Table of Contents
Financial coaching could be a good career choice if you enjoy helping others manage their money. Being a personal finance coach is practical and rewarding, and best of all—you can do it entirely online. And there’s no time like the present to get started
Struggles with money are growing worldwide, with around 50% [1] of adults reporting feeling stressed about money in 2024. With unpredictable financial times, people may seek personal finance guidance from a coach to learn to manage their money better.
This article will show you exactly how to become a financial coach and what you can do to build a successful online financial coaching business.
Let’s dive in!
What is financial coaching?
Financial coaching takes a holistic, personal approach to helping individuals manage their money. It focuses on the big picture like a person’s financial habits and concerns to help them reach near-term financial goals.
Unlike financial planning or working with financial advisors, financial coaching typically doesn’t involve advising on investing or building long-term wealth. Instead, financial coaching tackles a person’s fundamental financial issues and money mindset to develop practical strategies that work for them.
Financial coaching may cover topics like:
At its core, financial coaching is about guidance, accountability, and encouragement to help clients learn essential money management skills.
What does a personal finance coach do?
An online financial coach works remotely to help clients build better money habits and improve their financial literacy.
Financial coaches focus on going beyond just giving money advice, they work with each client to discover the behavioral and emotional components that might impact their money management. A financial coach will:
Because of the remote nature of the work, online financial coaches may:
These tools and platforms make it possible for online financial coaches to deliver their services from anywhere. They can offer flexibility and scalability, helping you build your own coaching business and bring financial guidance to individuals worldwide.
Steps to become a financial coach online
How to become a financial coach? Doing so doesn’t necessarily require a degree in finance, but you may benefit from having certain skills and financial coaching training in place.
Here’s what you need to know to get started.
Build strong financial skills and knowledge
It may go without saying, but financial coaches need a strong understanding of the fundamentals of personal finance. Coaches also need to be able to apply this financial expertise to individual client goals and real-life situations.
If you’re considering becoming a financial coach, you might develop skills in:
There’s no need to become an expert in each area, but you do want a solid foundation so you can provide your clients with valuable guidance. Stay up to date with industry updates by reading books, following financial literacy experts online, and taking personal finance coach training.
Consider financial coach certification online
Although a formal certification may not be required in your area, you may want to consider personal finance coach training to become an accredited financial counselor. Earning a certification can demonstrate your commitment and quality to future clients, building trust and helping your coaching practice stand out in an increasingly competitive field.
Some well-respected certification options include:
A financial coaching certification program can be quite an investment, so consider a program’s industry standing and how it aligns with your personal goals. You may also want to check your area’s requirements to ensure you comply with any local coaching regulations.
Certification can help you stand out, there are plenty of successful financial coaches without holding a certification.
Hone your coaching skills
Beyond the numbers, systems, and spreadsheets, financial counseling is really about people. Your ability to connect with and guide your clients is just as important as your financial knowledge.
Strong coaching skills include:
Many aspiring financial coaches have the technical knowledge but struggle with coaching itself. If this is an area you want to improve, consider reading coaching books, taking communication courses, or practicing with friends or colleagues.
Leverage your experience
You can add depth to your coaching services by leveraging your personal experiences. Not only can this help you find your niche, but sharing your personal financial background can make you more relatable to clients.
Sharing your story can:
Think about your personal experiences with money and don’t be afraid to share them. Clients want to work with someone who understands their challenges and can show them what’s possible.
Setting up your financial coaching business
After developing your skills, it’s time to turn them into a successful financial counseling business. Online financial coaching requires both a head for money and a good business strategy to operate effectively.
Here’s how to set yourself up for success.
Define your niche and ideal client
Choosing a niche can help you attract the right clients and position yourself as an expert. You can choose a niche based on your personal experiences or based on common, yet specific, financial needs people tend to have.
Your ideal client should fit into this niche and exhibit either the financial desires or issues that your niche covers.
For instance, you may want to niche down to student loan repayment. Your ideal clients might then be students who are just about to graduate, recent graduates, or individuals who are behind on payments.
Alternatively, you may want to be a financial business coach and focus on entrepreneurs. So, you could niche down to finance strategy for business or become an online budgeting advisor for freelancers.
Some potential financial coaching niches and client groups could include:
Having a clear niche makes it easier to tailor your services and clarify your marketing. When potential clients see that you specialize in their specific challenges, they’re more likely to feel confident working with you.
Create an online presence
Most of your clients will find you online, so taking the time to build a strong digital presence is a large part of growing your business. You don’t need to be everywhere, but consider having the following essentials:
Pro tip: Make it easy for potential clients to get started by offering a “Book a Free Consultation” button on your website or social media profile. This can encourage individuals who may be unsure about your services to learn more.
