This story appeared in Bank Digest.
The Consumer Financial Protection Bureau has published a report that summarizes the lessons learned from the 2017 Financial Coaching Symposium held in April of this year and outlines the next steps needed to raise the level of financial coaching. The symposium brought together financial coaches and researchers to discuss ways to improve financial coaching services and better help clients identify and reach personal financial goals. The Bureau's report highlights key conversations on strategies intended to boost the financial coaching field. According to a Bureau blog post, research indicates that financial coaching services improve financial well-being for clients. Financial coaching can lead to increased deposits, savings, and credit scores for consumers, decreased debt, and lower overall financial stress.