How can you use online coaching to provide financial advice?

To effectively leverage online coaching for financial advice, it is imperative to establish expertise in a specific financial domain. Building a robust professional network is equally crucial, enabling not only the provision of personalized coaching but also facilitating client access to this network for accelerated growth. This approach adds substantial value, differentiating oneself within the competitive landscape, fostering client satisfaction, and concurrently expanding one's professional connections.

For coaching, you need to narrow down not only who you will serve, but also what you will serve them. To get started with this crucial first step, here are some questions to ask yourself to help pick a niche: - What is it that your younger self would have wanted coaching on, that you have overcome? - What change are you passionate about bringing into the world or people's lives? - Who are these people that you can serve the best right now? - Where will you usually find these people? What's the best way to understand the topics they want the most support on? These questions are a good start to bring to the table your passion and a real need that exists in the world that you can uniquely help fill. That's your first niche!

To my best knowledge, there are two ways to go about it: -Begin by conducting thorough assessments of your clients' financial situations, goals, risk tolerance, and knowledge. This can be done through online questionnaires or initial video consultations to gather the necessary information. -Based on the assessments, develop personalized financial plans that align with your clients' objectives. This may involve budgeting, savings strategies, investment recommendations, debt management, retirement planning, or other relevant aspects. - Offer educational resources such as articles, videos, or interactive tools to help clients deepen their understanding of financial concepts and best practices. you can share via your coaching platform or email.

Choosing a niche is crucial because it would establish you as a specialist in that domain. It would enable you to segregate and identify your target market that come within your niche. You would be able to align your expertise and offer advice in alignment to the goals, challenges and needs of this target group.

Absolutely, this is a must. Setting up your platform requires choosing amongst options that work best for your content. Google Meet and Zoom are great for conducting online meetings and one-on-one sharing. To create a smooth experience for the client one needs to find a platform that works well for the student with the least technical glitches.

While developing the content the needs of the audience has to be kept in mind. The audience is more involved when they find relevance. Next you need to focus on the format to share the content - it needs to be engaging and able to capture the attention of the audience and at the same time they should find it meaningful

Funnel your approach into three flows:- 1. Health - Things that matter to you physically 2. Wealth - Things that cost financially 3. Stealth - Things we cannot see, but feel Yet you should always remain articulately curious to lift the bonnet on why people are seeking financial change. What is driving their decision making and what type of emotions are they are feeling, if they do not make it financially. We can all visualise when we make decisions, but can we visualise if we do not make any decisions.

How can you use online coaching to provide financial advice? The key to effective coaching in my experience is to ask questions as a way to help your client discover their own thoughts and insights. To specifically say, "I think you should do xyz with your finances." moves you from being a coach to a consultant. Questions such as "What is your timeframe for needing your money?" "What is your aversion to risk?" "How would you feel if your investment lost 10%/ 2 5% / 45% in a week?" help your client understand what options best fit their unique situation.

Here are some of the benefits of online coaching for financial advice: Reach a wider audience: Online coaching allows you to reach clients all over the world, regardless of their location. This can help you to expand your business and reach a larger audience than you could with traditional in-person coaching. Offer more flexibility: Online coaching can be more flexible than traditional in-person coaching. Clients can access your services at their own convenience, and you can schedule sessions around your own availability.

Coaching precludes advice by definition! This article is confusing and based on the wrong premise to begin with. If you’re a coach, the first step is to understand is that you’re not there to dispense advise, whether financial or otherwise. If you’re a financial advisor, then make sure you have the qualifications and the jurisdictional certifications.