Financial Planning / Investing

Is financial coaching right for you?

02 June 2021 | Posted by Frankie Jones
Woman sat on sofa on FaceTime

It’s great that you’re thinking about financial coaching and whether it’s the right next step for you. If you’re already wondering if you could benefit from it, the answer is probably yes! It’s a flexible approach that helps you to define and work towards your individual goals, whatever they might be. 

There are, however, a few situations where another service might be more appropriate. 

Financial coaching is right for you if you…

  • Have some financial goals (e.g. buying a home, building an emergency fund, building a nest egg, saving for retirement) and want help achieving them
  • Want help defining what your financial goals are
  • Need your options explained to you in a simple, clear way
  • Would like to feel more confident making financial decisions
  • Need help managing your day-to-day finances better 
  • Want to start investing but you’re not sure how
  • Would like to learn how best to save for retirement
  • Aren’t in a position to shell out for a Financial Adviser (they tend to be expensive and cater only to people with sizeable amounts of money).
  • Are curious about whether you could be doing more with your finances

Coaching might not be right for you if you…

  • Are thinking about withdrawing from your pension in the next 5 years
  • Want help managing a sizeable and complex investment portfolio (e.g. more than £100,000)
  • Are going through an emotionally difficult experience that requires specialist support (e.g. serious illness, recently bereaved)
  • Would like to transfer a defined benefit pension
  • Are looking to invest on Claro but you have personal finances in the US and/or across multiple countries and tax regimes (only UK residents can invest on Claro at the moment)
  • In these cases, you might prefer to seek help from a Financial Adviser. Learn more about the difference between a Financial Coach and a Financial Adviser here.
  • If you’ve got a considerable amount of debt, a debt adviser or charity may be more suitable for you.

Coaching at Claro

At Claro, we’ve chosen to offer financial coaching because it’s accessible to everyone. Our aim is to help you make smarter decisions when it comes to your money, and just one session with a Financial Coach could give you answers to your questions and set you on the path to financial confidence.

If you’re still undecided about whether to book a Financial Coaching session, why not take a look around the Claro app? It’s filled with handy guides, articles and ideas to help you take control of your money.

“So personalised and helpful, and I could ask the questions I wanted.” – Claro coaching client

If you do decide to invest, remember that your capital is at risk.


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