Because the coaching industry is so new, it’s no surprise that most people assume they need a financial advisor, instead of a financial coach.
I’ve been a financial coach since 2015 and many people have called me a financial advisor (which I’m not) and sought services outside of my wheelhouse.
That’s why I’m so excited to have financial advisor Grace Kilgore on the show today.
Grace and I are going to talk about the differences between a financial coach and a financial advisor, so whoever’s listening can understand the difference and seek out the right financial support.
When you’re looking to establish your financial foundation – create a budget, pay off debt, build an emergency fund and improve your money mindset, a financial coach is what you need.
When you have a solid financial foundation and you’re ready to build wealth – through investment vehicles like the stock market, life insurance and more, you’re ready to work with a financial advisor.
My goal as a finance coach is to get my clients established and ready to work with a financial advisor. They have laid the foundation for financial consistency and now they’re ready to capitalize.
In addition to educating listeners on the differences of financial coaching versus advising, Grace shares what it’s like to work as a woman in the male-dominated finance industry, what qualifiers she looks for before taking on new clients, and how she manages work, family and home life.
Here’s a glance at this episode:
- [02:31] Grace shares her background and the interesting story of how she got into the financial advising space, unexpectedly.
- [11:43] “I don’t feel like I have to compete with my male counterparts”. The financial services industry is male dominated. Grace shares her experiences as a woman working her way up in the industry.
- [23:21] When someone is ready to work with a financial advisor, like Grace, she can help them avoid mistakes that could jeopardize their wealth-building efforts.
- [33:10] The verdict is in – Raya and Grace both agree that paying down high-interest debt should be a top priority, even above investing in the stock market.
- [43:37] Grace shares the time management tricks that work for her. She works better in small chunks of time when getting tasks done.
- [49:07] Fill your feed with financial encouragement to help make finances a priority in your life.
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