What are the core values of Penny Coach, LLC?

Fee for Time Based Coaching – We are a fee for time based service.  While we may offer financial services and products to our clients, our main form of compensation is our coaching fees.  Your coaching contract involves goals and time frames.  We are committed to working with our clients to meet their goals during the time frame specified.  Our primary objective is to educate clients as to some of their available options.  Our clients hire us to help them determine options, evaluate options, clarify client values and determine client goals.

Customer Service and Teaching Clients - Helping you reach your goals is the reason why we are in business.  “If you help enough people get what they want in life, you can get whatever else you want in life.”  Zig Ziglar  Simply put, if you’re not satisfied and your not meeting the objectives determined at the beginning of our coaching, we’re not satisfied.  Depending on the circumstances, we may offer to extend the coaching contract at a discounted rate or extend the contract without additional fees so that our clients can implement the principles we teach.  Our goal is satisfied clients that are referring other customers to us.

Certified Financial Planner Model – Adapted from the CFP Board ®.  Following this process, sets up very clear expectations and ensures the success of both the coach and the client.

1. Establishing and defining the client-planner relationship.  The financial planner and life coach will clearly explain and document the services to be provided to you and define both his and your responsibilities. The planner should explain fully how he will be paid and by whom. You and the planner should agree on how long the professional relationship should last and on how decisions will be made.
2. Gathering client data, including goals. The financial planner should ask for information about your financial situation. You and the planner should mutually define your personal and financial goals, understand your time frame for results and discuss, if relevant, how you feel about risk. The financial planner should gather all the necessary documents before giving you the advice you need.
3. Analyzing and evaluating your financial status. The financial planner should analyze your information to assess your current situation and determine what you must do to meet your goals. Depending on what services you have asked for, this could include analyzing your assets, liabilities and cash flow, current insurance coverage, investments or tax strategies.
4. Developing and presenting financial planning recommendations and/or alternatives.  The financial planner should offer financial planning recommendations that address your goals, based on the information you provide. The planner should go over the recommendations with you to help you understand them so that you can make informed decisions.  During coaching sessions, the coach will listen to your concerns and revise the recommendations as appropriate.  At the end of each coaching session, the coach will draft an e-mail with notes and next steps.
5. Implementing the financial planning and life coaching recommendations. You the client are responsible for making all final decisions and implementing the plan.  The planner will serve as your “coach,” coordinating the whole process with you and other professionals such as attorneys or stockbrokers if needed.  However, our coaching services do not include communicating with creditors or negotiating on your behalf.  Some clients choose to call creditors from our office and ask us to coach them during the call.
6. Monitoring the financial planning and life coaching recommendations. Each coaching session begins with questions about progress and status since the last visit.  Because the client has exclusive responsibility for decisions and implementation, clients have a responsibility to inform the coach with status updates.

Holistic Approach to Life and Money – Financial decisions are extremely complex.  The number one reason cited for divorce in America is money fights and money issues.  Many financial planners drive their decisions based upon quantitative numerical analysis.  We believe a calculator is just one tool in the decision making process.  Ultimately life goals, values, and lifestyle present other factors.  Money has relationship impacts, spiritual aspects, emotional aspects, and financial aspects.  A good solid plan incorporates each of these areas.

Referral Network – The CFP® model involves solving a financial issue from perspectives:  CPA, Estate Planners, Insurance, Investing, Real Estate, etc.  Our approach blends life coaching and financial services into a comprehensive life plan.  We may need to address career and income issues, marriage and family counselors, pastoral counsel, and social services.  Your coach may send you a referral to another service provider.  We encourage you to evaluate these professionals before engaging their services.  Unless otherwise discussed, we do not receive compensation from referral partners.  However, many of our partners choose to advertise on our web site, newsletter or media programs.

Faith Based Service – Our God given calling in life is to help people optimize their life and optimize their money.  We teach 2000 year old common sense principles from the Bible.  Due to our faith background and affiliations, we help a lot of Christian believers.  However, our client list is very diverse (Jewish, Agnostic, Athiest, Hindu, etc).   The principles we teach are universal truth.  “Just as the rich rules over the poor, the borrower is slave to the lender.”  Proverbs 22:7.  In over 5 years of teaching and coaching, we have never ever came across a client in credit card debt that did not feel like a slave.  We are committed to meeting our clients where they are at on a spiritual level.

It’s Your Life and Your Money - At the end of the day, all decisions are made by our clients.  Our role is to help you gain insight and understanding.  Our organization is affiliated with several other authors and personalities.  Clients are free to disagree with us, the authors we affiliate with, or others opinions they may have come across.  We want clients to think though the options and opinions presented to them.  Our job in coaching is to help you make your own decisions.  Our coaches are here to guide you in the decision making process and may challenge you to re-think some decisions.  However, at the end of the day, it is your life and your money.

Personal Responsibility and Accountability – One of the first things we look for when interview clients is has this person come to the point where they are accepting responsibility for the situation that they are facing?  Are they blaming others for the problem?  Simply put you cannot own a solution without first owning the problem.  Clients who blame the creditors, blame the ex-spouse, blame the economy, etc typically do not get life changing results until they first admit to aspects that they are personally responsible for in the problem.

Consumer Advocacy and Pastoral Care – We are committed to working for the clients best interest.  One of luxuries of not selling products is that we can help clients objectively evaluate their options.  When clients hire us to help them look over their situation, we help look for solutions and core problems.  “Debt is never the core problem, its a symptom of a deeper issue.”  Larry Burkett

Integrity – We do our absolute best to live up to the promises we make.  Integrity is more than just telling the truth.  Integrity means you do what you promise to do.

Straight Talk – Everything from our sales process to our services are very straight forward.  Our job is to be the good friend who tells you what you need to hear, not necessarily what you want to hear.