Where to Find Coaching as a Financial Advisor

You want to scale your business and become the advisor prospective clients line up for, but you’re unsure how to achieve your goals. Maybe you’ve heard about coaching for financial advisors and are wondering how it may benefit you. In 2023, 46% of advisors reported working with a coach and the vast majority of them associated coaching with professional improvements, according to a survey of over 400 advisors.¹ Financial advisor coaching programs can help you clarify your business objectives, position your firm to attract and retain clients, and support a better work-life balance. The key is finding the right coach to work with.

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10 Places to Find Coaching for Financial Advisors

Financial advisor coaching programs may be a click or a phone call away. It all depends on what you’re looking for. If you’re starting from square one, here are some places to look for coaching services to help you grow.

1. CFP® Board

The CFP® Board oversees the Certified Financial Planner™ examination and credentialing process. If you specifically need coaching to prepare for the CFP® exam, you can connect with a Board-approved mentor for help.

CFP® mentors can help you develop a study plan and offer support as you prepare to sit for the exam. They can also walk you through exam practice questions to help you identify areas where you may need to focus more of your study time.

Exam coaching services are free; you’ll need to create an online profile to search for a Certified Financial Planner™ to work with. Once you’ve created your profile, you’ll have access to tools that can help you complete your studies, including a Mentee Success Kit, a resource library and an exam prep checklist. 

2. Financial Planning Association (FPA)

The Financial Planning Association is a premier professional organization for financial advisors offering career advancement training and resources, including opportunities to connect with coaching services. FPA partners with Carson Coaching to offer exclusive benefits, including:

• Online on-demand coaching with 30 select courses
• Monthly virtual group coaching sessions
• One-on-one executive business coaching
• Access to the Emerging Advisor Growth Accelerator Program
• Thought leadership resources
• Discounts for local and national workshops and events

If you’re not an FPA member, you may consider joining to take advantage of the association’s resources and networking opportunities. There are five member categories to choose from, based on where you are in your career journey. All membership tiers require annual dues, while some also carry local chapter dues. 

3. National Association of Personal Financial Advisors (NAPFA)

NAPFA currently offers two mentoring programs targeted at specific groups within the advisor community.

• Women’s Initiative Mentoring Program: This program offers accelerated professional development for women by pairing them with a female NAPFA member.
• DEI Mentoring Program: This program encourages diversity in the financial advisory space by connecting mentors with mentees to build community.

All mentors are NAPFA members themselves and bring their unique experience and knowledge to the table. You’ll need to submit an application to the mentoring program of your choice. Keep in mind that these programs may be open for a limited window only, as NAPFA routinely updates its mentoring and coaching opportunities.

4. International Coaching Federation (ICF)

The International Coaching Federation is not specific to the financial services industry, but advisors can use this resource to find a coach to work with. You can get coaching as an individual or for your organization as a whole.

When you’re ready to find a coach, you can use the ICF’s Credentialed Coach Finder tool to conduct your search. You can filter by credential level, services offered, experience, demographics and other factors to narrow down the list of potential candidates. If you’d like to learn more, ICF offers a free guide that explains how coaching may support leadership development.

5. Oechsli

Oechsli offers multiple services and resources to help advisors grow, including advisor-specific coaching programs. The company’s coaching services emphasize accountability, skill development and routine-building, as well as the importance of a future-forward mindset. Coaching includes one-on-one advice, on-demand courses and live classes to help you work toward your business goals.

Coaching for financial advisors is designed for individuals who are looking to grow and inject new energy into their firm. Oechsli’s pricing for coaching services is straightforward, with a one-time down payment and an ongoing monthly fee. You’re not required to commit to any long-term contracts, and the typical advisor stays in the program for at least three years. 

6. CEG Worldwide

CEG Worldwide offers coaching services to advisors who are interested in working with high-net-worth clients and developing their AUM growth strategies. There are two coaching program tiers:

• The Elite Wealth Manager: This comprehensive 10-month coaching program is designed to support wealth managers as they work toward their growth goals. Advisors get access to an expert coach, along with multi-day coaching sessions, 90-minute workshops, virtual conferences, accountability partnerships and an extensive library of learning resources.
• Roundtable: Roundtable is a mastermind group for advisors who have completed The Elite Wealth Manager Coaching program. Members get access to a yearly live session, virtual coaching sessions, one-on-one coaching, online learning resources and regular implementation workshops.

Both of these coaching options require a fee. The cost for The Elite Wealth Manager is $30,000; the annual fee for Roundtable membership is $25,000.

7. ClientWise

ClientWise aims to help advisors evaluate profitability, revenue and business growth. The company offers multiple programs that extend to coaching, consulting, interactive learning and a Business Builders Academy. Coaching options include:

• Individual coaching
• Team development and leadership coaching
• Ensemble coaching
• Executive coaching

Coaches are certified by the ICF and work with advisors on business development, leadership and growth goals. Size isn’t a barrier to entry, as ClientWise works with advisors of different sizes on business development goals.

8. Select Advisors Institute

Select Advisors Institute offers business coaching for financial advisors, RIAs and asset managers. Coaching services cater primarily to advisors who are in leadership roles, as well as advisors who want to develop marketing plans tied to their business goals. 

