Financial Coaches vs. Financial Advisors

Financial advisor vs Financial coaches. Do you know the difference ? According to Money track, a financial advisor is “a professional who renders financial services to individuals,” on the other hand financial coaching is “a future-focused practice with the aim of helping clients determine and achieve personal goals.” While the financial advisor works with the wealth you have already accumulated a financial coach helps you build that wealth from the start. Money track provided a wonderful example of the difference between the two by asking “Would you rather go to a greenhouse and buy a plant?  Or go to a greenhouse, buy the seeds, learn how to nurture them and watch them grow? “. For this reason seeking and utilizing reputable financial coaches is a very good idea and its at the reach of anyone. They might sound the same but are in fact different. If you want to learn more information about the differences click here. In NYC there are groups like Neighborhood Housing Services of NYC (NHSNYC)  that offer financial coaching. To get the official list of organizations that are offering financial coaches please click here and it will take you to NYC government website.

5 Comments

    1. Yea, a lot of them are run by reputable nonprofit organizations like Neighborhood Housing Services (NHS), Neighborhood Trust and The Financial Clinic.

    1. Thank you for reading it. Here in the U.S for the most part non profits do not make clients pay for the services and if they do its minimal. I think that when people think of financial coaches they make a mistake in thinking that its only for people who are in terrible situations.

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