CFEE Guidebook

16 BUILDING FINANCIAL CAPABILITY THROUGH FINANCIAL COACHING There are many models for structuring a financial coaching program. According to the Consumer Financial Protection Bureau, “a financial coach is a trained professional who collaborates with and guides their clients to reach their financial goals. The process is personalized and nonjudgmental. Financial coaches provide support, encouragement, accountability, and tools to help people make informed decisions.” 16 The coaching model used in the Money Smart Forum incorporates these key principles. Our coaches are trained financial professionals but they are also skilled in relating to students, communicating in a nonjudgmental way, and developing a supportive, encouraging relation- ship with participants.  Marketing and Promotion Effective promotion on a college campus entails using both digital media and traditional channels. To promote the Money Smart Forum coaching program, we designed marketing ma- terials that worked online and in hard copy. The primary marketing piece was a colorful tri-fold brochure with key details about the program and the benefits that students could expect to achieve. Another marketing piece we used was a one-page flyer that was designed for social media, email, or posting to a bulletin board (see appendix 4). We found it useful to create a logo to help with our branding and to identify our program better on all of our communications and materials.  Delivery of Coaching Services Coaching can be delivered in a variety of ways, including sessions conducted in person or re- motely via phone, Skype, Zoom, or other online platforms. The delivery format will depend on the resources available for the program as well as the needs of students. In-person coaching requires a central location on campus, with an office for privacy. Remote coaching offers more flexibility in terms of hours when sessions can be offered, but may also require more time and coordination to build and sustain the relationship. FINANCIAL COACHING BASICS ELEMENTS TO CONSIDER WHEN IMPLEMENTING A COACHING PROGRAM   Marketing and promotion   Delivery of coaching services   Scheduling appointments   Length of coaching sessions   Dealing with cancellations   Intake and assessment   Structuring coaching sessions   Measuring outcomes