What are the limitations of financial coaching?
For most people, financial coaching provides sufficient guidance on how to manage their money. However, it's not right for everyone.
For most people, financial coaching can provide essential guidance on how best to manage their money. However, it’s not as comprehensive as a traditional Independent Financial Adviser, and there are cases in which financial coaching might not be right for you.

Complex Needs

If your circumstances are particularly complex then it might be necessary to get the full services of a financial adviser. For example, your case may be too complex for financial coaching if you:
  • Are within 5 years of retirement
  • Are thinking of making a withdrawal from your pension(s) within the next 5 years.
  • Are looking for help managing and investing more than £100,000
  • Are currently going through an emotionally difficult experience that requires more in depth support (e.g. Serious illness, recently divorced, recently bereaved).
  • Would like to transfer a defined benefit pension.
It is in these cases where the specialist services of a Financial Adviser are better suited to make sure you’re in the best possible financial position. If in the course of our conversations with you it turns out that you might be better off speaking to a Financial Adviser, our financial coaches will help you to find a local adviser who has been well reviewed by his or her clients on www.vouchedfor.co.uk.

Face to face advice

Finally, coaching might not be for you if you would prefer to speak to someone face to face instead of over the phone or via email. By delivering a phone based service we are able to serve more clients and keep our prices as low as possible, but that also means that we don’t get an opportunity to sit down with our clients face to face.
If face to face advice is important to you, we would recommend speaking to a local Financial Adviser.
Last modified 10mo ago