Which do you need-A financial coach or a financial advisor?


A coach is someone who supports a learner in achieving a specific goal. In the case of a financial coach, it is someone who supports a client in achieving specific financial/life goals. A financial coach is not the same thing as a financial advisor. A financial advisor focuses specifically on investment planning, especially for retirement. Their focus is mostly on where and what to invest in.  Financial advisors don’t usually take the time to help clients understand why they spend the way they do and what steps they can take to change bad money habits. A financial advisor will not take on a client who is having financial difficulties because their salary is tied to the size of their client’s investment. If a person has no money to invest, then there is no need for a financial advisor.  On the other hand, a person who is struggling with their finances is an ideal candidate for financial coaching. Financial coaching is independent of your income level. A financial coaching program may be just the thing you need if you find that you are constantly having money trouble. Financial coaching is also more affordable and accessible for most people because it can take the form of group sessions before transitioning to  individual coaching sessions.


Most of the time people procrastinate when it comes to their finances for the following reasons:

  • Some find it overwhelming and intimidating. This is the result of a lack of knowledge mixed in with a heavy dose of the belief that handling one’s money is a complex and difficult. Today, this is more pronounced because of the copious amounts of information that is readily available.  One would think that this is a good thing.  In reality it has just the opposite effect. The volume of information makes it difficult for  anyone to navigate.  Instead of making things easier the availability and accessibility of information has actually increase the level of paralysis and anxiety when it comes to money.
  • Some are afraid of what they will find out. This is a typical ostrich in the sand phenomenon. Many of us fall prey to this type of behaviour, not only in the area of finances. We do it with our health and our relationships. It seems that the prevailing motto is to let sleeping dogs lie.
  • Some are not ready to deal with the implications. Others know exactly what awaits them and they simply procrastinate.
  • Others simply don’t understand the ramifications of not being in control of their finances. Most believe that they have time. If they only understood the beauty of compounding they would surely understand that it is never too soon to start planning for your financial future.
  • Finally, some are just waiting to win the lotto!

As a financial coach, I help people achieve their best financial self. My main role as a coach is support and help them align their values and attitudes so as to achieve their financial goals. In the process I equip them with the necessary tools and techniques to achieve their desired objectives.

The process begins with where you are. It usually starts with assessing your current financial situation and exploring spending habits and tracing the origin of these habits. Then we establish your financial goals/life goals. Based on these goals I recommend the necessary systems that must be implemented to achieve these goals. This can range from budgets, investment suggestions to journaling and introspection. Finally, I hold you accountable.

Finance is More than the numbers is not just my tagline it is a living experience. It is truly more than the numbers and the process. Money is an emotionally charged topic and each client is different. There is no cookie cutter solution.  Financial coaching is tailored specifically to the individual to ensure they have both the technical and emotional support needed while building their financial foundation.

Group financial coaching is best suited for those who are nervous about taking charge of their finances. This is because in a group setting you realize that you are not alone and that you have support and a network to help you along the way.   When you feel ready, you can take it to the one on one level and finally you move out on your own which is the ultimate goal.


For more information on financial coaching feel free to contact me at:



Dr. M



Published by Dr. M Finance Blog


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