Eben Burr | Source | Managing Director at Toews Asset Management

Financial coaching is establishing processes and tools for balancing the behavioral and financial needs of the client. The hard-wired response of many is to get greedy and take on more risk when markets are advancing, to become fearful when they are declining, and want to sell and experience frustration in sideways markets and want to shift into whatever has performed the best as of recent. A financial advisor can design an individualized financial plan and investment portfolio for their client, but if the client is always wanting to make emotionally based changes to their financial and investment plan, then the financial advisor’s efforts may be in vain.