13 min
· Posted on
September 7, 2022


Individuals and businesses are constantly looking for ways to develop and make progress in all spheres of life. For individuals, these areas might include career, finances, and relationships. Businesses also seek to succeed in terms of their finances and corporate responsibilities. Here comes the need of a solid online financial coach.

One of the most desired kinds of control is that of one’s finances and the creation of wealth. The death of formal financial education certainly contributes to the poor credit status and financial crises experienced by many.

Up to 80% of Americans are in debt according to the Pew Charitable Trusts [1]. With the global economic crunch, it is now more important than ever to have a grip on one’s finances.

People can achieve this by employing the services of a financial coach, whether for virtual or physical consultations.

This provides a great business avenue for people with the necessary skillset. Also, technology has made it possible to access the services of a coach from anywhere in the world by using a mobile device or computer.

Online financial coaching can be rewarding in terms of finances and satisfaction gained from having satisfied customers.

online financial coach

The Basics of a Coaching Business

Coaches may be employees of an organization, entrepreneurs, or volunteers. Most coaches hope to be successful in the field.

This is rather different from counselling because, unlike counselling, coaching tends to focus on specific areas and measurable outcomes.

To become a coach, one must chart a course, build a reputable brand, find ways to monetize coaching and reap the full benefits of their work.

But that's some pretty general stuff, to succeed at financial coaching, one has to tailor their skills to fit the industry. According to the National Financial Educators Council, individuality can make coaching a challenge and this can be surmounted by working with different people to make your skills sharp [2].

You must make your customer understand the basics of financial planning. A lot of people are all about the easy and fast way.

They think Wall Street is literally paved with gold and all they need is to wear the fanciest suits and start racking in the millions. It’s your duty as a financial coach to correct some of these myths and misconceptions amateurs have.

Here are some of the basic things a potential client should get out of your course:

Do you think you could do these things successfully? Have you been giving free financial advice out to friends and family? If so, you’re already on your way to being a full-time financial coach. Just a few adjustments and the title can be yours.

Note – an online financial coach is different from a financial advisor. The later most likely has a formal education on financial management and has passed the necessary examinations to become a certified financial advisor.

They are the ones who are responsible for giving investment advice and recommendations unlike the financial coach [3].

online financial coach by gurucan

How to Become an Online Financial Coach

To become an online financial coach, you must first become a financial coach. Of course, these two processes can be done simultaneously. This work is especially for the above scenario and an established financial educator looking to make their services available online.

Want to become an online financial coach? Use the following steps as a guide.

Get trained and certified

Some level of training is important. Certification boosts your credentials and the client's confidence in your services. It is one thing to be an online financial coach, it is another to be a capable one.

Note that financial coaching certainly goes beyond advising people to be in control of their funds.

According to the National Financial Educators Council, there are six core principles of financial education including content knowledge, andragogy, coaching best practices, ethical standards and regulations, practice and client management, and professional responsibilities.

Get some hands-on knowledge

Find a supervisor under whom you’ll learn the ropes and fine-tune your skills. Perhaps practice on your family and friends for now.

Decision time

Make clear decisions about your business and choose your clientele: individuals or corporate organizations.

Find a catchy name for your business

Choose the kind that can evoke curiosity and interest, but stay away from the corny or absurd. Steer clear of making ridiculous claims such as, "Learn how to grow $10 to $1,000,000,000 in 30 days." No one is going to buy that.

Entrepreneur and author of several business books, Leslie Truex, suggests consulting a lawyer to draft a coaching contract that will help to define services and expectations [4].

Find a good host platform

App or website? Whatever you say goes. Sort out logistics using a platform like Gurucan. Connect with different payment platforms and develop subscription packages.

Get the necessary equipment

From personal computers and mobile devices to headphones and routers, make sure your gadgets are of good quality and in top shape to support your business.

Good equipment also ensures clarity, thus making it easier for clients to follow your coaching.

Set up your online financial coach consultation space

A warm, ambient, but well-lit corner of your office or home would be ideal. Strategically place special artworks and props. Noise can be distracting for both parties, so, choose a quiet place.


