Financial Coaches Network - The Podcast: Build your Financial Coaching Business

Joshua Escalante Troesh, Garrett Philbin, Amelie Riendl, and Emily Blain
  • 4.2 (10)
  • ENTREPRENEURSHIP
  • UPDATED WEEKLY

Looking to build a successful financial coaching business? Join thousands of others in the Financial Coaches Community who are building successful financial coaching businesses. Hosted by Joshua Escalante-Troesh (CFP®, MBA), Garrett Philbin (AFC®, CMC®), Amelie Riendl (AFC®, PMP®), and Emily Blain (AFC®), each episode they take a deep dive into strategies, tools, and best practices for getting clients, working with clients, and running the back-end of your business.

  1. #201: Tax Deductions 101

    3D AGO

    #201: Tax Deductions 101

    Joshua and Amelie break down the basics of tax deductions and tax credits, offering a simple, high‑level overview to help listeners understand how these tools may reduce their tax bill.  Top takeaways: Tax deductions and tax credits both help you pay less in taxes, but they work differently Tax credits offer a dollar‑for‑dollar reduction in your taxes owed— the government treats you as if you paid that amount in taxes. Tax deductions reduce the amount of income the IRS considers taxable. The value of a deduction depends on your tax bracket; higher‑income earners generally benefit more because of progressive tax rates In some cases, you can choose between claiming something as a tax credit or a tax deduction When comparing “above the line” and “below the line” deductions, the “line” refers to your Adjusted Gross Income (AGI). Above the line deductions (adjustments to income) reduce your AGI, which can affect eligibility for certain benefits and credits. Common above the line deductions include retirement contributions (like 401(k)s) and legitimate business expenses  Below the line deductions are taken as either the standard deduction or itemized deductions (such as charitable giving or state taxes) MAGI (Modified AGI) is used throughout the tax code, but calculating it can be complex and varies by program — tax professionals handle this best A tax professional can sometimes help you legally shift deductions from below the line to above the line Nearly everyone can benefit from working with a qualified tax professional Many valuable tax credits exist for people with low income, but they’re often missed when taxes aren’t filed or are filed incorrectly The Earned Income Tax Credit (EITC) is widely under‑claimed; most eligible households never receive it. For families with children, the EITC can average around $3,000 — far more than the cost of basic tax preparation. Check out AICPA’s Guide on How to Choose a CPA Look for tax professionals with one of these credentials: Certified Public Accountant (CPA), Enrolled Agent (EA), or Tax Attorney

    28 min
  2. #200: Your Business Emergency Plan

    FEB 1

    #200: Your Business Emergency Plan

    Joshua and Amelie share their thoughts on what should go into a business emergency plan. As a section in your business plan, the emergency plan is there to guide you whenever there is any kind of action that causes a disruption to your normal business operations, from natural disasters that displace you for weeks or months to power outages that last just a few hours. Top takeaways: A written emergency plan shows that you care about serving your clients.  The SEC requires a disaster recovery plan for Registered Investment Advisors (RIAs). Sections to include in your emergency plan include:  Office Space - including short term and long term plans Equipment - including your computer and phone Regulatory - including liability and access to client data Third party vendors - including key contacts at each Employees - emergency recovery plan for employees Critical contact list - contact information for clients in the case of an emergency A small battery back up system for your computer combined with the plan to use your phone as a hotspot are simple starting points. Having suitable alternative office spaces readily available will help when an actual emergency happens. A password management system can help give you access to your important websites, passwords and third party vendors. Include software security for any new or alternative equipment in the appropriate section. Make a paper copy of your business recovery plan for easy access. Notify clients of an emergency or change to your business only when they’re impacted (e.g., upcoming meetings you may miss). Documentation of your plan is important, but you can start with big picture steps and refine it over time. You can contact an RIA compliance consultant for a template.

