to become comfortable with uncertainty.
- Put expertise on the back burner when coaching and focus on being curious, not fixing.
Learn Then Practice Coaching
- Start with accessible books like The Coaching Habit and Motivational Interviewing to learn basics.
- Then practice skills in experiential settings; theory alone won't make you a coach.
Use Finance-Specific Coaching Training
- Avoid pure life-coach training alone for financial topics because some financial answers can be objectively wrong.
- Choose coach training tailored to financial content and combine it with financial knowledge prerequisites.
