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MoneyCoachShags

It's more than asking questions -- it's also knowing how to "hold the space" and manage the energy in the room when sensitive and emotional questions/issues arise. But this is not an easy thing for most financial advisors, as I discovered during my two decades of practice.

I'm blessed to have discovered Deborah Price and her work at the Money Coaching Institute. Having gone through the experience of being "money coached" I discovered that even though I knew a great deal about the practical side, my personal work needed to focus on the emotional, behavioral, and spiritual/connectedness I had with my money life. Three years later I am in a much better place, and I have developed the skills to help my clients do the same.

For those readers interested in learning more about our Money Coaching process, please visit us at http://www.MoneyCoachingInstitute.com. We soon will introduce our new on-line course: "Money Coaching Core Process" which was recently approved for 8...(Read more of this comment) hours of CEU credit by the CFP Board, AFCPE, and ICF - Int'l Coach Federation. Those who successfully complete the course will have a better understanding of a process which gently and compassionately helps the client recognize and shift unconscious beliefs and patterns which keep them from having a healthy and satisfying relationship with money.

The resulting "financial triage" may result in an extended financial- or life-planning engagement with the client for financial professionals, as well as referrals to and from aligned professionals who have skill sets needed in guiding the client through the next steps for which the financial professional is not trained nor qualified, such as therapists, counselors and coaches. The benefits to the client are immeasurable as they become fully aware and conscious, enabling them to move forward with clarity, confidence, and conviction.

Steven "Shags" Shagrin
Vice President
The Money Coaching Institute

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rickkahler

Emotional intelligence is a manditory skill for a 21st century financial planner. Even thought the CFP designation doesn't require coaching competency skills today, the time will come (if the designation is going to maintain its status) that it will be one of the components. More and more under graduate and graduate financial planning programs are requiring some type of interpersonal communications training. Thanks for the well written article.

RobertLaura

In the recent past, easy access to money and credit limited the mental or psychological impact money had on people's lives. The keeping up with the Joneses era didn't require a formal process for making financial decisions. However, now that consumers are being held accountable for their past its causing paralysis in many Americans who have no idea on how to begin getting themselves out of their old ways, mindset, and destructive financial behaviors.

The mental stress and anxiety associated with this change is overwhelming and foreign to many households who delayed this inevitable pain through credit cards transfers and home equity loans. Instead of traditional financial planning and investment advice, more and more people are in desperate need of support and guidance for the tough situations they're in and the difficult decisions they need to make.

Advisors who can't adjust and integrate aspects of counseling or coaching into their practice and help clients...(Read more of this comment) integrate what's important to them into their financial life will end up on the outside looking in at a rapidly adapting field (and essential skill set).

It's why we created the software mentioned above, www.myfinancialreflection.com It's a tool for advisors to build a presence in this area and offer these types of services.

Robert Laura
myfinancialrefletion.com
248.890.0834
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