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4 Best Financial Coach Certifications in 2024: An Unpaid Review

4 Best Financial Coach Certifications in 2024: An Unpaid Review

Interested in exploring the exciting field of financial coaching? In this article, you’ll discover the top certification programs for becoming a world-class coach who makes money while making a difference in people’s lives.


Are you passionate about personal finance and helping others achieve their financial goals? If so, you may have considered the rewarding path of becoming a financial coach. In today's fast-paced and ever-evolving world, where financial well-being holds significant importance, the demand for skilled financial coaches is skyrocketing.

In this comprehensive article, we will delve into the world of financial coaching and explore the top financial coach certifications of 2024. We'll cover everything you need to know, from understanding the role of a financial coach and why you should consider joining this growing field, to the process of becoming a certified financial coach. We'll also highlight the benefits of certification, provide an overview of the best certification programs available, and discuss the future prospects of financial coaching.

So, whether you're looking to kickstart a new career or enhance your existing coaching practice, let this serve as your roadmap to success in the realm of financial coaching. 

What is a financial coach?

When it comes to navigating the complex landscape of personal finance, having a knowledgeable and supportive guide by your side can make all the difference. That's where a financial coach steps in. A financial coach is a trained professional who combines financial expertise and coaching know-how to help individuals gain control over their finances, set achievable goals, and develop the necessary skills to make informed financial decisions.

What makes financial coaching unique?

Unlike financial advisors or accountants who primarily focus on providing advice or handling specific financial tasks, financial coaches take a holistic approach to personal finance. They understand that money management is not just about numbers; it's about the individual's beliefs, behaviors, and aspirations. Financial coaches act as compassionate mentors, offering guidance and support throughout the financial journey.

While financial advisors and accountants often specialize in providing expertise in investments, tax planning, or retirement strategies, financial coaches focus on building a strong foundation of financial literacy and fostering healthy financial habits. They help individuals and small businesses understand their current financial situation, identify their goals, and create actionable plans to achieve them.

What does a financial coaching session look like?

In a typical financial coaching session, a coach may discuss a wide range of topics, including:

  • budgeting
  • debt management
  • saving strategies
  • retirement planning
  • investment basics

They work closely with clients to analyze their spending patterns, identify areas for improvement, and develop customized strategies to optimize their financial well-being.

For example, a financial coach might help a client create a realistic budget tailored to their income and expenses, establish an emergency fund, or develop strategies to pay off debt systematically. They may also provide guidance on setting financial goals, such as saving for a down payment on a house, planning for a child's education, or building a comfortable retirement nest egg.

It's important to note that while financial coaches offer valuable guidance, they do not provide specific investment advice or engage in complex financial transactions. Instead, their primary focus is on empowering individuals to make sound financial decisions and providing the accountability and support needed to transform their financial lives.

By working with a financial coach, individuals gain not only the knowledge and skills necessary to manage their money effectively but also the confidence and motivation to take control of their financial future. 

Now that we clearly understand what financial coaching entails, let's explore why becoming a certified financial coach can significantly enhance your career prospects and credibility in the field.

Why become a certified financial coach?

If you're considering a career or venture into the world of financial coaching, you might wonder whether obtaining a certification is necessary or worthwhile. Let's explore the advantages and disadvantages of becoming a certified financial coach and address the question of whether certification is even a requirement at all.

Advantages of Certification:

  • Credibility and Trust: Obtaining a financial coach certification adds a layer of credibility to your professional profile. Certification demonstrates that you have undergone specialized training, acquired knowledge, and met certain standards set by reputable certification bodies. It instills trust in potential clients who seek assurance of your expertise and commitment to ethical practices.

  • Competitive Edge: In a rapidly growing field like financial coaching, certification can give you a competitive advantage. It sets you apart from non-certified coaches and positions you as a qualified professional with the necessary skills and knowledge to guide clients effectively. Certification can enhance your marketability and increase your chances of attracting clients and opportunities.

  • Enhanced Skill Set: Financial coach certification programs offer comprehensive training that equips you with a diverse range of skills. These programs cover topics such as financial planning, communication techniques, behavior modification, and client psychology. The knowledge and tools acquired through certification can significantly enhance your ability to address clients' needs and deliver impactful coaching sessions.

Disadvantages of Certification:

  • Time and Financial Investment: Pursuing a financial coach certification requires an investment of time and money. Certification programs often involve completing coursework, exams, and practical requirements. Additionally, there may be associated costs such as registration fees and study materials. It's important to weigh the financial commitment against the potential benefits and consider whether the investment aligns with your career goals.

Is Certification Required?

The financial coaching industry currently does not have a universally mandated certification requirement. Unlike certain professions where certification is legally mandated, such as certified public accountants (CPAs), financial coaching remains an unregulated field. However, even without a legal requirement, obtaining certification is often recommended to establish credibility and position yourself as a qualified professional.