Some of the areas Select Advisors Institute can help with include goal-setting, work-life balance and time management, growth mindset, lead generation, communication and collaboration. Programs are available for firms ranging from 20 to 200 people, which may be helpful if you have a small team that you’d like to expand. 

Founder and CEO Amy Parveneh is always the main coach for advisors who use the program. That can be reassuring for advisors who may be worried about being handed off to someone else midway through their coaching journey.

9. Carson Coaching

Carson Coaching says it has worked with more than 12,000 advisors on growth planning. Carson says the program is based on the philosophy and techniques it used while growing its own firm. Coaching options are available for emerging advisors, established advisors and executives, and there’s no minimum AUM required to enroll. 

Coaches act as both guides and accountability partners to help you navigate each step of your growth plan. You can also get help with time management strategies, delegation and outsourcing, as well as new talent acquisition. Interested advisors can schedule a free one-hour consultation call to learn more about the program. Enrollees also have access to Excell, Carson’s annual financial advisor conference. 

10. Advisor Legacy

Advisor Legacy offers coaching services for advisors that focus on five dimensions of growth: structural independence, leadership, value, lifestyle management and continuity design. Service packages are built around these pillars and advisors may choose from:

• Executive coaching
• Operations coaching
• NextGen Advisor coaching

Each program applies a different approach to help advisors achieve specific goals. The cost ranges from $1,000 to $2,500 per month, depending on which coaching program you choose.

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Other Ways to Find Coaching for Financial Advisors

If you’d like to research more options, there are other avenues you can use to find coaching for financial advisors. Here are some of the strategies you might try. 

Networking and Social Media

Your network can be an invaluable tool when you need coaching for financial advisors. You may know an advisor or two who has undergone the coaching process, or who offers coaching and mentoring services to other advisors.

Go through your contacts and consider who may be able to connect you with a coach. Once you have a few people you want to reach out to, send a short email asking if they have someone they might refer you to.

You could also post about your search on social media if you’re comfortable doing so. For example, you might share on LinkedIn that you’re looking for an experienced business coach. Or you could search LinkedIn for coaching professionals with the type of experience you’re looking for and reach out to see if they’re taking on new clients.

Financial Advisor Conferences

Attending financial advisor conferences can help you broaden your network and stay up to date on the latest industry trends. Participating in conferences is also another way to find advisor coaching services.

Scan the list of guest speakers and discussion panels to look for topics that may be relevant to coaching. A business development roundtable, for instance, could offer a chance to mingle with potential mentoring or coaching candidates.

Online Search

A simple search could help you find coaches that offer services online or in your local area. You may choose to work with an individual or a coaching firm. 

Here are a few terms you might use to generate results:

• Financial advisor coaching services near me
• Where to find a coach for financial advisors
• Business coaching near me
• Online financial advisor coaching services
• Coaching services for financial advisors

Once you have some results, it’s time to do your research. A coach’s website can tell you quite a bit about who they are, what they do and whether they may be a good fit for your business.

Ask these questions to evaluate them:

• Does the coach hold any professional certifications or designations that make them uniquely qualified to offer coaching services?
• Are financial advisors their typical clients, or do they work with a broad range of professionals who need coaching?
• How long have they been offering coaching services?
• What specific coaching services do they provide?
• What is their coaching philosophy or style?
• How do they communicate with their coaching clients? For example, will you only meet virtually or is there an opportunity to complete coaching face to face?
• What resources, if any, do they provide? For example, will you have access to an online learning portal, videos, textbooks or other tools?
• What do they charge for their services?
• Will you need to sign a contract to become a coaching client? If so, does the contract offer any type of satisfaction guarantee or allow either of you to terminate the coaching relationship at any time?
• What do they expect from their coaching clients regarding accountability and reporting?
• Does the company offer any other resources, like sales training programs for advisors?

Look for testimonials from current or previous clients on their website. You can also search review websites and the Better Business Bureau for mentions of the coach and their services. You may even want to check with your state’s attorney general’s office to see if any complaints have been filed against a coach.

Remember to trust your instincts throughout this process. A coach may have all the right credentials and say all the right things, but if they don’t meet your needs or you have a gut feeling they aren’t the right coach for you, you might want to look elsewhere for help.

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Frequently Asked Questions (FAQs)

Bottom Line

Coaching may be helpful for financial advisors who feel stuck in a rut or need an outside perspective on advancing their business goals. If you’re ready to find a coach to work with, you can start your search with the options we’ve shared above. 

Tips for Growing Your Advisory Business

• One piece of advice a coach may offer is to build out your digital footprint. Working on search engine optimization (SEO), creating social media content and building your email newsletter list are all ways to increase your visibility online. You could also consider partnering with an advisor marketing platform to expand your reach. SmartAsset AMP (Advisor Marketing Platform) is a holistic marketing service that financial advisors can use for client lead generation and automated marketing. Sign up for a free demo to explore how SmartAsset AMP can help you expand your practice’s marketing operation. Get started today.
• When choosing a coach, consider how many other clients they currently work with. If a coach has a lengthy client list, it’s possible that you may not get as much one-on-one time as you’d like. A coach who only serves a few clients at a time, on the other hand, may be able to devote more of their focus to your needs.

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