Courtney Myers Blog | Five Things to Look for in a Financial Coach | Talkmarkets

Five Things to Look for in a Financial Coach

Date: Thursday, January 3, 2019 9:49 PM EDT

Is one of your New Year’s resolutions to finally get a handle on your finances? Are you ready to truly start planning for retirement, even if you just entered into the workforce? If so, you’re likely aware that the investment realm can be complicated at best and downright impenetrable at worst. For the uninitiated, it’s full of jargon, options, paperwork and opinions.

That’s why it helps to have an expert on your side. While advice from well-meaning family and friends can be a great starting point, to truly make decisions that are the best for your specific scenario, you’ll need to enlist the support of a financial mentor or coach. Educated on and experienced in handling all aspects of money matters, from retirement planning to college savings, they’ll be able to walk with you every step of the way, so you can be confident you’re making the right move.

Naturally, you want to team with someone who is a solid fit for you and your family. Yet, with so many local experts in your community, how can you be sure you’re working with the right one? Today, we’re sharing five traits to vet for as you research your options. A coach who exhibits all of these characteristics and more is one to put on your short list.

1. Robust Qualifications

Of course, a financial coach fresh out of college might have plenty of know-how and be an ideal partner in your journey. Yet, in most cases, it’s best to work with someone a little more seasoned, who has had time to learn as much as possible about the industry and earn some top-tier qualifications and certifications in the process.

Is their background in financial planning or is this a new career change? How long have they been practicing at their current firm? You should take the time to interview your candidates and learn as much as possible about their educational and professional history before moving forward. Some certifications to inquire about include Certified Public Accountant (CPA), Certified Financial Planner (CFP), Financial Risk Manager (FRM) and more.

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Susan Miller 1 year ago Member's comment

Dr. Barton sounds impressive. Does he publish here as one of TalkMarkets' certified contributors?

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