In-depth Financial Coaching Interviews – Final Report

Karen Murrell
Karen Murrell

In the spring of 2012, CFS worked with Higher Heights Consulting to interview 11 financial coaches across the US. The interviews were designed to cover emerging practices and document ongoing challenges for the financial coaching field. By asking standardized questions across organizations that run similar financial coaching programs, we hoped to gain greater insight into the state of the financial coaching field in 2012.  J. Michael Collins, Karen Murrell, and Collin O’Rourke summarized their findings in this paper.

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In the spring of 2012, the Center for Financial Security (CFS) interviewed financial coaches at 11 organizations in order to document emerging practices and ongoing challenges for the field. The organizations were selected based on prior familiarity and through suggestions from CFS coaching partners. In general, the organizations serve low-to-moderate income clients, offer coaching free of charge, and have been trained on similar coaching models. The interviews covered the following topics: what financial coaching is and why it works, clients’ readiness for coaching, client retention and engagement, quality control, certification, technology, and financial coaching resources.