EP71 Financial Coaching vs Financial Advice: What’s The Difference And Why Is It Important? with Stacey Lowman

Stacey Lowman is a financial coach at Claro, the new digital financial coaching app and partner of ours here at Raise The Bar.

Due to the high costs of financial advice which is inaccessible to many of us, the advice gap is a trend that has triggered a surge in demand for financial support and guidance. This demand has seen a myriad of solutions coming into play: financial coaching, robo advisors, challenger banks, and influencers. The market is still forming and is still fragmented, with financial coaching currently unregulated, which leaves many wide open to exploitation. Claro is on a mission to change this.

In this episode Stacey tells us how, for many of us, our relationship with money has changed over the past year due to the pandemic. I ask her what we should be doing now, as the UK begins to reopen, to balance our long-term financial goals with our short-term needs to socialise, travel and generally rebuild our lives. Stacey demystifies the 95% mortgage offer with practical advice for first-time buyers, and we discuss the significance of language when it comes to money matters.

This conversation was recorded on 10th March 2021.

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This episode is sponsored by Claro, the digital financial coaching app. Sign up for early access today and protect 25 trees in the Amazon, visit https://claromoney.co.uk/raisethebar/.
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Guest - Stacey Lowman
Host - Frankie Cotton
Sound Editor - Beth Davison

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