That said, there are plenty of successful financial coaches who have achieved recognition and success without holding a certification. One notable example is Ramit Sethi, a renowned figure in personal finance coaching, known for his expertise in areas such as money mindset and behavioral change. Listening to his podcast can offer valuable insights into the approach of a popular non-certified financial coach.

Ultimately, the decision to pursue certification depends on your goals, resources, and commitment to professional growth. Assessing the advantages, disadvantages, and alternative paths can help you make an informed choice that aligns with your aspirations as a financial coach.

Next, we'll explore the process of becoming a certified financial coach and highlight some of the best certification programs available in 2023.

How to become a certified financial coach (7 crucial steps)

If you’re ready to take the step toward establishing yourself as a qualified professional through certification, here’s a rundown of what the process will look like, practically. 

  1. Research and Understand the Field: Begin by familiarizing yourself with the field of financial coaching. Gain a comprehensive understanding of the skills, knowledge, and competencies required to excel in this profession. This will help you assess whether financial coaching is the right fit for your interests and goals.
  2. Choose a Certification Program: Select a reputable certification program that aligns with your career objectives. There are several organizations that offer certified financial coach programs, each with its own curriculum and requirements. Research their offerings, course content, and reputation to make an informed decision.
  3. Meet the Program Requirements: Each certification program will have specific requirements for enrollment. These may include completing prerequisite courses, demonstrating a certain level of experience or education, and passing exams. Ensure that you meet the program's prerequisites before applying.

  4. Complete the Training: Once enrolled in a certification program, diligently complete the required coursework, assignments, and practical training. Take advantage of the resources provided, engage in discussions, and actively participate in any mentorship or coaching opportunities offered.

  5. Fulfill Practical Requirements: Some certification programs require participants to demonstrate their coaching skills through practical exercises or supervised coaching sessions. Embrace these opportunities to gain hands-on experience and refine your coaching abilities.

  6. Pass Certification Exams: To obtain certification, you will typically need to pass exams that assess your knowledge and competence in various aspects of financial coaching. Prepare thoroughly by studying the program materials, seeking additional resources, and practicing sample exam questions.

  7. Start and grow your financial coaching business: There's a lot that goes into this—from setting up your business legally to deciding on payment structure, developing your marketing strategy, and more. Check out Practice's How to Start a Coaching Business, for a step-by-step guide that applies regardless of what type of coaching you plan to offer. 

The 4 best certifications for financial coaches

We’ve covered that certification isn’t required, and there are no mandatory qualifications for becoming a financial coach. However, obtaining qualifications and credentials can help boost your knowledge and skills as a financial coach—while building trust with prospective clients and opening new avenues of employment. 

Here’s an overview of the top certifications for financial coaches to consider pursuing in 2023, followed by tips for choosing the approach that’s best for you and your goals.  

  1. Financial Coach Academy (FCA)

Founded by a group of four successful financial coaches, the FCA has trained hundreds of financial coaches since 2015. According to their website, the FCA “doesn’t just focus on financial theories or coaching skills.” Instead, it covers a trifecta of skills bridging both the monetary knowledge and number-crunching superpowers needed for the financial side, plus the emotional intelligence and mindset-shifting skills of a coach. 

Training programs the FCA offers for financial coaches:

  • The Financial Coach Academy (for those just starting out)

  • The Financial Coaching Toolkit (for coaches who already have a foundation and want to grow their businesses while expanding their skillset)

Who’s it for?

Individuals who are interested in starting a part-time or full-time financial coaching business of their own. 

  1. Certified Personal Financial Wellness Consultant (from the National Financial Educators Council, or NFEC)

Since 2006, the NFEC has been recognized as a leading provider of independent financial wellness resources. The NFEC Financial Coaching Program is designed to “help you reach more people with high-quality financial coaching services… to effectively build your coaching practice and serve your clients in the best possible manner.” Covering everything from financial knowledge to practical coaching strategies and business development tools, this accredited certification aims to be the all-in-one resource new and aspiring financial coaches need to thrive. 

Who’s it for?

Individuals who desire certification from an accredited institution (which may increase perceived credibility) or those who are interested in exploring careers outside of private practice financial coaching—such as opportunities in government/military, education, or nonprofit. 

  1. Ramsey Solutions Financial Coach Master Training (FCMT)

In connection with Dave Ramsey—an eight-time national bestselling author, personal finance expert, and hose of The Ramsey Show, heard by 23 million listeners every week—the FCMT is designed to help you “Change lives and make money as a Ramsey Solutions Master Financial Coach.” With this self-paced, 100% online training program taught by Dave Ramsey’s team of coaches, you’ll learn both the financial and coaching aspects of working with clients. 

Who’s it for?

Individuals who are interested in starting a part-time or full-time financial coaching business of their own. 

