Are you trying to figure out how to start a financial coaching business?

Starting a financial coaching business or any other business is a challenging task. It involves a lot of decision making and other factors like

If you’re a financial coach and struggling with the above, this post is for you. This is a detailed guide on financial coaching and how to start a financial coaching business in 7 steps. 

What is financial coaching?

Financial coaching is a type of coaching that focuses on helping individuals or businesses improve their financial situation by providing guidance, accountability, and support. 

Financial coaches help their clients set and achieve financial goals, such as 

  • Reducing debt
  • Building savings
  • Improving credit scores
  • Creating a budget
  • Achieving financial freedom 
  • Retirement planning

Unlike financial advisors, who typically focus on managing investments and providing financial advice, financial coaches take a more holistic approach towards financial wellness. 

They work with their clients to identify and address the underlying beliefs, behaviors, and attitudes that can impact their financial decisions and help them develop healthier financial habits.

Types of financial coaching

Financial coaching can be conducted in person, over the phone, or online, and is mostly tailored to meet the specific needs and goals of each client.

Financial coaches may also specialize in certain areas, such as retirement planning or debt management. However, as a financial coach looking to start a financial coaching business, here are some of the most common types of financial coaching services. 

Types of financial coaching
  • Budgeting Coaching:
    This type of coaching focuses on helping individuals or businesses create a budget and stick to it. It can include teaching them how to track expenses, prioritize spending, and save money.
  • Debt Management Coaching:
    Debt management coaching focuses on helping individuals or businesses develop a plan to pay off their debts, reduce interest rates, and avoid future debt.
  • Retirement Planning Coaching:
    Retirement planning coaching helps individuals plan and prepare for retirement by setting goals, creating a retirement budget, and developing a strategy for maximizing retirement income.
  • Investment Coaching:
    Investment coaching helps individuals or businesses learn about different investment options and create a plan for investing their money wisely.
  • Business Financial Coaching:
    Business financial coaching focuses on helping business owners improve their financial management skills, develop financial projections, and make informed decisions about financial matters affecting their business.
  • Financial Education Coaching:
    Financial education coaching provides individuals with the basic knowledge they need to make informed financial decisions, such as understanding credit scores, budgeting, and saving.
  • Wealth Management Coaching:
    Wealth management coaching focuses on helping individuals or families with significant assets manage their wealth, develop a plan for preserving and growing their assets, and plan for future generations.

As a financial coach, you can choose to specialize in one or more of these areas or offer more generalized financial coaching services.

However, business coaching and personal coaching are the two most evolved categories in the financial coaching niche.

Who needs business financial coaching?

Business financial coaching is beneficial for business owners who want to improve their financial management skills and make more informed decisions about financial matters affecting their business.

Here are some examples of who could benefit from business financial coaching:

  • Small business owners who are just starting and need help with creating a financial plan, managing cash flow, and tracking expenses.
  • Established business owners who are looking to grow their business, increase profits, and expand their operations.
  • Business owners who are struggling with financial issues such as mounting debt, declining revenue, or a lack of profitability.
  • Entrepreneurs who are looking to start a new business need help with financial planning, budgeting, and forecasting.
  • Business owners who are preparing to sell their business and want to maximize the value of their business and prepare for the transition.
  • Individuals who want to develop good financial habits such as saving, budgeting, and investing.
  • Individuals who are experiencing financial stress or facing financial challenges such as debt, unemployment, or unexpected expenses.
  • People who want to improve their credit score and learn how to manage debt effectively.
  • Couples who want to improve their financial communication and develop a joint financial plan.
  • Individuals who are planning for major life events such as buying a home, starting a family, or planning for retirement.
  • High net worth individuals who need help managing their wealth and developing a comprehensive wealth management plan.

How to start a financial coaching business in 7 steps

Having discussed the importance, niche, and types of financial coaching, let’s get started on how you can start a financial coaching business in 7 steps.

