Financial Coaching With Glenn FAQs

I'm sure you've got questions so click on on the links below for answers to the questions I am commonly asked. Please contact me if you'd like to know more, or want to talk about whether financial coaching is right for you.

• What is financial coaching?
• How does it work?
• What are the benefits of financial coaching?
• How much does financial coaching cost?
• What will happen during a coaching session?
• Is there any homework between coachingsessions?
• Isn't financial coaching just another name for financial advice?
• What is generic financial advice?

Q What is financial coaching?

A Being good with money is just another form of fitness. Just as with losing weight or getting physically fit, it takes the same sort of commitment to get on top of your finances and remain motivated so that you reach your goals.

Glenn uses proven coaching techniques and technical expertise to help you identify and understand your financial goals, and put in place realistic and measurable strategies to meet them.

People seek financial coaching for many different reasons. Some require information and only minimal guidance. For instance, you may simply want to discuss whether the plans you have in place are sufficient to meet your future goals.

Others may want considerable support facing up to financial difficulties, which often involves examining the emotions surrounding their relationship with money. For example, you might want to tackle a long-term issue, such as out-of-control spending habits.

Q How does it work?

A I will support you in making decisions and initiating any changes, usually through a series of regular meetings. Our work is in total confidence - and the coaching sessions provides you with a safe placefor you to acknowledge and face your money concerns.

The added beauty of our service is that we also offer coaching and support by phone and email, so you'll be able to gain the benefits wherever you live.

Glenn will conduct an initial phone consultation to collect some basic information, which will enable him to decide, together, whether financial coaching is right for you.

Q What are the benefits of financial coaching?

A Many clients find that simply picking up the phone and booking their first coaching session reduces their stress levels. It's worrying to be in debt, or to feel out of control with your spending. And it's annoying to suspect that you could be doing things more cheaply, if only you understood the ins and outs of different financial products and had the time and the expertise to find the best arrangements.

With Glenn on hand to look out for you and your money, the benefits of financial coaching quickly become obvious.

Q How much does financial coaching cost?

A We charge for our time at the rate of$125.00 per 45 minute session. And the service is completely flexible, so you can choose whether you would like a single consultation, help with a one-off project that may require several sessions, or regular on-going coaching. To help you budget for our services you can choose from one of our retainer packages or simply pay by the hour.

Q What will happen during a coaching session?

A The first coaching session can often last up to two hours, and we prefer to conduct this meeting face-to-face. We can conduct subsequent meetings in the same way, although we find that coaching is just as effective by phone if that suits your circumstances.

During the first meeting we'll talk through your financial situation, identify what you hope to achieve from the coaching, and start working towards meeting these goals.

Some clients find that a single session is all they need, while others prefer to book a series of meetings - for instance an hour a month, for several months. While this type of arrangement often helps the coaching process, there is no financial commitment - you only pay for the coaching you receive.

Q Is there any homework between coaching sessions?

A At the end of each session we'll summarise the action points from the meeting and agree what needs to be done by the next meeting. This may involve gathering information from financial companies or completing a spending plan worksheet. While we work at a pace that suits you, we also work with your goals in mind. We find that the coaching process works best if you can complete any action points before the next meeting.

Q Isn't financial coaching just another name for financial advice?

A No, there are important differences.Financial advisers provide financial advice - they are regulated by the Financial Services Board and are bound by its rules. The main function of an adviser is to select and sell products to match your individual needs.

Our role is to make sure that you are fully informed about your financial issues, giving you the control and motivation to make better choices about what to do with your money.

Unlike financial advisers we won’t provide you with specific advice on the purchase or sale of regulated financial products such as pensions, investments, insurance or mortgages. We do, however, offer generic financial advice such as guiding you through the options available to finance your retirement.

However, if you ask us to recommend a specific product, we can. We'll also explain how the product works and show you the best way to buy it.

Many clients use financial coaching as an affordable alternative to financial advice; others use financial coaching to complement the service provided by their financial adviser or investment manager. Following our initial consultation we will be able to decide whether a financial adviser would be better suited to your needs.

Q What is generic financial advice?

A  The  working definition of generic advice is:

'Services and tools that use information about individuals' circumstances to help them to identify and understand their financial needs, and to plan their finances. Generic advice helps consumers to identify:

1. Choices and possible priorities for action which are appropriate to their needs;
2. How to take the next steps in addressing their priorities; and
3. How to access other sources of relevant information and advice.'