Resources
How Can Employees Access Financial Coaching Through Work?
By the Financial Knowledge Content Team ·
A group workshop can explain how a 401(k) works. It can’t tell one employee what to think about when they’re juggling a new baby, student loans and a job change in the same year. That’s where 1:1 financial coaching through work comes in.
How workplace financial coaching works
- The employer adds coaching to its benefits. It can be offered on its own or alongside group courses.
- Employees hear about it. Common channels are benefits portals, open enrollment materials, new-hire onboarding and manager reminders.
- Employees book a session. They choose a time through an online scheduler, usually without going through HR.
- They meet with a coach. Sessions take place virtually or onsite, and last long enough to work through a real question.
- They leave with next steps. Coaches explain options and trade-offs so employees can make their own decisions.
What employees can talk about
- Building a budget and an emergency fund
- Paying down debt and understanding credit
- Using workplace benefits, such as the retirement plan, HSA and stock plans
- Saving for a home, children’s education or caring for parents
- Getting ready for retirement, including Social Security and Medicare basics
- Life events, such as marriage, divorce, a new child or a job change
Coaching and group classes work best together
Group classes are a great way to learn the basics and hear what colleagues are wondering about. But some questions are personal, like a specific debt, a family situation or a decision about a stock grant. Coaching is a natural next step for employees who enjoyed a class and want to talk through their own situation privately.
Coaching is education, not advice to buy
In a conflict-free program, the coach doesn’t sell products, manage money or earn commissions. The coach helps employees understand their situation and their options. The decisions stay with the employee.
Confidentiality
Employees need to know their employer won’t see what they discuss. In a well-run program, the employer receives only aggregated data, such as how many sessions were held and the general topics covered, with no names attached.
What employers should look for in a coaching program
- Coaches who are CERTIFIED FINANCIAL PLANNER® professionals or similarly credentialed
- A provider paid only by the employer, with no product sales or referral fees
- Easy booking, without going through HR
- Virtual and onsite options for different schedules and locations
- Clear, aggregated reporting
How Financial Knowledge coaching works
Many employees enjoy our group classes but have questions about their own situation that they’d rather not ask in front of colleagues. Coaching gives them that private setting. Our financial coaching sessions are confidential 1:1 meetings with a CFP® professional, offered virtually or onsite. Sessions are education-based: we sell no products and earn no commissions. RightCapital planning software is included in every coaching session. Coaching can be offered on its own or with group courses, sized to fit organizations of any size and budget.
Tell us about your people
Every workforce is different, and the right program starts with understanding yours. Financial Knowledge provides conflict-free workplace financial education through CFP® professional-led courses, recorded courses and 1:1 coaching, and we work with organizations of every size and budget. We never sell products, so our only goal is helping your employees make confident decisions.
Tell us about your peopleFrequently asked questions
How can employees access financial coaching through work?
Most employees get it as an employer-paid benefit. The employer contracts with a provider, and employees book confidential 1:1 sessions with a credentialed coach, virtually or onsite, at no cost to them.
Is workplace financial coaching confidential?
It should be. In a well-run program, the employer sees only aggregated participation data, never individual names or what was discussed.
What is the difference between a financial coach and a financial advisor?
An education-based coach helps employees understand their options and doesn’t sell products or manage money. Many advisors are paid through products or assets they manage.
Do employees pay for financial coaching through work?
Usually not. When coaching is offered as a benefit, the employer pays the provider directly.
