Work when and where you want
“I love being in control of my own schedule and time. I earn the money I want working 3 days a week – it’s so flexible.”
Read more about why Jeremy became a coach after a long career in accounting
“I really want to help people and that’s not something that’s easy to get from a job – that sense of impact.”
Read more about why Claire coaches in her spare time
Be your own boss
“If you want to go on holiday, or work more one week than the next, you can. I love that autonomy.”
Read more about why Priya became a coach
So…what is a financial coach?
Financial coaches help people explore their life goals and show how they can make those goals achievable.
Using our powerful financial planning software and comprehensive training, our coaches make it simple, engaging and exciting to plan and improve your future finances.
Financial coaches are also self-employed and work flexibly.
How do coaches work with clients?
Coaches take a holistic approach, so they can help clients with any area of their finances.
From budgeting and savings, to investments and pensions, and even mortgages and life insurance – coaches provide all of the information and support clients need to achieve their goals.
How do coaches make money?
Our coaches only get paid directly by their clients for their time, which ensures their incentives are strongly aligned.
They never recommend specific financial products, which means they don’t rely on hidden commission fees.
How do coaches get clients?
Financial Coaches are self-employed. Once accredited, they can serve clients from within their community, as well as their personal and professional networks.
They can also choose to coach employees of workplaces that work with Octopus MoneyCoach.
How to spot a brilliant financial coach
A desire to help people
Your primary motivation – demonstrated through your work, volunteering or life experiences
You’re experienced in the arts of open questioning and active listening, naturally understanding people’s hopes and fears.
You’ve got a strong ability to communicate and work with people from all backgrounds with confidence and enthusiasm.
You may not be a mathematical guru, but you’re numerate and think analytically.
You understand the importance of delivering on commitments and are used to juggling competing priorities.
Sound like you or someone you know?
While you’re a trainee you’ll be able to offer clients 50% off our usual subscription fee. This allows you to sign a handful of real life clients to gain experience with, and allows you to put your training into practice immediately. In order to cover the costs of the training course we’ll keep 100% of the subscription fees from clients you sign up while you are a trainee.
Online Training Course: Here you have call scripts, example calls, videos, financial theory, compliance rules etc
Training Webinars: In small groups we will go through what’s in the online training course and do deep dives into specific areas. We will also run through the different types of calls you will be holding with clients and potential clients.
Real Life Practice: Throughout the training programme you will be holding sessions with real people. This will allow you to solidify all the theory you’re learning in the webinars and online course by putting it all into practice.
Mentor: You will have a dedicated mentor who will be helping you all the way through the training programme. They will be on hand to answer any questions you have, help you get set up with all the systems and listen to all of your calls so they can provide tailored feedback allowing you to constantly learn and develop.
To become an accredited coach you need to demonstrate that you can deliver the service to the highest standard. You will need to go through the online training course and attend the webinars. But the most important thing is to learn and develop through real life practice by holding sessions with clients and potential clients.
Your mentor will judge how well you are doing with these sessions and once you’re at the right level you will be ready to become accredited. A good sign that you are doing great is when you start signing people up to the full service and then providing that service to them.
Within a few years, successful coaches can build a client bank of around 250 clients. This would give you annual earnings of around £46,500. As a self-employed coach with a limited company, you may be able to reduce the tax you pay on this by up to a third.
We provide you a range of services without further charge, including training, monitoring, development, accreditation, brand usage, marketing support, financial planning tools, CRM systems, billing support and more. We may charge additional amounts for other services, for example, where we introduce workplaces and potential clients to you.
You will still have a dedicated mentor who will help you build a successful coaching business. They will have monthly catch ups with you to make sure you’re happy and have everything you need. We will be constantly reviewing your calls and plans to make sure you’re always learning and developing. If you need extra help then your mentor is on hand to provide that.
Accredited coaches have access to a weekly webinar where we deep dive into different areas. This could be new training, discussing what’s coming up or open forums for everyone to share their thoughts. You’ll also have access to the coach community where you can interact with other coaches, discuss financial topics together or just say hi.