When it comes to managing your money, the options can feel overwhelming. Should you hire a financial advisor? Work with a money coach? Or both?

Understanding the difference between these roles can help you make the best decision for your financial journey.

What Does a Financial Advisor Do?

A financial advisor is like a guide for your investments and long-term financial growth. Their focus is on managing your money for you.

Here are some typical responsibilities of a financial advisor:

• Creating and managing investment portfolios
• Helping with retirement planning (e.g., IRAs, 401(k)s)
• Providing advice on financial products like insurance and mutual funds
• Guiding clients on estate planning and tax strategies

 What about Wealth Planners?
You might also have heard of wealth planners. They can vary from Financial Advisors. While financial advisors focus on investments and financial products, wealth planners take a more comprehensive approach. They look at your entire financial picture, including estate planning, tax strategies, generational wealth transfer, and philanthropic goals. Wealth planners are particularly useful if you have significant wealth and want to ensure long-term stability, not just for yourself, but for future generations.

Who Are They Best For:
Financial advisors and planners are ideal if you have a complex financial situation—like managing stock options, inheriting a large amount of money, navigating a complicated family dynamic with dependents, or if you simply have zero interest in managing it yourself and are okay with paying fees for someone else to handle it.

What Does a Money Coach Do?

A money coach, on the other hand, focuses on the foundations of money management. Instead of managing your money for you, a money coach helps you to take control of your finances and build a strong financial foundation. The goal is to guide you, using financial education and various coaching techniques to help you understand how the choices you make affect your life.

Here’s what a money coach typically helps with:

• Budgeting and creating spending plans
• Building emergency funds and savings
• Managing and paying off debt
• Providing investing education so you can start with confidence
• Helping you create a personalized system that works for your unique life and goals

Who It’s Best For:
Money coaches are perfect for those who want to gain clarity and confidence with their finances—whether you’re just starting your financial journey, trying to get out of debt, or ready to take control of your financial future.

Which One Do You Need?

The truth is, it depends on where you are in your financial journey.

• If you’re feeling overwhelmed by managing day-to-day finances or don’t know how to start saving or investing, a money coach can give you the guidance and tools you need to get started. Much like a fitness coach, you start working with one because you’re unsure how to train effectively. But you maintain the relationship because they keep you accountable, challenge you to grow, and help you reach new levels as you evolve.
• If you’ve already built wealth and want someone to handle your investments and complex planning, a financial advisor might be the right fit.

Why Choose a Money Coach First?

Money coaches focus on empowerment and education. Instead of just telling you what to do, they work with you to create a system that’s aligned with your goals, values, and lifestyle. It’s about giving you the confidence to manage your money in a way that feels right for you.

Ready to feel confident about your money?
As a money coach, I specialize in helping women like you create personalized plans for budgeting, saving, and my specialty, beginning to invest. Schedule a free 15-minute discovery session HERE, and let’s get started on your journey to financial clarity.