Build a rich bank of content. Your content knowledge is just as important as your people skills and teaching abilities.

Make your content practical and relatable. All of these should make up a major part of your preparation process.

Great customer service

Work on establishing rapport with both old and new customers. Offer personalized services. Keep track of customer’s records and progress. Share testimonials with permission. Maintain the highest level of confidentiality.


Vigorously advertise and promote your online services. Create ads, promos, write contributions to blogs.

Improve yourself

Learn every day. Go for further update courses. These abound both online and offline. After all, the best teachers are those who still believe in learning [5].

Join professional bodies

This keeps you abreast of the latest money trends and educational tips. It also adds color and contributes greatly to content, credibility, and confidence. Your customers need to see you know your onions. They’ll be more trusting and likely to follow your tutelage.

Be informed

Being aware of the many financial waves, woes, and wins of the world at large makes you offer relevant advice per time. Advisory in the face of a global economic recession will of course vary even if slightly from when the going is good. Help your customers make reasonable investments.

online financial coach income

Monetizing your coaching business

This should occur simultaneously with starting up. Develop different packages that will appeal to a wide range of audiences. Fix a suitable charge/ hour for your live coaching sessions.

Here are a few extra ways to make money from your digital business as an online financial coach

Why You Should Start an Online Financial Coaching Business

Ease of access

Customers can easily identify and access the services of a coach from anywhere they are located. Barriers of distance can be broken.

Relatively easy to set up

You have the option of finding a platform to help you set up. You don’t have to be tech-savvy. With the help of a suitable EdTech platform, you can easily launch your course, and even have access to professional guidance along the line.

Can be comfortably set up at home

Your humble abode can come to the rescue. A spare room, study, or even a corner of your living room can suffice. This comes with the perks of working at home.

Multiple streams of income

Working online offers a wide range of options and opportunities. Some of these are sales of coaching materials, hand-outs, pre-recorded videos, and online group classes.

Flexible plans

You can always tweak your services to suit your customers’ tastes. Online courses give you space to explore and be creative with packages offered. These plans may also be customized to fit individual schedules.

online financial coach business on gurucan

Why You Should Choose Gurucan

Gurucan is a great platform to create online coaching live sessions, blogs, webinars, community, chats, and online courses.

What is the best way to coach people online and what do you need?

We’re highly partial to the use of a mobile-friendly approach to creating online courses. To create a successful course, a solid LMS (learning management system) needs to be used to control all aspects of this course. Pairing this with a mobile platform is a great direction to take [8].

Your content can be delivered to your clients on the go. With m-learning, it can be personalized to suit a client's specific needs. Also, extra features such as sharing of larger files, and video lectures can be added and accessed from anywhere.

All these are provided for your clients in the palm of their hands. The flexibility and comfort of this coaching style are enough to turn potential clients into real clients [9].

To take it to the next step, create an app for learning. Load it with your content and add a means of adding more updates and content over time. This should be a highly customizable app where people can learn the basics of the financial world.

However, there should also be an option for your clients to have online sessions with you for the coaching proper.

An understanding of networking and how to use it is also a great tool to have in the money market. Build a community of some sort with your clients and take your coaching business to the next level.

This is another reason to adopt an m-learning style for your business. With m-learning, you can connect users with other users, educators, and experts to form an online community where they share their thoughts and questions regarding various topics [10].


How much money does a financial coach make?

The income of financial coaches varies with experience and location. According to Leslie Truex, Payscale puts this at a range of $29,000 to $253,000 per year with an average hourly rate of $32.42/hour. Of course, individuals generally pay less than corporate organizations do.

How do I start a financial coaching business?

Decide what kind of services you’d like to offer: primarily online, offline, or a mix of both. Get some training and certifications if possible. Set up your office/workspace. Get a host platform and launch. Work to build a loyal clientele. Vigorously advertise/promote your business. Keep track of your clients' progress so far.

Do I need a financial coach?

If you feel overwhelmed by your finances, yes. You’d need a financial coach if you do not feel in control of your finances, are in debt or continually tapping into your savings. Many people would benefit from the services of a financial coach. This is especially important if you have no retirement/savings plan.

