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WHAT ARE THE DIFFERENCES BETWEEN A FINANCIAL ADVISOR AND A FINANCIAL COACH?

Afinancial advisoris a professional who helps to manage the economy of a person or company by performing an exhaustive analysis of their income, assets and also needs taking into account past, present and future moments. A financial advisor will help you discover both financial needs and opportunities.

 

On the other hand, coaching is a dynamic and interactive process, in which a person, the coach, assists and accompanies another individual or legal entity in the achievement of its objectives and goals, through the development of the maximum potential of the person to reach them.

 

The coach’s mission will be to improve the relationship that individuals and companies have with money. During the process, coaching tools will be used to guide you to achieve an economic goal. A financial coach will detect the problem that is preventing you from growing financiallyas a company and will also accompany you throughout the process..

 

In short, it will help you plan your economy or that of your business until you achieve the financial goals you have set for yourself. It acts as a guide that will motivate you to change bad habits by saving and investing.

What are the differences between one professional and another?

  • A financial advisor focuses on the implementation of financial products and strategies.
  • A financial coach focuses on the most basic aspects of daily money management, accounts and expenses and the financial behavior of the individual or legal entity.
  • A financial advisor will help you manage the wealth you already have.
  • A coach will provide you with tools, knowledge and skills so that you can continue to build your wealth.
  • A financial coach does not manage investments nor do they have links to products, they do not advise or counsel on what or where to invest.
  • A financial advisor will help you make decisions that will help you grow financially and professionally as well as prevent you from making a hasty decision that could lead your company to ruin.