  1. Identify your niche
  2. Get the required training, education, or certification
  3. Create a business plan
  4. Develop your coaching plans
  5. Build a coaching website
  6. Develop a promotion strategy
  7. Build a client base

By following these key steps, you can start a successful financial coaching business and help others achieve their financial goals.

How to start a financial coaching business in 7 steps

1. Identify your coaching niche

The first step in starting a financial coaching business is to identify your niche. You should decide on what specific area of financial coaching you would like to focus on. This could include areas such as

  • Budgeting
  • Retirement planning
  • Debt management
  • Investment planning
  • And so on

This can help you differentiate yourself from other financial coaches and attract clients with specific needs.

2. Get the required training, education, or certification

A degree in finance, accounting, or a related field can help become a financial coach. However, it’s not always necessary. Many successful financial coaches have backgrounds in other fields such as psychology, social work, or education.

To become a financial coach, it is essential to have the necessary certifications and credentials. Many financial coaching programs offer certification, which can help you establish credibility and gain the skills and knowledge needed to succeed as a financial coach. Some of the most popular certifications include

  • International Coaching Federation (ICF)
  • Certified Financial Planner (CFP)
  • Chartered Financial Analyst (CFA)
  • Accredited Financial Counselor (AFC). These certifications will help you gain credibility and trust among your clients.

These certifications will help you gain credibility and trust among your clients. It can also be helpful to gain experience in the financial industry or a related field before becoming a financial coach. This can include working as a financial advisor, accountant, or financial analyst.

3. Create a business plan

Once you have the skills and knowledge needed to become a financial coach, it’s important to develop a business plan and marketing strategy.

A business plan is essential for any new business. It should include details on your

  • Target market
  • Competition
  • Pricing
  • Marketing strategies
  • Financial projections.

A well-crafted business plan will help you stay on track and reach your business goals.

Furthermore, You will need to choose a legal structure for your financial coaching business, such as a sole proprietorship, partnership, LLC, or corporation. You will also need to obtain any necessary licenses and permits to operate your business legally.

Creating a brand also falls in the process of the business plan. Your brand is what sets you apart from your competition. It includes your

  • Business name
  • Logo
  • Tagline
  • Etc

4. Develop your coaching plans

Packaging financial coaching services involves creating structured and tailored coaching programs that meet the needs of clients while also being profitable for your business. Here are some steps to package your financial coaching services effectively:

  1. Define your ideal client: Determine who your target market is and what their specific financial needs and goals are.
  2. Develop coaching packages: Create a range of coaching packages that offer different levels of support and cater to clients with varying budgets. This may include one-on-one coaching sessions, group coaching programs, or online coaching courses.
  3. Determine pricing: Set prices that are competitive with other financial coaching services in your area. Consider offering different payment options, such as hourly rates, flat fees, or monthly subscription packages.
  4. Create a program outline: Clearly outline the content and structure of each coaching program, including the number of sessions, duration, and topics covered. This will help clients understand what they can expect from the coaching experience and make an informed decision about which program is right for them.
  5. Continuously refine your packages: As you gain more experience as a financial coach and receive feedback from clients, continue to refine and improve your coaching packages to better meet the needs of your clients.

By packaging your financial coaching services effectively, you can attract more clients and help them achieve their financial goals while building a successful and profitable coaching business.

5. Build a coaching website

A professional coaching website can play a very significant role in the success of your online coaching business.

Website development however is a complex task and it is recommended that you outsource it to development experts especially those who are already working in the coaching niche. To develop a website you have several things to work on for example

However, if you decided to go DIY with website development, here are some must have elements of the website that you should address to make it more engaging and enhance its chances of conversion

  • Header: The header section must address the problem your clients are facing, the solution you are providing, and the results they will achieve while working with you, Also there must be a clear CTA.
  • Stakes: Use a bulleted list to define what is at stake if they don’t work with you.
  • Value proposition: This should be your unique selling point and you should clearly define the value you will be adding to your client’s lives.
  • Guide: Another great paradigm shift is portraying yourself as the guide on your website instead of the hero. Do this by imparting empathy and authority.
  • Plan: You must have a plan section on the homepage so your clients know what it will be like to work with you. Ideally, it should have no more than 3-5 steps.
  • Results: Add another section to show them a happier version of themselves by addressing the results they will achieve by working with you.
  • Navigation: Add no more than 3-4 links to the main navigation and don’t forget to include the CTA. Add all important links, contact information, and social links in the footer section.

