How to Start a Financial Coaching Business? Expert Panel Answers
- Brainz Magazine
- Aug 18
- 3 min read
Updated: Aug 20
Interested in launching a financial coaching business? Our Brainz Expert Panel reveals the key steps and insights you need to get started, ensuring a successful and impactful venture.
Expert Panelists
1. Foundation before aesthetics
The biggest mistake I see new coaches make, financial or otherwise, is obsessing over logos and websites before proving their offer. Start by solving real problems for real people. Get clear on who you help, what result you deliver, and why it matters. From there, test your message, refine your process, and get client results. Only then should you worry about branding. A great coaching business isn’t built on aesthetics; it’s built on trust, outcomes, and clarity.
2. Strategize for growth
Starting a financial coaching business begins with clearly understanding your niche and target audience. Begin by gaining relevant certifications, such as becoming a Certified Financial Social Worker, which equips you with the skills to help clients address their relationship with money. Develop a business plan outlining your goals, target market, and services. Establish your brand and create a comprehensive marketing strategy to reach potential clients. As you start working with clients, set measurable goals and design tailored interventions to help them achieve financial wellness. Lastly, continuously refine your approach based on client feedback and industry trends to ensure your business's long-term success.
3. Lead with authenticity
You really do need to master finances, financial concepts, and really understand Finance 101. Furthermore, you really need to understand money and coaching principles. Above all, you need to have a great understanding of your client's needs, money mindset, biases, habits, and plans. A great financial coaching business can be built on the foundation of transparency, accountability, good communication, and habit building. Clients need to connect with your philosophy of money. Having great street credit and a financial CV helps too!
4. Act without delay
One thing I see with clients is that they so often wait until all of their ducks are in a row or for the exact perfect moment when everything is together. What if you just started? You can make adjustments and changes later and often will learn so much from just starting.
5. Build skills and stand out
Starting a financial coaching business can be an incredibly rewarding endeavor. The key to success is to have a clear plan and the right tools for success. First, it’s important to develop a business plan that outlines your vision for the company, your target market, and what services you plan to offer. Additionally, you should research the competitive landscape in order to understand how you can differentiate yourself from other financial coaches in the market. Second, you need to acquire the necessary skills and knowledge required to provide effective financial coaching services. This may include taking courses or certifications related to personal finance, investing, or tax planning. Additionally, it’s important to stay up to date on industry trends and regulations so that you can provide accurate advice and guidance to your clients. Finally, it’s essential that you build relationships with potential clients by marketing yourself through digital channels and getting real sales.
Dr. Kapil and Rupali Apshankar, Award-Winning Board-Certified Clinical Hypnotists | Board-Certified Coaches
6. Embrace imperfection
Don't wait to figure out how to do everything perfectly before starting your financial coaching business. It will evolve over time as you grow and change. I've been a financial coach since 2008, and almost everything has changed since then: my ideal client, my coaching packages, my pricing, and my marketing. Start now, and allow yourself to upgrade your coaching business as you learn and grow.
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