Broker Check

Coach or Advisor: Which is Right for You?

So what is the difference between a coach and advisor? The distinction is fairly simple. A financial advisor provides advice on financial products and services. A coach works to help the client set goals, develop plans and provides ongoing coaching, education and guidance.

Some client’s prefer the advisor model. These individuals tend to be disciplined, have already accumulated wealth and are confident in their overall knowledge of financial planning tools. They are seeking focused expertise and advice on specific financial products. 

The coaching model is more long-term. It’s an ongoing collaborative relationship involving exploration of goals, dreams, strengths and weaknesses. Clients who prefer the coaching model are typically very good at making and saving money, but recognize a need for greater knowledge in how to “be retired.”

Coaches encourage client’s to develop greater financial knowledge, and believe an informed client will help assure each decision they make has the maximum possible positive impact on their situation. 


Develops plans and strategies based on client’s individual strengths, weaknesses, and goals
Provides set plans, tactics and strategies 
Works with clients to expand client’s skills and knowledge
Provides advice based on advisor’s offerings
 Educates client to increase proficiency 
 Advisor remains the expert
 Works toward greater client independence
 Client remains dependent
 Collaborative approach between client and coach 
 Offers advice for client to follow
 Provides knowledge, encourages discipline
 Provides advice and guidance
 Focused on education and personal growth
 Advises on financial products
 Teaches self-responsibility 
 Advisor takes on responsibility
 Holistic approach to retirement with confidence
 Focused on financial product performance