    28 min
  3. #199: How to Vet a Financial Advisor

    JAN 15

    #199: How to Vet a Financial Advisor

    In this episode, Josh and Amelie discuss the confusing world of financial advisors and give listeners ideas for evaluating a potential advisor. The hosts explain why job titles are meaningless and certifications vary widely in rigor, with the Certified Financial Planner® (CFP®) standing out as the gold standard. They clarify how the fiduciary standard works, including why just the Series 65–only advisors are legally bound to act in a client’s best interest at all times. The conversation then walks through how to use BrokerCheck and Form ADV to uncover an advisor’s licenses, conflicts of interest, fees, custody arrangements, and more. Together, these tools may help consumers find the right advisor for their needs.  Top takeaways: Job Titles Are Meaningless: Vice president, wealth manager, and similar titles are unregulated and don’t indicate competence or ethics. Certifications Vary Widely Over 400 financial certifications exist; many require little more than paying a fee. The CFP® is the gold standard for personal financial planning due to its rigorous exam, education requirements, enforced code of ethics, and continuing‑education requirements. BrokerCheck Is Your First Stop (https://brokercheck.finra.org/) Every licensed advisor remains in the system permanently. If an “investment professional” isn’t listed, they’re either an insurance agent or they’re operating illegally. Review disclosures carefully; multiple complaints or hidden details are red flags. Fiduciary Status Is Critical Only advisors with a Series 65 license (look for “IA” in BrokerCheck) and no other licenses are legally bound to act in the client’s best interest at all times. Advisors with multiple licenses (e.g., IA and broker) can switch roles—and obligations—mid‑conversation (and without telling you they switched roles). Commissions Influence Advice Academic studies show that advisors recommend products with higher commissions. Brokers and insurance agents are legally obligated to act in the best interest of their firms, not their clients.  Form ADV Part 2 Shares Key Information About the Advisor Required for all registered Investment Advisers (IAs). Includes services, fee schedule, conflicts of interest, investment philosophy, and custody details (who is the custodian of your money). Good advisors make their ADV and fee schedule easy to find. Custody Protects You Look for advisors who use large, third‑party custodians who will protect you (not the firm). Small custodians can be vulnerable to conflicts of interest, as seen in the Bernie Madoff case. Transparency Is Important Advisors who openly share fees, conflicts of interest, and regulatory documents demonstrate integrity. Marketing transparency often reflects operational transparency. One Advisor Profile to Look For (in our opinion) Series 65 license only (legal fiduciary duty) CFP® designation (rigorous training and ethics) Clear, accessible disclosures and fee transparency Uses a large, reputable third‑party custodian Want help building or growing a successful financial coaching business? Find resources below based on where you’re at in your journey: - Deciding whether Financial Coaching is right for you? Join our free Facebook Community with over 5000 current and aspiring financial coaches! https://www.facebook.com/groups/financialcoachescommunity - Already decided you’re going to be a Financial Coach and want to learn more? Get 30+ tips and best practices in our free 8-part email series! https://www.financialcoachesnetwork.com/pre-launch-email-series - Ready to Launch your Financial Coaching business? Join FCN Biz DIY, our step-by-step program that will help you successfully launch your business in four months and grow it to a consistent part-time income. https://www.financialcoachesnetwork.com/biz-diy   - Are you excited by financial coaching but not running a coaching business? MoneyCoach Network partners with financial coaches to handle the entire “business” side of having a financial coaching business. Sign up to Beta Test MoneyCoach Network (https://form.jotform.com/231063470154043)

