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Financial Coaching in Practice: Findings From a Survey of Financial Coaches

Financial Coaching in Practice: Findings From a Survey of Financial Coaches Financial coaching is an emerging strategy to help people enhance financial capability and well-being. However, few studies of coaching practices have been completed. A survey of 273 coaches in the United States provides insight into current coaching practice. The average coach in the survey served 19 clients per month and saw each client about four times. The range of coaches varied widely; many coaches operated at a relatively small scale, often embedded in social service programs. Coaches generally reported coaching had positive impacts on clients, especially coaches with more training and those who served more clients. Overall, this study shows the financial coaching field includes an array of approaches but may benefit from capacity building and adoption of standards of practice. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of Financial Counseling and Planning Springer Publishing

Financial Coaching in Practice: Findings From a Survey of Financial Coaches

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Publisher
Springer Publishing
Copyright
© 2021 Springer Publishing Company
ISSN
1052-3073
eISSN
1947-7910
DOI
10.1891/jfcp-19-00097
Publisher site
See Article on Publisher Site

Abstract

Financial coaching is an emerging strategy to help people enhance financial capability and well-being. However, few studies of coaching practices have been completed. A survey of 273 coaches in the United States provides insight into current coaching practice. The average coach in the survey served 19 clients per month and saw each client about four times. The range of coaches varied widely; many coaches operated at a relatively small scale, often embedded in social service programs. Coaches generally reported coaching had positive impacts on clients, especially coaches with more training and those who served more clients. Overall, this study shows the financial coaching field includes an array of approaches but may benefit from capacity building and adoption of standards of practice.

Journal

Journal of Financial Counseling and PlanningSpringer Publishing

Published: Dec 21, 2021

References