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Financial Coaching Initiative

The delivery of coaching through the Bureau’s Financial Coaching Initiative has concluded. Although coaching services are no longer available through the initiative, we will issue future reports regarding lessons learned and client outcomes from this pilot program. 

About the Financial Coaching Initiative 

From April 2015 to March 2019, the Financial Coaching Initiative provided services to two populations:

Financial coaches, funded by the CFPB and employed through our contractor, AFSC-Magellan, were placed at locations where people already received other services. These host sites included American Job Centers and community-based organizations across the country. The professional coaches provided free, one-on-one help to consumers to craft personalized plans to address individual financial goals.

Services were provided at critical points in consumers’ lives as they moved along the path to financial stability. For consumers making a big change in their lives—like starting a new job, beginning to save for a life goal, or a servicemember leaving active duty status—in-person, individualized money management guidance can make all the difference in helping them make sound financial decisions and gain financial stability.

The coaches were trained in financial coaching techniques, certified or in the process of obtaining their certification, and accredited by the Association for Financial Counseling and Planning Education.