    29 min
  4. #198: From the Vault: Tax Obligations - 1099 Requirements

    JAN 1

    #198: From the Vault: Tax Obligations - 1099 Requirements

    Join Josh and Amelie to discuss everyone’s favorite…taxes! What are your obligations in sending 1099s to someone? Did you know that there may be requirements for you to send 1099s to someone?! Top takeaways: If you receive over $600 income through a third party (AdvicePay/Stripe/Paypal etc.), that third party will issue you a 1099 (though this has and will continue to change a lot). Double check 1099 numbers so they all line up correctly. If you pay someone/some company over $600 over the course of a year, you have to issue a 1099 to them UNLESS it is a corporation or if you pay by credit card (NOT debit card). Your deadline is January 30!!!! If you missed that…do it ASAP and be prepared to pay penalties. Want help building or growing a successful financial coaching business? Find resources below based on where you’re at in your journey: Deciding whether Financial Coaching is right for you? Join our free Facebook Community with over 5000 current and aspiring financial coaches! https://www.facebook.com/groups/financialcoachescommunity Already decided you’re going to be a Financial Coach and want to learn more? Get 30+ tips and best practices in our free 8-part email series! https://www.financialcoachesnetwork.com/pre-launch-email-series Ready to Launch your Financial Coaching business? Join FCN Launch, our step-by-step program that will help you successfully launch your business in four months and grow it to a consistent part-time income. https://www.financialcoachesnetwork.com/launch Looking for financial coaching software? Sign up for the interest list for FCN MoneyCoach, the premier cash flow analysis software for financial coaches and advisers. https://www.financialcoachesnetwork.com/money-coach Are you already coaching clients and want to grow your business to a full-time income? Join FCN Grow, our program that helps you scale your business to a full-time income. https://www.financialcoachesnetwork.com/grow

    25 min
  5. #197: The 50-year mortgage

    12/15/2025

    #197: The 50-year mortgage

    Joshua and Amelie dive into the newly introduced 50-year mortgage option (as of 2025), exploring its potential benefits and drawbacks. They highlight the importance of understanding how any mortgage fits into an individual or family’s financial plan, and why consulting with a trusted financial advisor could help consumers evaluate whether this loan structure may make sense for them.  Topics Discussed: A brief history of mortgages and how they’ve evolved alongside the rising cost of building homes. The debate: Why discussions about the 50-year mortgage often exaggerate pros or cons depending on personal bias.  Interest rate considerations: A 50-year mortgage is more appealing when rates are low. The interest rate difference compared to a 30-year mortgage is relatively small  Monthly payments are lower than a 30-year mortgage. However, the reduction isn’t as significant as the jump from a 15-year to a 30-year loan. Refinancing potential: Moving to a 50-year mortgage could ease financial strain by freeing up cash flow  Affordability myth: A 50-year mortgage doesn’t necessarily encourage buyers to purchase “too much house” any more than a 30-year loan would.  Actual mortgage duration: Most homeowners don’t keep a mortgage for the full term—on average, loans last about 8 years before being refinanced or paid off.  Fixed payments: Regardless of length, mortgages lock in principal + interest payments, even as inflation and income levels change.  Total interest: Technically you’ll pay more total interest with a 50-year loan. However, the time value of money matters too—$10,000 in year 40 doesn’t feel the same as $10,000 in year 10 due to inflation and income growth. Cash flow impact: The interest rate has more of an impact on your current and future cash flow than the length of the mortgage. Housing market effects: In the short term, 50-year mortgages may affect home prices, but long-term supply -and-demand will likely play a bigger role.

    30 min
  6. #196: What are the Most Effective Marketing Strategies to Get Clients?

    12/01/2025

    #196: What are the Most Effective Marketing Strategies to Get Clients?

