People ask me this every week: “Do I need a financial coach or a financial advisor?” Here’s the short answer. A financial advisor grows the money you already have. A financial coach helps you build the foundation so you have money to grow.
What a Financial Advisor Does
A financial advisor is licensed to recommend investments, manage portfolios, and plan for retirement. Many are paid through fees on the assets they manage or commissions on the products they sell. They’re the right call when you have savings to invest and need help putting it to work.
What a Financial Coach Does
A financial coach works on your behavior, your habits, and your plan. That means:
- Building a budget you’ll actually follow
- Creating a debt payoff plan with a real end date
- Saving an emergency fund
- Getting you and your spouse on the same page
- Holding you accountable when life gets in the way
I don’t sell investments, and I don’t earn commissions on anything you buy. My only job is to help you follow through.
Which One Do You Need?
You need a coach if: you’re living paycheck to paycheck, carrying consumer debt, arguing about money at home, or you earn decent money and can’t tell where it goes.
You need an advisor if: your debt is handled, your emergency fund is full, and you have money ready to invest.
Most people need a coach first. Investing on top of a shaky budget is building a house on sand. When my clients are ready to invest, I refer them to licensed advisors I trust.
Work With a Financial Coach in Ogden or Salt Lake City
I’m Josh Doutre, a Certified Ramsey Coach based in Ogden, Utah. I coach clients in person in Ogden and Salt Lake City and virtually nationwide. Book a free 30-minute consultation.