You can also review this post on building a coaching website that grows your business!

6. Develop a promotion strategy

Promoting a financial coaching business is essential to attract clients and building a successful practice.

There are hundreds of financial coaching businesses, which offer the same services. No one will find out about you unless you make an effort to promote it. 

There are various ways to promote your coaching business online but we have shortlisted some of our favorite methods that we found most effective and work in almost every online business. Let’s take a look at them.

Search engine optimization is the process of improving your website in all aspects for it to rank better for relevant searches. Search engines like Google, Yahoo, and Bing use various factors for ranking pages for search results such as

Email marketing
Email marketing means asking your readers to sign up by leaving their email in return for a valuable download or by signing up for your email newsletter.

This helps you to keep them updated about important news, offers, products, new content, and other significant information. 

However, the purpose of this newsletter should not solely be promotional. It should provide value to the customer and you should avoid spamming your potential customer’s inbox. Also,

Keep your newsletter simple and to the point, and use catchy subject lines and headings rather than stuffing it up with fancy words. 

Social media marketing
Use social media platforms to share information about your services and connect with potential clients. You can also use social media to share helpful tips and information about financial planning and money management.

Most of them work in the same way, one important thing to keep in mind while promoting your business on social media is targeting the correct audience.

Some of the most popular social media platforms that you should try not to skip are:

  • Facebook
  • Twitter
  • Instagram
  • Linkedin

Starting a blog
Write blog posts about financial planning and money management to establish yourself as an expert in the field. Share your blog posts on social media and your website to attract potential clients.

Giving back to your community has proven to be an excellent strategy to promote your business online. The thought of giving back to the community entices your audience and helps you establish authority and respect for your business. 

Attend networking events
Attend local networking events and conferences to meet other professionals in the financial industry and promote your services. This can help you build relationships with other professionals who may refer clients to you.

Also, strategic collaborations or joint ventures with other organizations can change your coaching business overnight. 

Offer free consultations
Offer free consultations to potential clients so they can learn more about your services and determine if financial coaching is right for them. This can also help you establish a relationship with potential clients and demonstrate your expertise.

Ask for referrals
Ask satisfied clients to refer their friends and family to you. Referrals are one of the most effective ways to attract new clients, as people are more likely to trust a service that comes recommended by someone they know.

7. Build a client base

Finding new clients or customers is one of the biggest ongoing challenges for any business, particularly when starting.

To help you out with this, we have asked the following question from industry-leading coaches:

How to get coaching clients? What is your best advice for coaches who are just starting out?

Check out their generous replies in this post.

Furthermore, Building your client base is crucial to the success of your financial coaching business. You can do this by networking, attending industry events, offering free consultations, and leveraging social media and other marketing channels that we have already discussed above.


Becoming a successful financial coach takes time, effort, and dedication. However, by following these steps and staying focused on your goals, you can build a successful financial coaching business and help clients achieve their financial dreams.

I hope this post gave you in-depth knowledge of financial coaching, its types and benefits, and how to start a financial coaching business.

Feel free to leave a comment below or get in touch if you have a question. You can also schedule a call if you need help with starting a financial coaching business.

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About Rana

Building a website that drives traffic and generates leads is challenging. Rana is a website development consultant and a Co-Founder of WP Minds, a website consulting service that helps coaches, trainers, authors, and creatives to create winning website strategy, develop high converting websites, attract visitors and convert leads into customers to grow their businesses.

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