    What are the Most Effective Marketing Strategies to Get Clients? 2:15 - The Reality: There's NO Silver Bullet 2:59  - Not All of Your Clients are Active on Facebook 6:33 - Do Your Research and Understand Your Niche 7:57 - Finding Alignment With What You Do and Match It With a Potential Medium 9:16 - You Have to Start With Who is Your Audience 12:11 - Not All Marketing Strategies Have the Same Results 13:53 - Getting People to Go Through a Series of Processes 14:17 - What Ad Campaigns Do in Marketing?  15:44 - Focusing on a Particular Channel and Building Engagement With Your Audience  18:11 - Leveraging the People You Already Have Personal Relationships With  18:46 - You Can Learn a Lot From the Multilevel Marketing Methodology  20:24 - The Basic Ideas of Utilizing Your Existing Network 22:38 - The Stuff That's Going to Work is the Stuff That's Scary 27:22 - Recommendation on a Marketing Strategy to Get Clients 29:40 - The Long-Term Marketing Strategies  32:01 - Leveraging the Relationship With People Who Already Know You Want help building or growing a successful financial coaching business? Find resources below based on where you’re at in your journey: Deciding whether Financial Coaching is right for you? Join our free Facebook Community with over 5000 current and aspiring financial coaches! https://www.facebook.com/groups/financialcoachescommunity  Already decided you’re going to be a Financial Coach and want to learn more? Get 30+ tips and best practices in our free 8-part email series! https://www.financialcoachesnetwork.com/pre-launch-email-series  Ready to Launch your Financial Coaching business? Join FCN Launch, our step-by-step program that will help you successfully launch your business in four months and grow it to a consistent part-time income. https://www.financialcoachesnetwork.com/launch  Are you already coaching clients and want to grow your business to a full-time income? Join FCN Grow, our program that helps you scale your business to a full-time income. https://www.financialcoachesnetwork.com/grow

    35 min
  7. #195: All About Lead Magnets

    11/15/2025

    #195: All About Lead Magnets

    In this podcast episode, Joshua and Amelie discuss lead magnets for financial coaches, focusing on how to create valuable content that attracts your specific niche. They emphasize the importance of understanding your niche, conducting in-depth research, and creating specialized content that appeals to your niche rather than generic material that’s available through a simple internet search. The conversation highlights that successful lead magnets require significant effort to create, and include follow up to provide additional value, helping prospects move through your marketing funnel. Topics Discussed: Definition and purpose of lead magnets in the marketing funnel Common but ineffective lead magnet examples (budget worksheets, quizzes) How to develop a great lead magnet by researching your niche Strategies for sharing lead magnets (conferences, paid advertising) The importance of follow-up content after receiving the prospect’s contact information

    32 min
  8. #194: AI For Financial Coaches

    11/01/2025

    #194: AI For Financial Coaches

    In this episode, we dive into the evolving role of Artificial Intelligence (AI) in financial coaching and counseling. From boosting productivity to streamlining client support, AI offers exciting possibilities—but it also comes with important caveats. We unpack where AI can enhance your practice, what to watch out for, and how to get the most out of these tools without compromising quality or ethics. Top takeaways: AI isn’t always cheap: High-performing tools may have a steep price tag. AI can support nearly every aspect of your work—but don’t expect magic. Results may fall short of expectations. AI is more time-consuming than you may think: Effective use of AI requires thoughtful input and iterations. Prompts matter: The more context you provide—your goals, strategy, and desired tone—the better the output. Refinement is key: Ask for multiple options and be prepared to give feedback across several rounds. Expect formulaic results: AI tends to default to generic patterns. Know your sources: Understand where your AI tool pulls its information from. Copyright limitations: AI-generated content may not be eligible for copyright protection. Start with your systems: Review your current workflows to identify where AI could improve efficiency or effectiveness. Tune in to learn how to use AI as a thoughtful partner—not a shortcut—in your financial coaching journey.

    44 min
See All (201)

4.2
out of 5
10 Ratings

About

Looking to build a successful financial coaching business? Join thousands of others in the Financial Coaches Community who are building successful financial coaching businesses. Hosted by Joshua Escalante-Troesh (CFP®, MBA), Garrett Philbin (AFC®, CMC®), Amelie Riendl (AFC®, PMP®), and Emily Blain (AFC®), each episode they take a deep dive into strategies, tools, and best practices for getting clients, working with clients, and running the back-end of your business.

Information