  1. Association for Financial Counseling & Planning Education (AFCPE)

The AFCPE offers an NCCA-Accredited Financial Counselor Certification program that aims to provide “you with the knowledge and experience to meet individuals and families where they are, help them build a strong financial foundation, realize their goals, and achieve lasting financial well-being.”

Who’s it for?

Recognized as one of the most rigorous continuing-education certification programs for financial coaches and counselors, the Accredited Financial Counselor is a great fit for individuals who desire certification from an accredited institution (which may increase perceived credibility) or those who are interested in exploring careers outside of private practice financial coaching—such as opportunities in government/military, education, or nonprofit. 

Tips for finding the right program

  1. Research program credibility: As noted above, accredited programs mean they are recognized by reputable organizations in the coaching or financial industry. Accreditation ensures that the program meets established standards of quality and professionalism. However, this isn’t the only factor to consider when it comes to credibility—other factors include things like the rigor of the content covered, and testimonials/reviews—which are covered below.

  2. Consider curriculum and specializations: Evaluate the curriculum of each program to ensure it covers the essential areas of financial coaching that align with your interests and goals. Some programs may offer specialized tracks or modules focusing on specific niches, such as small business coaching or retirement planning.

  3. Seek program reviews and testimonials: Read reviews and testimonials from individuals who have completed the program you're considering. Their experiences can provide insights into the program's effectiveness, quality of instruction, and relevance to real-world coaching scenarios.

  4. Evaluate program support and resources: Assess the level of support provided by the program, such as access to mentors, coaching resources, and ongoing professional development opportunities. Strong program support can enhance your learning experience and provide valuable networking connections.

  5. Consider practical components: Look for programs that emphasize practical application and provide opportunities for supervised coaching or mentorship. Practical components enhance your ability to apply coaching techniques in real-world scenarios.

By following these steps and considering the organizations listed above, you can embark on a certification program that equips you with the necessary skills and knowledge to become a successful certified financial coach. In the next section, we will explore the benefits of getting certified and how it can enhance your career as a financial coach.

The benefits of getting certified

Obtaining certification as a financial coach offers numerous advantages that can enhance your career prospects and open doors to exciting opportunities. Let’s take a quick look at some of the key benefits of becoming a certified financial coach.

  1. Expanded Career Opportunities: Becoming a certified financial coach widens the range of career opportunities available to you. You can work independently as a self-employed coach, join financial coaching firms, or collaborate with other professionals in the finance industry. Certified coaches are sought after by individuals, businesses, and organizations looking for expert guidance in managing their finances.

  2. Income Potential: Financial coaching can be a rewarding profession both personally and financially. As a certified financial coach, you have the potential to earn a competitive income. The demand for financial coaches continues to grow as individuals and businesses recognize the value of professional guidance in achieving their financial goals. Plus, according to Practice’s State of Coaching Report for 2023, coaches with certifications charge 3x more than those without.

  3. Diverse Industries: Certified financial coaches are sought after in various industries—from government to education, nonprofits, and more. By getting certified, you may have more versatility to explore the different avenues of work offered in financial coaching that extend beyond private practice.

By obtaining certification as a financial coach, you position yourself as a qualified professional in the field, increasing your credibility and attracting clients and opportunities. The benefits extend beyond financial rewards, as you have the opportunity to make a meaningful impact on individuals' lives by empowering them to take control of their finances.

The future of financial coaching

Financial coaching is becoming increasingly popular as people seek expert guidance to achieve their financial goals. The future of this industry looks bright, with expanding opportunities and advancements in technology playing a vital role.

Let's explore what lies ahead and how you can stay ahead of the game.

  • Rising demand for personalized guidance: As the complexities of personal finance continue to increase, more individuals are recognizing the value of personalized financial coaching. One recent survey found 77% of Americans are anxious about their financial situation. Another study found two-thirds of Americans would struggle to come up with $1,000 in an emergency. Indeed, the demand for certified financial coaches is expected to keep growing as people seek tailored solutions to their financial challenges. This presents a fantastic opportunity for current or aspiring coaches.

  • Embracing technology for enhanced coaching: Technology is transforming the way financial coaching is delivered. Innovative tools and platforms (like Practice's customer-relationship-management platform for coaches) are being developed to streamline coaching processes and engage clients more effectively. By leveraging these advancements, you can expand your reach and offer digital resources that complement your coaching services.


Becoming a certified financial coach opens up a world of opportunities to help others achieve financial success. With the growing demand for personalized guidance and advancements in technology, the future of financial coaching is looking bright. So, grab your coaching hat, embrace the journey, and get ready to make money moves while helping others do the same. Remember, with the right certification and a passion for helping people, you'll be on your way to earning money part-time or full-time doing what you love. 

Speaking of doing what you love: If you’d like help managing your coaching business so you can spend more time changing lives, we can help. Designed specifically with coaches in mind, Practice’s customer-relationship-management (CRM) platform allows you to schedule sessions, safely store client data, manage payments, and send important documents with ease. Start your free trial today.

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