Last week we explored What is Financial Coaching and I shared the following definition:
Financial Coaching enables clients to achieve long-term prosperity by developing the competence to self-correct and self-generate. It is a collaborative process centred around the client’s agenda. The coach uses their tools of deep listening and powerful questioning to help their clients determine the direction, resources, relationships, and self-knowledge required to get them to where they want to go, living a life of purpose.
I received the following questions:
- How do you define prosperity?
- What do you mean by purpose?
- Can you please expand on the definition?
In this article I respond to these questions, using our Purpose Driven Financial Coaching framework.
Purpose-driven financial coaches focus on supporting clients and their loved ones to live a life of purpose while acquiring prosperity and navigating life’s transitions. Ultimately clients want to live in flow and be content.
We define purpose as, living a life of meaning, where the drive comes from living one’s values and collaborating with others creates belonging and value for self and others.
We define prosperity as, thriving while living one’s purpose. Money is just a resource that is needed to fund and maintain a life of prosperity.
We define being inflow, as an optimal state (language, mood and body) function with available resources to live a life of prosperity effortlessly and to grow and sustain wealth, health and resources to maintain the state now and in future.
As purpose-driven financial coaches, we acknowledge that:
- We are human, and that our way of being is critical in the financial coaching and planning process,
- We engage with each client as a human being and are deeply interested in their life and their success,
- An authentic and trusted relationship with our clients is vital for us and
- We always strive to deliver objective guidance and advice to our clients to support their ambitions, dreams, aspirations and support them through their life transitions as a thinking partner.
The purpose-driven financial coaching framework aims to integrate (1) focusing on the client as a human being, (2) the potential life-changing events that could impact on their planning, (3) map client’s ambitions, the impact of possible life-changing events on these and jointly plan for success, (4) through wise counsel support clients to implement optimal solutions, and lastly (5) act as an accountability partner to motivate, recognise and keep client accountable for sticking to their plans and help them to adjust plans where life happens.
We will unpack the framework further in the newsletter next week, looking at the integration points with financial planning through the lens of putting the client at the centre of the conversation.