How much do online coaches make?

This is highly variable. This is because working online creates multiple streams of income. They aren’t limited to money made from coaching sessions. Most online coaches earn an average of $32.42 per hour. Those with a strong online presence earn additional income through user subscriptions, ads, books, public lectures, etc.

How do financial coaches get clients?

Referrals are a vital means of getting new clients. Word of mouth is a traditional but effective method. Ads, promos, free sessions, public lectures, and articles are other means. Make active contributions to blogs and online communities. Harness social media as a powerful marketing tool.

Do financial coaches make money?

Yes. Most financial coaches make money from offering a range of services.

How much do financial coaches charge per hour?

On average, financial coaches charge $32.42 per hour.

How do I become a successful financial coach?

Always be warm and friendly. Add your own flavor to your services. Attend knowledge sharing meetings/ classes. Develop yourself and constantly add to your knowledge bank. Build trust. Your clients need to have guarantees of safety, knowing that they are assured of their privacy is key to opening up. This will also earn you a reputation that will inch you closer to the top. Heartfelt reviews are a timeless brand booster. Appreciate individuality. Every customer should be handled and coached as a unique individual according to their specific needs and expectations. Be honest. Don’t create unrealistic expectations. Explain the process as you go along so that they don’t feel left out or confused.

Who is the most famous financial advisor?

That would be difficult to determine. There are many popular and successful financial advisors famed for their prowess in different aspects of financial coaching.  Popular among them are Benjamin Graham, Warren Buffet, Peter Lynch, and Suze Orman to mention a few.


By now, you will have realized that online financial coaching is a great responsibility, despite being demanding. Always adopt the coaching best practices and the highest level of professionalism.

Don’t forget the basic principles. These are the tenets on which a successful coaching career is built. Guard your reputation zealously.

Continually develop yourself. Evolve with the times. Be an avid reader with a voracious appetite for learning. To be a top-notch educator, you must be a consistent learner yourself.

Be sure to have a reliable and efficient platform such as Gurucan to ensure that there are no logistic or technical issues along the line.


  1. The Complex Story of American Debt. Pew Trusts. https://www.google.com/amp/s/www.pewtrusts.org/en/research-and-analysis/reports/2015/07/the-complex-story-of-american-debt%3famp=1. Accessed 16-09-2020.
  2. How to Start a Financial Coaching Business: 6 Practical Steps. Financial Educator Council. www.financialeducatorscouncil.org/how-to-start-a-financial-coaching-business. Accessed 16-09-2020.
  3. HOW TO BECOME A PROFITABLE FINANCIAL COACH. Whitney Hansen. https://whitneyhansen.com/becomeafinancialcoach/. Accessed 16-09-2020.
  4. How To Start A Home-Based Coaching Business. Leslie Truex. The Balance. www.thebalancesmb.vom/how-to-start-a-coaching-business-1794520. Accessed 16-09-2020.
  5. HOW TO START A SUCCESSFUL FINANCIAL COACHING BUSINESS FROM HOME (THE ULTIMATE GUIDE). Zander Fryer. https://zanderfryer.com/2020/05/29/how-to-start-a-financial-coaching-business-online/. Accessed 16-09-2020.
  6. 17 Ways to Monetize Your Online Coaching Business Using Info Products and Smart Services. Beta and Beyond. https://betaandbeyond.com/read/17-ways-to-monetize-your-online-coaching-business. Accessed 16-09-2020.
  7. Create Courses with Online Course Builder. Gurucan. https://www.gurucan.com/features/online-course-builder. Accessed 16-09-2020.
  8. What is a Learning Management System? Valamis. https://www.valamis.com/hub/what-is-an-lms. Accessed 16-09-2020.
  9. Why do your online courses need a mobile app? Gurucan. https://www.gurucan.com/posts/mobile-app-online-courses. Accessed 16-09-2020.
  10. Mobile Learning: Making Content Available Anytime, Anywhere. Xyleme. https://xyleme.com/mobile-learning-making-content-available-anytime-anywhere/. Accessed 16-09-2020.

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