120. How to Help Your Clients Build Their Financial Power Team

The Financial Coach Academy® Podcast

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18d ago 18:29

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If you’re trying to do everything for your clients, you’re doing them a disservice. Yep, I said it. As financial coaches, we don’t know everything there is to know about finances, and that’s okay. We’re focused on our niche and expertise and while there’s nothing wrong with learning and growing with our clients, there comes a time when referring them to another professional is the best next step.
I used to think that referring clients to other professionals meant I wasn't good enough at my job. Turns out, it's actually one of the most valuable things I can do for them. When you position yourself as the quarterback of your client's financial journey, you become more essential to them, not less.
Most people have a financial advisor who doesn't talk to their CPA, who doesn't coordinate with their insurance agent. That leaves your clients trying to figure out how all these pieces fit together on their own.
And that's where you come in.
This week, I’m sharing exactly how I've learned to recognize when my clients need specialized help and the clear indicators that tell you when it's time to bring in other professionals. And you know what? Some referral relationships have become some of my best sources of new clients.
Here’s just one example: For 12 years, I handled student loan guidance myself. But when the rules started changing rapidly, I made the decision to partner with a specialist instead. I didn't feel bad about this decision. I felt proud that I cared more about what was best for my clients than my own ego.
Your scope of practice isn't a limitation. It's actually what makes you valuable. Listen in to hear specific language for these referral conversations and explain how to build relationships with other professionals so you have a solid network ready when your clients need help.
Links & Resources:

Key Takeaways:

You're not your client's only financial resource, you're their quarterback. Coordinate the game plan while bringing in specialists for specific plays.
Refer too early rather than too late. If you're unsure whether a client needs specialized advice, lean toward making the referral.
The strongest referral relationships develop through consistently positive experiences with mutual clients—so be patient and focus on quality over quantity.
Frame referrals as expanding resources, not passing clients off. Say, “To help you reach your goals faster, I'd like to bring in a specialist” instead of simply “This is outside my expertise.”
Your scope of practice isn't a limitation, it's what makes you valuable. When you try to be everything to everyone, you become less effective at what you're truly great at.
Clients need your coaching support most when implementing advice from other professionals. Schedule specific sessions to help them translate technical recommendations into practical action steps.
Build relationships with professionals who care about staying in their lane as much as you do. Look for people who won't tell you how to do your job while you respect theirs.

149 episodes

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