How a financial planner is like a first team coach for your finances

How a financial planner is like a first team coach for your finances

As someone who earns their living from the beautiful game, you’ll know first-hand how big an influence a first team coach at your club has on your career.

The role coaches play in your development as a player is fundamental to both your personal success, as well as of the entire squad.

A financial planner is a lot like your first team coach, only for your finances – they’re interested in helping you to make the most of your money to help you fulfil your potential for you and your family.

Read more about how working with a financial planner is like having a first team coach for your finances.

Creating a personalised training plan

When you start working with a new first team coach, it’s likely that they’ll assess you and then develop a training plan based on your needs.

Your coach will identify your areas of strength and also where you can improve, and then design a personalised training plan that uses strategies to help you build on your game.

This is exactly how a financial planner works, taking a full look at your finances and creating a financial plan that suits you.

Crucially, your planner will ask you about your personal goals for the future, too. There’s no “one size fits all” solution when managing your money, as your financial situation and your goals will be personal to you.

So, just as a coach might find specific areas of improvement that they want you to work on, your financial planner will also seek to make a “training plan” for your money that’s custom-built for you.

Overseeing your long-term progress

Putting together a training plan is just a small step in your journey with your coach, though. They’ll also keep an eye on your long-term progress, regularly assessing how far you’ve come, and what you need to do to keep building towards your targets.

This is just how a financial planner works, keeping an eye on the plan they put in place to make sure that it continues to do what it needs to help you reach the goals you have for you and your family.

Significantly, your financial planner will stay in touch and regularly update you on this. They may even make recommendations for refining your plan as you progress, streamlining it along the way if your circumstances or ambitions for the future change.

Even if they never need to make any adjustments from that initial plan, you can have the reassurance and peace of mind that an expert with your best interests at heart has a handle on your finances.

Working with a backroom of staff to cover any of your needs

Of course, a first team coach doesn’t do it all on their own. They work and liaise with lots of people at the club, whether that’s conditioning and fitness coaches in the gym, nutritionists, physios, or even analysts, to help you make the marginal gains that will give you an edge over your opponents throughout the season.

Similarly, a financial planner also works with a team of experts to provide a seamless financial planning experience for you.

That might be looking for assistance from colleagues with particular areas of knowledge, such as on investments, mortgages, or tax.

Or it might be paraplanners and technical assistants who provide detailed information on your case and carry out the legwork to help you stay on track to meet your targets.

Just like building and training a match-winning squad, financial planning is a team sport with multiple, highly experienced individuals working to cover all your needs and concerns.

Helping you to achieve your full potential

Most significantly, a first team coach’s ultimate aim is to help you become the best player you can possibly be.

Your coach wants to help you fulfil the potential you’ve shown throughout your career, helping you to play at the highest standard.

In just the same way, a financial planner’s goal is to help you achieve the most with your money.

With your goals for the future in mind, your planner will use different methods at their disposal to help you reach them, allowing you to really benefit from all the hard work you put into your career.

The only difference between your first team coach and your financial planner is that your planner’s services will continue over your lifetime, even after you hang up your boots for the final time.

Managing your money is a lifelong task that will last beyond your football career. So, working with a financial planner is like having a first team coach for your money by your side for as long as you need.

Work with an experienced financial planner

At ProSport, we can be that first team coach for your finances, allowing you to make the most of the money you earn from playing professionally.

Please email or call 01204 602909 to find out how we can help you.

Please note

This article is no substitute for financial advice and should not be treated as such. To determine the best course of action for your individual circumstances, please contact us.