Choose financial coaching software
The right financial coaching software can help you stay organized and provide a better coaching experience. Instead of juggling spreadsheets and emails, an all-in-one platform lets you manage everything efficiently.
To make sure you choose right, look for tools that offer:
An LMS can be very helpful if you want to create courses, quizzes, orinteractive course activities that supplement your coaching. Some platforms allow you to track client progress and reward milestones, which can make learning more engaging and effective.
💡If you’re looking for a budget-friendly LMS to get started, consider platforms that offer scalable pricing based on your needs.
Highlight your value and expertise
Online coaching is in demand, but it’s also competitive. To stand out, you need to communicate to clients who you help, what you offer, and how you get results. You can do this by listing your experience and credentials on your website or by using social media to share posts that align with the topics you cover in your coaching services.
Another way to do this is by developing a unique value proposition—a simple, clear statement that demonstrates why a client should work with you.
If someone were to ask why they should hire you, how would you answer them in one or two sentences?
To develop your value proposition, start by asking yourself:
Use the answers to these questions to write a simple statement that describes what you do and who you help.
Try this formula:
“I help [specific type of client] achieve [specific financial goal] by [your unique approach].”
For example:
“I help young professionals break the paycheck-to-paycheck cycle by creating simple, stress-free budgeting systems.”
Or
“I help small business owners get control of their cash flow so they can grow their business with confidence.”
Your value proposition will become the foundation of your brand. Feature it on your website and social media pages, and use it in conversations with potential clients. The clearer and more specific your message, the easier it is for the right people to find and trust you.
How do I start a financial coaching business?
So, you have your certification, you’ve honed your coaching skills, and you’ve identified your unique offerings and niche. What’s next? Let’s dive deeper into how to attract clients and grow your brand.
Use social media and content marketing
Social media isn’t just about making your services easier to find. Having a consistent social media presence on platforms or through blogging can build trust and inform potential clients of your coaching services.
To make your content effective:
Last but not least, hosting online courses onfinance eLearning platforms can also be a great way to offer financial education to clients and generate passive income.
Build a referral network
Referrals are one of the best ways to gain clients quickly. To grow your network in the financial coaching industry:
Leverage existing client relationships to build a client base of financial coaching clients effectively.
Use testimonials to build trust
Testimonials turn potential clients into paying ones. To make them work for you:
If you’re just starting out, offer discounted first sessions in exchange for feedback to start collecting testimonials early.
Jon Morgan – CEO, Business and Finance Expert at Venture Smarter, explains how he managed to build trust for his coaching business:
“Starting an online financial coaching business came with a challenge I didn’t see coming. Getting people to trust advice from someone they had never met in person was tough. In a traditional setting, body language and face-to-face conversations build confidence, but online, those things disappear. I had to prove my expertise in other ways.
The real shift happened when I moved beyond live coaching and started offering structured digital courses. This gave them a low-risk way to see my teaching style before investing in one-on-one coaching, which helped build trust faster.”
Is becoming an online financial coach worth it?
Starting a financial coaching business takes effort, but is it worth it? We’ll leave that up to you to decide, but it can be an incredibly rewarding career. Here’s why:
You make a real impact
Money stress affects everything from mental health to relationships to daily life. As a coach, you offer advice and help people develop confidence, boost their financial education, and create lasting financial stability. This is the sort of help that has the potential to change lives.
You have complete flexibility
We have touched on this before, but it’s key. Financial coaching allows you to:
It’s profitable and scalable
As an online financial coach, you get to choose what you offer, how you offer it, and how much to charge. Most financial coaches charge by the hour or per session, but you can scale by:
This allows you to grow your income without constantly trading time for money.
(Jon Morgan – CEO, Business and Finance Expert at Venture Smarter)
Ready to invest in financial coaching online?
Being a financial coach online lets you help others while maintaining a career that is run on your terms. In this article, we’ve covered everything from building your financial coaching skills and getting your financial coach certification online to finding prospective clients.
Now it’s time to take action.
If you’re ready to become a financial coach, get started with a free trial of LearnWorlds. Our platform is the financial coaching software you need to create, manage, and scale your training programs.
Sources
[1] https://www.cnbc.com/2024/04/03/the-vibecession-has-gone-global.html
Ciera Lamb
Ciera is a freelance content writer and editor connecting companies with their ideal audiences through blog articles and other online content. She approaches her writing with curiosity and research and enjoys the ever-present learning that comes with being a content writer. She is also an avid scuba diver, an aspiring Dutch speaker, and lover of all things nature.
Back to blog
Scroll to top
FAQ
Everything you have ever wondered, but where too afraid to ask...
